Your Annual Statement settings need to be set as 'Add cover letter for annual statement package as Docx File' for this option to be available. Menu > Product Settings > Annual Statement
Please note: even if you select the cover letter to be added as a docx file, your client will always receive a PDF version of the cover letter.
If settings are set as 'Docx File' the following option is available under 'Refresh'.
'Refresh' is available on the annual statement documentation page. It's an option to change settings for a particular annual statement.
You can click on the cover letter to download it and edit it.
If you download the cover letter, save it on your desktop prior to re-uploading. To re-upload, choose the saved file and click 'Update Cover Letter'.
If you have created multiple cover letters in the Cover Letter Settings (Menu > Product Settings > Cover Letter), this section will allow you to select the corresponding cover letter.