Defining Guaranteed Issue Limits

Use the Guaranteed Issue Limits panel to set limits for an employee, spouse, and dependents if a life insurance plan is guaranteed to be issued.

To define guaranteed issue limits for a life insurance plan:

1. Open the Guaranteed Issue Limits panel:
Use this option To define this
Initial Eligibility Days The number of days required to determine a late entrant enrollee. The initial period is the later of this number of days after the date of hire or the effective date.
Newly Eligible Maximum Amount The maximum amount for a newly eligible employee, spouse, and dependents.
Newly Eligible Salary Multiplier

The salary multiplier to use instead of a flat amount. The plan uses the lesser value of the two.
Currently Enrolled Step Amount

The Currently Enrolled Step Amount for the employee, spouse, and dependents.

Currently Enrolled Maximum Amount

The Currently Enrolled Maximum Amount for the employee, spouse, and dependents.

Currently Enrolled Salary Multiplier

The salary multiplier to use instead of a flat amount. The plan uses the lesser value of the two.

Currently Enrolled Step Amount

The step amount for the employee, spouse, and dependents.

Late Entrant Maximum Amount

The maximum amount for the employee, spouse, and dependents.

Late Entrant Salary Multiplier

Enter the salary multiplier to use instead of a flat amount. The plan uses the lesser value of the two.

GI Rounding Method

The GI Rounding Method for the salary multipliers, if required.
2. Click Save.