Base Coverage for Unit Linked Policy

Base Coverage is the first segment that must be configured for a Unit Linked policy. Once the Base Coverage segment is saved, activities can be added to the policy.

 

Note: The Issue Date will be automatically populated on the Base Coverage segment once the Issue activity is processed. 

 

Steps to Add Base Coverage Segment

  1. Open a Unit Linked policy. The policy must be in Pending status.
  2. Click the Segment link on the Left Navigation menu.
  3. Click Add Segments from the Secondary menu.
  4. Select Base Coverage from the Segment drop down box.
  5. Enter the Sum Assured amount and select a currency code. This is the death benefit. This amount is also used when calculating the monthly charge for the policy.

    6.  

    Note: If a currency is not selected, then the plan currency will be assigned to the Sum Assured value. If a currency is selected, then a currency conversion will take place via a Function in the math, to convert the currency to the base currency when monthly charges need to be calculated.

     

  6. Select a Tobacco Use category from the drop down box. OIPA will check the rate table for the category assigned to determine the monthly charge for the policy.
  7. Click Save.

 

Unit Linked Policy Base Coverage Segment

Base Coverage Fields on Segment Screen

 

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