Supplemental Life - max limits

At our organization, we have supplemental life insurance plans that folks can elect up to 4 times their salary. We also have a max on these plans that you need to do an EOI if the amount elected is over $575,000.

We haven't really had anyone (since go live of Infor May 2016) that has reached this max limit that was approved ... and now we have.

How are others doing this?

It seems we have to create another supplemental life plan for the extra amount... but REALLY do not want to do this.

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Infor Lawson Human Resources Group - Discussion

Comments

unknown

We have multiple Coverage records (BN17.3) set up for the plan and use employee groups to assign employees to the appropriate coverage record. The employees with the higher limit are excluded from the group for the basic limit and added to the group with the higher limit.

unknown

We do this as well, the coverage limits can be accessed by BN17.3 select Limits which will take you to BN17.4 Coverage Limits.

0911060553270289.pdf

slivak

Back when we did our benefits in-house, we would cap the benefit at $575,000, and enroll them in a dummy EOI plan to indicate that we were waiting for EOI approval. Once we received approval, we'd stop the dummy EOI plan and change their coverage on the sup life plan to the approved amount.

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