Changes for page Funeral Risk Policies

Last modified by Megan Kahl on 2021/12/01 11:51
<
From version < 19.1 >
edited by Dominique Tricerri
on 2021/09/02 07:49
To version < 20.1 >
edited by Dominique Tricerri
on 2021/09/02 08:00
>
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1 +(% style="text-align: center;" %)
2 +(% style="color:#2980b9; font-size:28px" %)**FUNERAL RISK POLICIES**
1 1  
2 -**DISCLAIMER**
3 3  
4 -Please note, whilst care is taken to illustrate numerous scenarios, it is impossible to detail all instances and therefore this document should merely serve as a guide for the purposes of demonstrating system functionality and conducting employee training.
5 +(% style="text-align: center;" %)
6 +(% style="color:#2980b9" %)**BY**
5 5  
6 -In accordance with the above paragraph, this training manual is published and distributed on the basis that EBSphere (Pty) Ltd is not responsible/accountable for any actions taken by users of information contained in this training manual nor for any error in or omission from this manual.
7 7  
8 -EBSphere (Pty) Ltd does not accept any responsibility whatsoever for a misrepresentation performed by any person in respect of claims, losses or damage or any other matter, either direct or consequential arising out of or in relation to the use and reliance, whether wholly or partially, upon any information contained or products referred to in this manual.
9 9  
10 -Further, the contents of this training manual are subject to change without any notice and further highlight the need for this training manual to serve only as a guide.
10 +(% style="text-align:center" %)
11 +[[image:Loading of Funeral Risk Policies_html_8cba33b1e8c9fa24.gif||height="128" width="463"]]
11 11  
12 12  
14 +(% style="break-before: page %)
15 +(% class="box infomessage" %)
16 +(((
17 +(% style="text-align: center;" %)
18 +(% style="color: rgb(41, 128, 185); font-size: 20px" %)**Table of Contents**(%%)
13 13  
14 14  
21 +{{toc/}}
15 15  
23 +
24 +)))
16 16  
17 17  
27 +(% style="break-before: page; text-align: center;" %)
28 +== (% style="color:#2980b9" %)**Adding a New Funeral Risk Policy**(%%) ==
18 18  
19 -**COPYRIGHT**
20 20  
21 -This documentation and the software described in it is the exclusive property of EBSphere (Pty) Ltd. This manual or the software may not be copied in whole or part, without the express written consent of EBSphere (Pty) Ltd. Under the law, copying includes translating into another language or format.
22 -
23 -EBSphere (Pty) Limited
24 -
25 -P.O. Box 785803
26 -
27 -Sandton
28 -
29 -2146
30 -
31 -
32 -
33 -[[image:Loading of Funeral Risk Policies_html_8cba33b1e8c9fa24.gif||height="96" width="344"]] [[image:Loading of Funeral Risk Policies_html_857ba1e075348553.png||height="13" width="656"]] //Loading of Funeral Risk Policies//
34 -
35 35  The process of adding Risk Policies starts at the Parent level. Once the policy is loaded it will need to be linked to a Client/ Participating Employer.
36 36  
37 37  This example illustrates the process of loading a Risk Policy at the initial stage i.e., at a Parent level.
... ... @@ -38,164 +38,200 @@
38 38  
39 39  This guide details the most common scenarios. Should a scenario you require not be covered, please contact your System Administrator for guidance.
40 40  
41 -Create the Parent Policy
42 42  
43 -Select the relevant Parent:
38 +=== (% style="color:#2980b9" %)**Create the Parent Policy**(%%) ===
44 44  
45 -[[image:Loading of Funeral Risk Policies_html_d8abfbd9e4963796.png||height="231" width="489"]]
46 46  
47 -Go to the Client menu and select “**Risk Policies**”:
41 +Select the relevant Parent:
48 48  
49 -[[image:Loading of Funeral Risk Policies_html_23cbd2e697691866.png||height="255" width="142"]]
43 +(% style="text-align:center" %)
44 +[[image:Loading of Funeral Risk Policies_html_d8abfbd9e4963796.png||height="auto" width="auto"]]
50 50  
51 -If Risk Policies have previously been set up, a list of these will appear.
