Initial Return of Premium - NTO (Not taken out) Enhancement - Correspondence

As an SFG user, I need the FAST system configured to be able to reverse the initial premium transaction, placing the policy back in pending status and after 21 days from the date of reversed initial premium activity of pending status, I need the system to automatically trigger the correspondence that is sent when the policy goes through the NTO phases.

Acceptance Criteria:

1. System should generate an email notification to the agent at the reversal of the intial premium.

2. System should generate mailed correspondence to the policyowner at the reversal of initial premium.

3. System should generate an email notification to the agent after 10 days has passed from the intial reversal of premium.

4. System should generate mailed correspondence to the policyowner after 10 days has passed from the intial reversal of premium.

5. System should generate an email notification to the agent after 10 days has passed from the intial reversal of premium.

6. System should generate mailed correspondence to the policyowner after 10 days has passed from the intial reversal of premium.

7. System should generate an email notification to the agent after 20 days has passed from the initial reversal of premium.

8. System should generate mailed correspondence to the policyowner after 20 days has passed from the intial reversal of premium.

Automatic Correspondence should make it clear that we are off the risk and there is no death benefit coverage. This process would not require a grace and lapse notice as initial premium returned, which voids the contract. This is new correspondence. This correspondence needs to be approved by legal, compliance and SFG Administration leadership.

Background:
When reversing the initial premium, the FAST system automatically places the policy in a pending status indefinitely. We need it to automatically trigger correspondence at difference phases throughout the process and change the status to NTO after the initial premium is reversed for 30 days.

NTO Handling - Occurs when there has been no premium on the case and the contract never was active. Premium was never received; Initial Premium reversed
Free Look = describes a policyowner who paid a premium and then decides that they do not want the contract and we refund the premium.