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Overview
The Insurance Section in AdviserLogic’s Fact Find module provides a centralised repository for all existing client insurance policies, ensuring a comprehensive view of their coverage.
✔ Consolidated Policy Overview – Displays both manually entered policies and those imported via a Datafeed.
✔ Accurate Risk Management – Ensures all insurance details are tracked and integrated into financial planning.
✔ Seamless Policy Management – Allows advisers to review, update, and analyse client coverage in one place.
By recording insurance details correctly, you can provide tailored risk advice, identify coverage gaps, and support risk management strategies for your clients.
How to Add existing insurance
To add an insurance policy, navigate to the Fact Find from your client's record.
From the Fact Find Financial Screen – Select Insurance from the top menu bar.
From the Fact Find Tab – Hover over Fact Find and select Insurance from the drop-down options.
To add an existing policy, simply select the Blue Plus button. Once selected, a detailed window for the Existing Policy will pop up.
In this window, you can enter all the relevant information for the policy, including policy type, coverage details, premium amounts, and any additional notes or comments.
Policy Details Fields
Insurer* | Select he name of the insurance provider from the drop-down menu. |
Status* | Indicates whether the policy is:
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Covers |
Selecting Show More will open additional options:
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Policy Number | The unique policy reference number assigned by the insurer. |
Life Insured | The name of the individual covered under the policy. |
Policy Purpose | The reason for holding the policy (e.g., income protection, family security). |
Total Premium | The annual premium amount payable for the policy. |
Policy Fee (p.a.) | Any additional annual fees charged by the insurer. |
Stamp Duty (p.a.) | The government stamp duty charges applicable per year. |
Start Date* | The date the policy commenced. |
Previous Review Date | The last date the policy was reviewed. |
Next Review Date | The scheduled review date for the policy. |
Smoker Status | Indicates whether the insured is a smoker or non-smoker. |
Managed Externally | Select if the policy is managed by an external provider. |
Show in Cashflow | Determines whether the premium payments should be included in cashflow projections. |
Payment Method | Specifies how the premiums are paid (e.g., Direct Debit, Credit Card, Super Deduction). |
Beneficiary | Details of who will receive the policy benefits in case of a claim. Multiple beneficiaries can be added. The maximum percentage that can be assigned to a beneficiary is 100% and the additions of all benefit % for different individuals cannot exceed 100%. |
Other |
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📌 Fields marked with an asterisk (*) are mandatory.
Smoker Status – If No, the insured is not classified as a smoker for this policy. If Yes, the insured is considered a smoker.
Show in Cashflow – If No, insurance data (e.g., premiums) will not be included in Cash Flow. If Yes, it will be reflected in the Cash Flow module.
Managed Externally – If Yes, the policy is managed outside of AdviserLogic and may not be fully editable within the system.
Cover Details
Each Cover Type selected will open a new editable tile for the policy, allowing you to enter and customise details for each type of insurance coverage.
How It Works:
Select a Cover Type – Choose from options like Life, TPD, Trauma, Income Protection, etc.
Editable Tile Opens – A dedicated policy entry section appears for the selected cover type.
Enter Policy Details – Fill in premium amounts, exclusions, beneficiaries, and other relevant fields.
Customise Each Cover – Add multiple cover types within the same policy and manage them separately.
This structure ensures that each insurance component is accurately recorded, allowing for clear policy management and risk assessment in AdviserLogic.
If the insurance policy is held by a super fund or another entity, you must update the ownership details
If Super Is the Policy Owner and the insurance feed is datafed:
When mapping datafed insurance policies owned by a super fund, it should be linked to the corresponding super fund account rather than the client or partner. Please ensure that the relevant super fund account is already present in the client's superannuation section.
📌Note
Once you have entered the Cover, you will then be able to edit the rest of the detail.
The Policy Name will default once you select the Insurer and Type of Policy, or this can be manually entered
Example: How Default Policy Names Are Assigned
When a client selects a product provider and enters a cover type, AdviserLogic automatically assigns a default policy name based on the chosen details.
Default Naming for Standalone Policies
When selecting a product provider (e.g., ANZ Super) and a single cover type (e.g., Life), AdviserLogic automatically generates a default policy name.
This ensures that the product provider and cover type are clearly identified.
Example: "ANZ Super - Life Cover"
✅ This same format applies to other cover types:
Total and Permanent Disability (TPD) → "ANZ Super - TPD Cover"
Trauma → "ANZ Super - Trauma Cover"
Income Protection (IP) → "ANZ Super - Income Protection"
Business Expenses (BE) → "ANZ Super - Business Expenses Cover"
📌 Naming for Combined Policies
If a policy includes multiple cover types under a single product, the default policy name reflects all included covers.
This helps distinguish comprehensive policies from standalone policies.
Example: If a client selects AMP as the insurer and the policy includes Life, TPD, and Trauma, AdviserLogic will automatically name the policy:
"AMP - Life, TPD, and Trauma Insurance Plan"
✅ This ensures that:
The policy provider is clearly identified.
All cover types within a combined policy are listed.
Advisers can quickly distinguish between different policy structures (standalone vs. combined).
📌 Purpose of the Naming Convention
Standardisation – Ensures consistency across all policies for easy reference.
Clarity – Allows advisers to immediately identify the product provider and cover types without manual adjustments.
Efficiency – Speeds up policy entry and retrieval, reducing the risk of errors.
After entering the required details, select Save to add the policy to the client's profile. This user-friendly process makes it easy to keep track of the client's insurance policies and ensures all relevant information is efficiently recorded and accessible.
Once you have entered all the relevant policy details, follow these steps to save the insurance policy
Every time you save an insurance policy, AdviserLogic automatically creates a new history version, ensuring a clear record of any changes made over time.
📌 Why Version History is Important?
✔ Tracks Policy Modifications – Keeps a detailed record of any updates or edits made to the policy.
✔ Provides an Audit Trail – Enables compliance tracking and historical reference for advisers.
✔ Enhances Transparency – Ensures all policy changes are documented, reducing the risk of errors or missing information.
Where to View Version History?
Each saved version is stored within the Existing Insurance section under the policy details.
Advisers can review previous versions to compare changes and ensure accuracy.
To view a history of the policy hover over the three dot menu on the policy tile and select history from the options
Deleting and Archiving Insurance
You can Delete a policy by opening the insurance tile to the policy and selecting Delete from the lower right corner of the window.
You can archive a policy by navigating to the policy tile in the Insurance view, hovering over the three dots (⋮) menu, and selecting Archive.
📌 Note
Archiving keeps the policy on record but removes it from active listings, whereas deleting permanently removes the policy from the system.
When archiving the insurance policy different status types are available.
Choose from:
Cancelled
Deferred
Lapsed
Replaced
Declined
Not Proceeded
Transferred
Void
Expired
Surrendered
Matured
The Insurance summary page will show the Active Policies by default to view any archived policies select the archived policy button.
Once archived a policy can be reactivated by hovering on the three (⋮)dot menu and selecting Activate.
Archived policies will only be visible in the individual sections of the summary page for the specific client or partner they belong to. They will not appear in the active policy list but remain accessible for reference.