|This article will explain how to record a Key Person protection holding.|
Locate your corporate client you wish to add the key person protection holding for from the Clients screen.
Select Holdings from the menu on the left hand menu:
There are two tabs within Holdings. Use the Contracts tab to record holdings that the corporate client owns for their benefit. Use the Schemes tab to record the group schemes that are for the benefit of the employees.
A Key Person protection plan is to protect the company, therefore is recorded under the Contracts tab.
Select Add record from the right hand side of the screen and confirm you wish to add a new holding. You will be asked to confirm whether this should be recorded for Info only or New Bus. If you are responsible for the compliance of the product and want it to appear on your new business register, select New Bus. If the corporate client already has the contract in place and you are recording it for your information, select Info only.
Complete the product screen with as much information as possible. See article 'adding a holding from a client record'
The contract holder and life assured will default to the corporate client. Amend the life assured within the Details section of the holding:
You have now completed this task.