You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register
Get Started with Redwood for Oracle Cloud HCM   Begin Now

How to apply rates on a Plan Option only after receiving the update from a third party system for Op

edited Apr 12, 2021 5:03PM in Benefits 3 comments

Content

We have this requirement for Life Insurance where the Employee can choose 1x,2x,3x,4x of their annual salary and rates will be multiples of coverage. If they choose 2x or above,the data goes to a third party system and it returns back whether the employee is eligible or not. Please note that the response could take weeks or even months.

If thats the case,then the Employee coverage should be downgraded to 1x and rate should be charged based on that.

One way to implement it is to have options like

1x salary

1x top up, 2x top up, 3x top up and then use post election fast formula to select the 1x salary to implement it.

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!