52 52  
53 -[[image:Loading of Funeral Risk Policies_html_f459a84c3188df4.png||height="70" width="630"]]
47 +Go to the Client menu and select “**Risk Policies**”:
54 54  
55 -To load a new Risk Policy, click on the row to create a new entry. Complete the relevant information. Take special note of the following:
49 +(% style="text-align:center" %)
50 +[[image:Loading of Funeral Risk Policies_html_23cbd2e697691866.png||height="auto" width="auto"]]
56 56  
57 -**Effective Date:** Enter the policy number of the scheme.
58 -
59 -**Policy No:** Enter the policy number of the scheme
60 60  
61 -**Insurer No:** Enter the Insurer number of the scheme
53 +If Risk Policies have previously been set up, a list of these will appear.
62 62  
55 +(% style="text-align:center" %)
56 +[[image:Loading of Funeral Risk Policies_html_f459a84c3188df4.png||height="auto" width="auto"]]
63 63  
64 -**Risk Type: **Select the Risk Type from the drop-down option.
65 65  
66 -**Description: **Enter the Risk Description in the text field under the heading “Description”. For ease of reference, enter the “Client Name” first and then the description of the Policy
59 +To load a new Risk Policy, click on the row to create a new entry. Complete the relevant information. Take special note of the following:
67 67  
68 -**Bank Ref: **This is the reference number that will appear on the Insurers bank statement
69 69  
70 -[[image:Loading of Funeral Risk Policies_html_58666766dee03261.png||height="146" width="630"]]
62 +(% style="color:#2980b9" %)**Effective Date:** (%%)Enter the policy number of the scheme.
71 71  
72 -Press the “**Update**” button to save the entry and then press the save icon. [[image:Loading of Funeral Risk Policies_html_a6c090836202dcb0.png||height="26" width="28"]]
64 +(% style="color:#2980b9" %)**Policy No:**(%%) Enter the policy number of the scheme
73 73  
74 -Click on the __edit__ hyperlink next to the selected Risk Policy to load the Policy details.
66 +(% style="color:#2980b9" %)**Insurer No:** (%%)Enter the Insurer number of the scheme
75 75  
76 -[[image:Loading of Funeral Risk Policies_html_7204b494e0ee50ee.gif||alt="Shape1"]]
68 +(% style="color:#2980b9" %)**Risk Type:**(%%)** **Select the Risk Type from the drop-down option.
77 77  
78 -[[image:Loading of Funeral Risk Policies_html_6fb6cfef2d51e5b7.png||height="44" width="630"]]
70 +(% style="color:#2980b9" %)**Description:**(%%)** **Enter the Risk Description in the text field under the heading “Description”. For ease of reference, enter the “Client Name” first and then the description of the Policy
79 79  
72 +(% style="color:#2980b9" %)**Bank Ref:**(%%)** **This is the reference number that will appear on the Insurers bank statement
80 80  
74 +(% style="text-align:center" %)
75 +[[image:Loading of Funeral Risk Policies_html_58666766dee03261.png||height="auto" width="auto"]]
81 81  
82 82  
78 +Press the “**Update**” button to save the entry and then press the save icon. [[image:Loading of Funeral Risk Policies_html_a6c090836202dcb0.png||height="26" width="28"]]
83 83  
84 84  
81 +Click on the (% style="color:#2980b9" %)__edit__ (%%)hyperlink next to the selected Risk Policy to load the Policy details.
