Rates
Use the Rates tab to create and maintain rate schedules.
You must set up rate schedules for each VRS code defined by the state. The schedule should cover all ages from 0-999.
On the VA VRS Life Insurance page, filter records using the filter criteria. To enter filter criteria, select an option from the list and then select a value.
To add a record, click Add Record, complete the fields on the Deduction Codes tab, and click Save.
Select the Rates tab. Refer to the Field Descriptions and enter valid information in the required fields. Select Save, then Yes.
On the VA VRS Life Insurance page, select the ellipsis in the Actions column, and then edit or delete the record:
Select Edit. Update the information and select Save.
Select Delete, and then select Yes.
Field Descriptions
The information on the Rates tab is stored in the vavrsrate table.
The following table describes the fields on the Rates tab:
Field | Description |
|---|---|
Deduction Code | The deduction code that the rate schedule applies to. The value is retrieved from the Deduction Codes tab. |
Minimum Age | The minimum age applicable to this rate schedule. The rate schedule should cover all ages from 0-999. If an age is skipped, a warning is issued when you select Add. |
Maximum Age | The maximum age applicable to this rate schedule. The rate schedule should cover all ages from 0-999. If an age is skipped, a warning is issued when you select Add. |
Employee Rate | The employee deduction rate. Depending on the value selected in the Employee Type field on the Deduction Codes tab, enter the deduction rate with the matching format:
If 2 - Flat Rate is selected in the Employee Type field on the Deduction Codes tab, you must set up coverage with the desired rate for a given plan. |
Spouse Rate | The spouse deduction rate. Depending on the value selected in the Spouse Type field on the Deduction Codes tab, enter the deduction rate with the matching format:
If 2 - Flat Rate is selected in the Spouse Type field on the Deduction Codes tab, you must set up coverage with the desired rate for a given plan. |
Dependent Rate | The dependent deduction rate. Depending on the value selected in the Dependent Type field on the Deduction Codes tab, enter the deduction rate with the matching format:
If 2 - Flat Rate is selected in the Dependent Type field on the Deduction Codes tab, you must set up coverage with the desired rate for a given plan. |