Voluntary Life

Legacy Contributor

Hello,

Our Voluntary life plan has a age reduction rule (65% after age 65, 50% after age 70). How do we set up the age reduction rule in Lawson to accept amounts that are not even numbers?

thank you!

Kristine

0912140849182145.pdf

Legacy Contributor

This is what Lawson told us a few years ago - "With version 8.0.3, voluntary (supplemental) life plans can no longer have coverage reduction built into the plan set up. Most voluntary life plans have coverage limits of increments of round amounts. Since coverage reduction is usually a percentage, these two conflict with each other."



The process we use is very manual. We set up multiple Coverage Amounts (BN17.3) for each flat amount needed for the reduced coverage (i.e. $19,500, $32,500). We exclude the employee from the employee group used with the standard, non-reduced coverage and add him/her to the employee group associated with the correct reduced coverage amount.



Our coverage reduction takes place as of 1/1 so this is a once-a-year process.