Limits

Limits are used to define the maximum insurable values for the insurance product when a quote is calculated.  The quote calculation itself has a specific sequence of events which could affect the calculations, click here for more information.

A limit can be set as a fixed amount or can be linked to a driver field, and a trigger can be used to control if the limit is applied or not.

Creating a Limit

With the master cover selected, click the Limits item in the Screens widget.  For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.

Select a Quote Option to view the limits defined for that option.

The Limits panel displays all limits under the selected Quote Option.

1. Click in the field marked Please click here to add new row.
2. Select a Premium Type where the limit should be applied.
3. Enter a Description to be available in the Quote Summary window.
4. Select a Limit Type from the options defined in the limit type list selected in the Policy Settings page of the master cover.
5. Enter a default Amount.  This amount is used as the limit value if no Driver Field is defined, or if the Driver Field is empty.
6. Select a Currency for the limit.
7. Select a Driver Field if the limit amount should be taken from the submission form.  If the Driver Field (which may be user-entered or a calculated field) has any value, including zero, that value is used as the limit value.  If the Driver Field is left blank in the submission form, or if no Driver Field is selected, the Amount value is used by default.  Only fields defined as Rate Drivers are available in this list.
8. A Trigger can be selected to set the conditions for this limit to be applied.  If the trigger evaluates as true, the limit is applied to the premium type.
9. The Effective Date and Valid Until Date fields can be used together or separately to control when the limit is applied.  If the effective date of the transaction is before the effective date of the limit or after the valid until date of the limit, the limit is not applied.
10. Click outside the row to add the limit to the list. The row is marked with an added icon .
11. Repeat the previous steps to add additional entries.

To edit a limit, double-click in any field within the grid. On clicking outside of the row, the row is marked with a modified icon .

To delete a limit from the list, right-click on the limit and select Delete. The row is marked with deleted icon .

Until the page is saved, all additions, edits, and deletions are temporary. To accept the marked changes and save the page, right-click in the grid and select Accept All Changes. To undo the marked changes, right-click in the grid and select Undo All Changes.

12. Click Save. All marked changes are automatically accepted and saved.
13. Additional limits can be added to the same Quote Option, or a different Quote Option can be selected.

Viewing and Modifying a Limit

With the master cover selected, click the Limits item in the Screens widget.  For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.

Select a Quote Option to view the limits defined for that option.

The Limits panel displays all limits currently set for the master cover.

1. Double-click on any field in the table to open it for editing.  See the section on Creating a Limit for a detailed description of the fields.
2. On clicking outside of the row, the row is marked with a modified icon .

Until the page is saved, all additions, edits, and deletions are temporary. To accept the marked changes and save the page, right-click in the grid and select Accept All Changes. To undo the marked changes, right-click in the grid and select Undo All Changes.

3. Click Save. All marked changes are automatically accepted and saved.

Deleting a Limit

With the master cover selected, click the Limits item in the Screens widget.  For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.

Select a Quote Option to view the limits defined for that option.

The Limits panel displays all limits currently set for the master cover.

1. To delete a limit from the list, right-click on the limit and select Delete. The row is marked with deleted icon .

Until the page is saved, all additions, edits, and deletions are temporary. To accept the marked changes and save the page, right-click in the grid and select Accept All Changes. To undo the marked changes, right-click in the grid and select Undo All Changes.

2. Click Save. All marked changes are automatically accepted and saved.