- Group Life Plans cannot support age banded rates. There is an option for a rate per $1000 of coverage as well as an additional flat cost if dependents are enrolled.
If the group does not offer a Voluntary Life plan, you have the option to set the Basic Life Plan up under the Voluntary plan model, then user our Open Sorting Tool to change the Benefit category name to "Group Life" in enrollment flow for employees.
Alternatively, you can also use our Universal plan model to add a Group Life benefit for all employees if you are already adding a Voluntary Life option for employees.
- Any Employee cost associated with dependent Basic Group Life coverage will be reflected in the employee's per pay cost on their Benefit Summary. We have added an information icon to the employee's Benefit Summary under the Dependents enrollment indicating this.
- Employee Benefit Age Reductions will occur on the employee's birthday.
- When the Group Life benefit structure is set to Multiple of earnings, updates made to the employee's earnings will recalculate the employee's enrolled benefit as of the salary change effective date.