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Forums Human Capital Management Lawson S3 HR/Payroll/Benefits

Benefit Setup for Supplemental Life

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CMH
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10/7/2010 4:50 PM
Our company is thinking about offering a Supplemental Life plan, therefore, it will be a new benefit with an age table. I was wondering if any anyone has set this type life plan up and would be willing to share some of the things I might encounter. I do not have any plans set up with the BN02 age table, so any help will be appreciated.
M.J.
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Posts: 38
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10/7/2010 5:13 PM
This was already setup at our hospital when I started in this role but if I can help with how ours is setup I would be happy to share. I'll send you a message with my contact info.
Deleted User
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10/27/2010 11:47 AM
We have this type of plan now. I see this post is from a few weeks ago - so if you have not already figured it out, I can send you the setup forms and tables that we have so you can review.

Our plan is based on a multiple of salary 1-4 X and the premium is based on an age table and we also have an age reduction table to reduces their coverage level by a specified percentage when they reach a specific age.

The setup was fairly easy and we do not have any issues maintaining this plan.