Insurance Policies are the contract records in FSC Insurance — the master document defining coverage, premium, terms, and link to the policyholder. Each Policy aggregates Claims, Coverages, and Beneficiaries underneath. Standard FSC Insurance object; not available without that license.
- Confirm FSC Insurance is licensed
Insurance Policy is part of Financial Services Cloud's Insurance vertical.
- Open the Insurance Policies tab
App Launcher → Insurance Policies.
- Click New
Top-right of the list view.
- Set Policy Name (auto-numbered usually)
Conventions vary — auto-number is common. Override if your back-office system requires a specific format.
- Link the Policyholder (Account or Contact)
Required — who owns the policy.
- Set Policy Type
Auto / Home / Life / Health / Commercial. Drives which Coverages are available.
- Set Effective Date and Expiration Date
When coverage starts and ends.
- Set Premium Amount and Premium Frequency
How much, paid how often.
- Set Status (Active / Pending / Lapsed / Cancelled)
Active is the default for in-force policies.
- Save → Add Coverages and Beneficiaries via related lists
Detailed coverage breakdown lives on child records.
Required (often auto-numbered).
Required. Account or Contact.
Required. Define coverage window.
Required. Active by default.
- Insurance Policy is FSC Insurance only. Without that license, the object isn't available — generic insurance use cases need a Custom Object instead.
- Coverages roll up from the Policy. Without proper Coverage records, Claims can't reference what's covered — Claims linking fails or shows zero coverage.
- Status transitions (Pending → Active → Lapsed) often drive billing automation. Manual status changes can fire downstream automation; coordinate with finance / billing teams.