Need below suggestion on the Multi Period accounting for Insurance Payments

Summary:

Need below suggestion on the Multi Period accounting for Insurance Payments :

Client Pays Lump sum amount to Insurance company. E.g. 140000 INR
Insurance company confirms Insurance for that year is 120000 INR
Hence 20K is with Insurance Company as Deposit
After a few months a new employee joins and the Insurance company adjusts the insurance amount for remaining months for that employee against Cash Deposit. Same applies if their are resignations

Can you please help on multi period accounting automatically adjust such scenarios!

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