This section outlines the one-time setup procedures for Credit Insurance (Global Loan Protection - GLP) within the system.

4.1 Security

4.1.1 Roles

To configure user roles for GLP, navigate to MaxMoney > Setups > Security > Roles > Edit.

Link the following resources to the relevant role:

• SETUPS
  • Global Loan Protection Setup: Grants permission to configure Global Loan Protection.
  • Global Loan Protection Setup - General: Provides access to set up the default GLP Product.
• REPORT
  • GLP Premium Receipt Report: Allows viewing of premium receipts on loans with GLP.
  • GLP Loan List Report: Provides a list of loans that include GLP.
• LOAN
  • Global Loan Protection Edit: Enables modification of the GLP product from a list.
  • Global Loan Protection Waived: Allows changes to the GLP waived checkbox.

4.1.2 Users

To link users to the configured GLP role, go to MaxMoney > Setups > Security > Users > Edit.

Link the specific user to the role you've just updated.

4.2 User Access to Products

4.2.1 Users

To grant specific users access to particular GLP products, navigate to MaxMoney > Setups > Global Loan Protection.

For each product:

• Edit the product.
• Select the users who are permitted to access this product.

4.2.2 Standard Initial Product

Set up the default GLP product for all new loans by going to MaxMoney > Setups > Global Loan Protection - General.

Examples of initial products include:

• ASPIS: ASPIS Credit Life 0.45%
• Kepler: Kepler Credit Life 0.55%

4.3 Accounting

4.3.1 Ledgers

A ledger for each GLP product must be established under Setup > Accounting > Ledgers.

If Value Added Tax (VAT) is applicable, select VAT Type = Output to enable the VAT functionality for the ledger.

4.3.2 Events

An accounting event for each GLP product needs to be set up under Setup > Accounting > Events.

The attribute for Global Loan Protection Charged should be set to Loan Insurance Charged. If VAT is applicable, check the VAT Applicable checkbox to enable VAT for the event.

4.3.3 VAT Percentage

If VAT is applicable, configure the VAT percentage under Setups > Accounting > General.

4.4 Document Setup

The loan agreement document must be updated to display a clear breakdown of the cost of credit, including the Credit Life Insurance as configured in the GLP module.

The necessary tokens for GLP can be found in the Global Loan Protection Document Group. The insurance document itself is pre-configured in MAXADMIN and will be generated automatically alongside the loan agreement documents.