Classic | Group Life Policy and Disability Lumpsum Insurance Set-up
Employer-owned insurance policies,such as a Group Life Policy or Disability Lumpsum Insurance, where the company contributes on behalf of their employees, should be set-up as a Payroll Fund. The Group Life Policy or Disability Lumpsum Insurance needs to be configured before the component for the specific Group Life Policy or Disability Lumpsum Insurance can be created. Once the component has been added, it can be linked on the Employee Recurring Component Screen.
Please note: Click on any image in the article to enlarge.
NextGen or Classic
The Classic version is the name given to the previous look and feel of the system. Important to note, both NextGen and Classic point to the same database. No data migration is therefore applicable.
This article covers Group Life Policy and Disability Lumpsum Insurance Set-up for the
Classic version of the system.
An Example of the Classic Landing Page
The article that explains the same for the new and improved
NextGen version, is coming soon.
An Example of the NextGen Landing Page
This feature is available on Lite, Premier and Master.
Option 1: Company Menu>Administer Payroll Funds>Group Life Setup
Option 2: Company Menu>Administer Payroll Funds>Disability Lumpsum Setup
Both screens store the same fields. The Group Life Setup Screen will be used to address the fields.
Examples of Group Life Policies and Disability Lumpsum Insurance include Disease/Illness Benefit, Dread Disease, Permanent Disability Lump sum, Temporary Disability Lump sum and Funeral policies.
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