Significance of "Restrict Rate on Program" when creating Standard Rates

Summary:

Hi All,

As part of an optimization effort I have to consolidate rates configuration at a client. At the moment they have 4 programs but with common plans across the 4 programs. There are 4 sets of rates (one for each plan/program combination). Ideally, the 4 programs could have been combined into a single program, but doing so at this point is almost a re-implementation and is ruled out.

To help with yearly maintenance of rates, our approach was to inactivate current rates and create one set of rates for each plan (irrespective of program). We were hoping that leaving the "Restrict Rate on Program" blank will help with this. But when we process a life event, we do not see this new rate coming up.