Manage Coverage Amounts By Salary

Use the Manage Coverage Amounts By Salary screen to set up coverage amounts for employee salary ranges.

If your company has benefit plans in which coverage amounts differ by salary group, you can use this screen to set up the codes, related descriptions, and other information that will be used in determining life insurance coverage by salary ranges. These rates are generally used only for life insurance plans.

 You can apply this information to a benefit plan by entering the coverage table code in the Coverage Table column on the Coverage Options subtask of the Manage Benefit Plans screen under the following conditions:

• You selected the Coverage Table option in the Coverage Calculation Method group box on the Coverage Options subtask of the Manage Benefit Plans screen;
• You selected the Salary option on the Coverage Table group box in the Coverage Options subtask of the Manage Benefit Plans screen; and

Enter the coverage amounts by salary information before setting up a benefit plan that will be using this table. However, you can add to this table at any time, and an unlimited number of records may be established.