This is version 1 2 3 4 5 . It is not the current version, and thus it cannot be edited.

Back to current versionRestore this version

Benefit Reduction Percentage {optional}#

This component applies a percentage reduction to the coverage amount based on the application of a reduction rule.

Is the coverage to be reduced based on a reduction rule?

Yes: Choose the rule to be used

No: Go to B0470

Rule	Description	Logic	Assoc.	Go to
01	Based on Reduction Percentage	Multiplies the coverage value by the reduction percentage found on the Reduction Rule form when the employee is on waiver.		B0470
02*	Based on Employee’s Age	Multiplies the coverage value by the reduction percentage found on the Reduction Rule form when the employee has a benefit reduction due to age.		B0470
03	Based on Spouse's Age	Multiplies the coverage value by the reduction percentage found on the Reduction Rule form when the spouse has a benefit reduction due to age.		B0470
04	Based on Employee Age as of DD-MON of the Current Year	Multiplies the coverage value by the reduction percentage found on the Reduction Rule form when the employee has a benefit reduction due to age as of a certain date on the current year. Enter DD-MON in the 'Value' field of the Benefit Components tab (i.e. '01-JUL').		B0470

IBPN Benefit Components

---

Notes #

Click to create a new notes page