How to configure Guaranteed issue amount for Supplemental Employee life insurance
We have below requirment for supplemental life insurance , please let me know if it is possible to configure
o Guaranteed issue is
$200,000 the lesser of a $50,000 increase from current election and $200,000 (Guaranteed Issue: automatically approved up to a $50,000 increase UNLESS the total amount requested is over $200,000, in which case ANY increase requires proof of good health)
§ Example #1: Current coverage is $0 and the employee requests $150,000 during open enrollment. First $50,000 is automatically approved. The excess $100,000 will require proof of good health
§ Example #2: Current coverage is $200,000 and the employee requests $225,000. The excess $25,000 will require proof of good health
§ Example E3: Current coverage is $50,000 and the employee requests $75,000. This is automatically approved and doesn’t require any proof of good health.