Use this screen to link employees, benefit plans, and beneficiaries together for assigning primary and contingent beneficiaries to life insurance plans. To assign a beneficiary to a benefit plan, you must link the beneficiary with the employee in the Employee Dependents/Beneficiaries screen and select the Beneficiary or Both radio button in the Type group box. The benefit plan must be a Life Insurance plan that is set up in the Benefit Plan Setup screen in Costpoint Benefits.
You cannot assign beneficiaries to benefit plans until you have set up the Employee Dependents/Beneficiaries screen. After you have set up that screen, you can add to this screen at any time, and enter an unlimited number of records, provided that the Percent column for each beneficiary type adds up to 100%.
Enter, or use Lookup to select, the ID number of the employee whose beneficiaries you want to assign to a benefit plan. Your entry will be validated against the Employee table in the Basic Employee Info screen. The name of the employee is displayed in the field to the right of the ID. This is a required field.
Enter, or use Lookup to select, the code for the benefit plan you want to assign to this beneficiary. Your entry will be validated against the Benefit Plans table. The description of the benefit plan is displayed in the field to the right of the code. This is a required field.
Enter the date, in MM/DD/YYYY format, on which beneficiaries were assigned to this plan for this employee. This field is required.
Enter the date, in MM/DD/YYYY format, on which this assignment was notarized. This field is optional.
Select this checkbox if primary and/or contingent beneficiaries are to receive equal shares of the proceeds from the employee's life insurance plan.
Select this checkbox if primary and/or contingent beneficiaries are to receive unequal shares of the proceeds from the employee's life insurance plan.
Select this checkbox if distribution of the proceeds of this employee's life insurance plan is to be governed by the Common Disaster Clause.
Select this checkbox if distribution of the proceeds of this employee's life insurance plan is affected by the Unborn Children Clause.
After selecting the New Line button on the toolbar, enter P" (Primary) or "C" (Contingent) to indicate the type of beneficiary. This is a required field.
This non-editable field displays the beneficiary's name as it appears in the Employee Dependents/Beneficiaries screen.
This non-editable field displays the nine-digit social security number of this beneficiary. This value comes from the Employee Dependents/Beneficiaries screen.
This field displays the code for the beneficiary's sex, depending on the radio button you selected in the Gender group box in the Employee Dependents/Beneficiaries screen.
This non-editable field displays the beneficiary's date of birth or agreement, which is taken from the Employee Dependents/Beneficiaries screen.
This non-editable field displays the beneficiary's relationship to this employee, which comes from the Employee Dependents/Beneficiaries screen.
Enter the percent of shares this beneficiary will receive in the event of a claim payout. This value must be between 1% and 100%. The sum of all "P" beneficiary types must equal 100%, and the sum of all "C" beneficiary types must equal 100%. This field is required.
Changes to this screen update the HB_EMPL_LIFE_BNFIC table.