85 85  
86 86  
84 +(% style="text-align:center" %)
85 +[[image:Loading of Funeral Risk Policies_html_6fb6cfef2d51e5b7.png||height="auto" width="auto"]]
87 87  
88 88  
88 +(% style="break-before: page %)
89 +=== (% style="color:#2980b9" %)**General Info Tab**(%%) ===
89 89  
90 90  
91 -
92 -
93 -
94 -
95 -
96 -General Info Tab
97 -
98 98  Complete all pertinent information. Take special note of the following:
99 99  
100 -**Approved Scheme:** Is this an Approved Scheme? If “**Yes**”, activate the relevant tick box under the “**General**” Component of the screen.
101 101  
102 -**Exclusive Expense:** Is the risk premium an inclusive or exclusive expense? In other words, is this expense included in the contribution paid or added over and above the contributions payable to the Fund? To trigger an exclusive expense i.e. paid over and above the contributions, activate the relevant tick box under the “**Miscellaneous**” Component of the screen.
95 +(% style="color:#2980b9" %)**Approved Scheme:** (%%)Is this an Approved Scheme? If “**Yes**”, activate the relevant tick box under the “**General**” Component of the screen.
103 103  
97 +(% style="color:#2980b9" %)**Exclusive Expense:**(%%) Is the risk premium an inclusive or exclusive expense? In other words, is this expense included in the contribution paid or added over and above the contributions payable to the Fund? To trigger an exclusive expense i.e. paid over and above the contributions, activate the relevant tick box under the “**Miscellaneous**” Component of the screen.
98 +
104 104  If the tick box has not been activated the expense will be deemed to be an inclusive expense i.e. forms part of the contributions payable to the Fund.
105 105  
106 -**Paid by ER?:** Who is responsible for the payment of the premiums? If the premiums are to be paid by the Employer, activate the relevant tick box under the “Miscellaneous” Component of the screen.
101 +(% style="color:#2980b9" %)**Paid by ER?:** (%%)Who is responsible for the payment of the premiums? If the premiums are to be paid by the Employer, activate the relevant tick box under the “Miscellaneous” Component of the screen.
107 107  
108 -
109 109  If the tick box has not been activated the expense will be deemed to be paid by the Employee / Member.
110 110  
111 -**Bank Account:** Ensure that a Bank Account is selected from the drop-down option. Should no bank account be entered here, the system will assume that a Risk Reserve Account should be utilised for premium allocation.
105 +(% style="color:#2980b9" %)**Bank Account:**(%%) Ensure that a Bank Account is selected from the drop-down option. Should no bank account be entered here, the system will assume that a Risk Reserve Account should be utilised for premium allocation.
112 112  
113 113  Should the required Bank Account not appear on the drop-down list, contact your System Administrator who is able to add to this list.
114 114  
115 -**Age Calculations: **Select the Age Calculation method from the drop-down option located on the bottom right hand section of the screen. This calculation method is only used for risk premium calculations, if applicable.
109 +(% style="color:#2980b9" %)**Age Calculations:**(%%)** **Select the Age Calculation method from the drop-down option located on the bottom right hand section of the screen. This calculation method is only used for risk premium calculations, if applicable.
116 116  
111 +(% style="text-align:center" %)
117 117  [[image:Loading of Funeral Risk Policies_html_7a5ad9a83d586e3e.png||height="353" width="636"]]
118 118  
119 -Risk Premiums Tab
114 +(% style="break-before: page %)
115 +=== (% style="color:#2980b9" %)**Risk Premiums Tab**(%%) ===
120 120  
117 +
121 121  Select the “**Risk** **Premiums**” Tab located on the top of the screen to reflect all Premium information recorded. To add premium information, click on the row to create a new entry.
122 122  
123 -[[image:Loading of Funeral Risk Policies_html_13cdb097cf7c7746.png||height="102" width="636"]]
120 +(% style="text-align:center" %)
121 +[[image:Loading of Funeral Risk Policies_html_13cdb097cf7c7746.png||height="auto" width="auto"]]
124 124  
125 -**NOTE**
126 126  
124 +(% style="color:#2980b9" %)**NOTE**
125 +
127 127  Various methods of loading premiums exist, the two most common are:
128 128  
129 129  * One standard rate for all members
130 130  * Age-Related Premiums - If an age-band is used for premium calculation purposes, each tier of the age-band must be completed on a new line.
