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Policy Status

The Policy Status indicates the current standing of a specific policy term. Because status is associated with the Term, each term can have a different status.

💡 Why Use This

Policy Status controls how the system treats a policy in reports and payment processing:

  • Active policies appear in the Accounts Receivable report as expecting payments.
  • Terminated policies use the Termination Date to determine whether outstanding payments are still tracked.
  • Inactive policies allow trailing payments to continue posting without treating the policy as fully open.

🗺️ How to Access

Policy Status is a field on the Policy screen within the Policy Information section. Open any policy and locate the Status dropdown.

Status Definitions

  • Active — The current, in-force term.
  • ActiveNew — Optional manual status for a newly written term.
  • ActiveRewrite — Optional manual status for a rewritten or replaced term.
  • Expired — Automatically set by the system the day after the Renewal Date.
  • Inactive — For cancelled policies where trailing payments are still expected.
  • Prospect — For policies not yet sold.
  • Terminated — For cancelled policies where no further payments are expected.

Policy Term Status Example

Termination Logic & Accounts Receivable

Policies marked Terminated use the Termination Date to filter the Accounts Receivable report:

  • Billing Date > Termination Date — Hidden from A/R (no payment expected after cancellation).
  • Billing Date ≤ Termination Date — Appears in A/R as expected (payment was due before the cancellation date).

🔧 Troubleshooting

A policy is showing as Expired when it should still be Active. Check that the Term Renewal Date is set correctly. The system automatically sets the status to Expired the day after the renewal date. If the date is wrong, correct it and re-save to restore the Active status.

I still have trailing payments coming in after a policy was cancelled — which status should I use? Use Inactive rather than Terminated. Inactive keeps the policy visible in A/R for expected trailing payments, while Terminated removes all future payment expectations.

Need help? Contact support@commission-tracker.com