131 131  
131 +
132 132  Complete the relevant premium information.
133 133  
134 -[[image:Loading of Funeral Risk Policies_html_e563a0472bac3245.png||height="189" width="567"]]
134 +(% style="text-align:center" %)
135 +[[image:Loading of Funeral Risk Policies_html_e563a0472bac3245.png||height="auto" width="auto"]]
135 135  
137 +
136 136  Numerous methods of calculating premiums exist. In this example a **Fixed Amount**, has been selected.
137 137  
138 138  In addition to the Percentage of Payroll method, a **Rate Factor** per Mille or a **Percentage of Salary** could be entered for premium calculation purposes. Alternatively, a combination of these could be utilised.
139 139  
140 -[[image:Loading of Funeral Risk Policies_html_b2a3e7538b3f2f35.png||height="238" width="630"]]
142 +(% style="text-align:center" %)
143 +[[image:Loading of Funeral Risk Policies_html_b2a3e7538b3f2f35.png||height="auto" width="auto"]]
141 141  
145 +
142 142  Take special note of the following:
143 143  
144 -**Max Salary **This is the maximum salary, based on Annual Risk Salary, which is applied for premium calculation purposes.
148 +(% style="color:#2980b9" %)**Max Salary :**(%%)** **This is the maximum salary, based on Annual Risk Salary, which is applied for premium calculation purposes.
145 145  
146 146  This field should only be used if premiums are subjected to maximum limits. If no restrictions to premiums apply, this field should be ignored.
147 147  
152 +(% style="color:#2980b9" %)**Reins Commission (Insured Schemes only) :**(%%)This field, expressed as a percentage of risk premiums should only** **be utilised if commission is payable to the Scheme, from the Insurer.
148 148  
149 -**Reins Commission **This field, expressed as a percentage of risk premiums should only
154 +(% style="color:#2980b9" %)**Rate Factor :**(%%)This is generally not used for Funeral premiums.
150 150  
151 -**(Insured Schemes only) **be utilised if commission is payable to the Scheme, from the Insurer.
156 +(% style="break-before: page %)
157 +=== (% style="color:#2980b9" %)**Funeral Tab**(%%) ===
152 152  
153 -**Rate Factor **This is generally not used for Funeral premiums.
154 154  
155 -
156 -Funeral Tab
157 -
158 158  Select the “Funeral” Tab located on the top of the screen to reflect all risk benefits recorded. To load the benefit structure, click to add a row to create a new entry.
159 159  
160 -[[image:Loading of Funeral Risk Policies_html_c31f2854296b0348.png||height="61" width="630"]]
162 +(% style="text-align:center" %)
163 +[[image:Loading of Funeral Risk Policies_html_c31f2854296b0348.png||height="auto" width="auto"]]
161 161  
162 -[[image:Loading of Funeral Risk Policies_html_429373b93c372d2b.png||height="185" width="630"]]
165 +(% style="text-align:center" %)
166 +[[image:Loading of Funeral Risk Policies_html_429373b93c372d2b.png||height="auto" width="auto"]]
163 163  
168 +
164 164  Complete all pertinent information. Take special note that the benefits loaded on this screen do not calculate an actual benefit. It is usually for information purposes only. Should you need Everest to calculate a benefit, please speak to your System Administrator for more info.
165 165  
171 +(% style="break-before: page %)
172 +=== (% style="color:#2980b9" %)**Free Cover Limit (FCL) Tab**(%%) ===
166 166  
167 167  
175 +Always load a Free Cover Limit equal to the highest payable tier of the Funeral Scale.
168 168  
169 169  
178 +Select the “**FCL**” Tab located on the top of the screen to reflect all Free Cover Limit information recorded.
170 170  
180 +(% style="text-align:center" %)
181 +[[image:Loading of Funeral Risk Policies_html_7449cde78573524c.png||height="auto" width="auto"]]
171 171  
172 172  
184 +To load a Free Cover Limit, click to add a row to create a new entry. Enter the Effective Date and the Free Cover Limit amount expressed as a total benefit amount.
173 173  
186 +Press the “**Update**” button. And then press the save icon at the bottom of the screen.
174 174  
188 +(% style="text-align:center" %)
189 +[[image:Loading of Funeral Risk Policies_html_8bbfa88a85276cfe.png||height="auto" width="auto"]]
175 175  
176 176  
192 +Information must not be overridden. Rather, a new line item should be created so as to maintain a history of all prior Free Cover Limit information loaded.
177 177  
178 178  
179 -FREE COVER LIMIT (FCL) TAB
195 +=== (% style="color:#2980b9" %)**Linked Policies Tab (Insured Schemes Only)**(%%) ===
180 180  
181 -Always load a Free Cover Limit equal to the highest payable tier of the Funeral Scale.
182 182  
198 +This screen is not necessary for funeral benefits.
183 183  
184 -Select the “**FCL**” Tab located on the top of the screen to reflect all Free Cover Limit information recorded.
185 185  
186 -[[image:Loading of Funeral Risk Policies_html_7449cde78573524c.png||height="61" width="632"]]
201 +(% style="break-before: page; text-align: center;" %)
202 +== (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==
187 187  
188 -To load a Free Cover Limit, click to add a row to create a new entry. Enter the Effective Date and the Free Cover Limit amount expressed as a total benefit amount.
189 189  
190 -Press the “**Update**” button. And then press the save icon at the bottom of the screen.
205 +(% style="color:#2980b9" %)**DISCLAIMER**
191 191  
192 -[[image:Loading of Funeral Risk Policies_html_8bbfa88a85276cfe.png||height="114" width="630"]]
207 +Please note, whilst care is taken to illustrate numerous scenarios, it is impossible to detail all instances and therefore this document should merely serve as a guide for the purposes of demonstrating system functionality and conducting employee training.
193 193  
194 -Information must not be overridden. Rather, a new line item should be created so as to maintain a history of all prior Free Cover Limit information loaded.
209 +In accordance with the above paragraph, this training manual is published and distributed on the basis that EBSphere (Pty) Ltd is not responsible/accountable for any actions taken by users of information contained in this training manual nor for any error in or omission from this manual.
195 195  
196 -LINKED POLICIES TAB (Insured Schemes Only)
211 +EBSphere (Pty) Ltd does not accept any responsibility whatsoever for a misrepresentation performed by any person in respect of claims, losses or damage or any other matter, either direct or consequential arising out of or in relation to the use and reliance, whether wholly or partially, upon any information contained or products referred to in this manual.
197 197  
198 -This screen is not necessary for funeral benefits.
213 +Further, the contents of this training manual are subject to change without any notice and further highlight the need for this training manual to serve only as a guide.
199 199  
200 200  
216 +(% style="color:#2980b9" %)**COPYRIGHT**
201 201  
218 +This documentation and the software described in it is the exclusive property of EBSphere (Pty) Ltd. This manual or the software may not be copied in whole or part, without the express written consent of EBSphere (Pty) Ltd. Under the law, copying includes translating into another language or format.
219 +
220 +
221 +EBSphere (Pty) Limited
222 +
223 +P.O. Box 785803
224 +
225 +Sandton
226 +
227 +2146
228 +
229 +
230 +(% style="text-align:center" %)
231 +[[image:Everest User Manuals.4\. Fund Setup.Adding a New Client.Paypoints.WebHome@EBSphere_RGB Small.jpg]]
232 +
233 +

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