Example of Setting Up a Temporal Life Event

You want to reduce the coverage amount of a life insurance benefit by 65% when a participant's age reaches 65.

Also, you want to set this up so that the temporal life event is processed only until 60 days after the life event occurred date. Here's how you achieve this scenario.

Step
Edit the delivered Age Changed life event and set a 60-day timeliness rule.	You can find the Age Changed life event on the Life Events page in the Plan Configuration work area. In the Edit Life Event page, Additional Information section, you provide values to these key fields: In the Temporal Detection Rule field, select Do not detect past temporal events. You're using this rule because you don't want to prevent the life event from triggering, but at the same time, you don’t want them triggering under every circumstance. In the Timeliness Evaluation field, select Process potential life events manually. In the Timeliness Days field, enter 60. That means the application will continue to process that life event until 60 days after the life event occurred date. As a best practice, you set 60 or 90 days for all events or as required by your carrier or business process.
Create 2 derived factors to define these age bands: 60 to 64 65 and over	The Manage Derived Factors task is in the Plan Configuration work area. Create an Age derived factor and provide values to these key fields: In the Age to Use field, select Person's. In the Units field, select Years. In the fields in the Range of Value section, enter the minimum age and maximum age, which is 60 and 64 in this case, . When you create a derived factor for the 65 and beyond age band. enter the minimum age, which is 66 in this case, and leave the Less than Age field blank. In the Determination Rule field, select First of Calendar Year. This means that the application calculates the participant's age as of January 1.
Create 2 eligibility profiles and add the age derived factors that you created in the previous step.	You create eligibility profiles on the Manage Eligibility Profiles task in the Plan Configuration work area. On the Create Participant Eligibility Profile page, click the Derived Factors tab, and then the Age tab. In the Eligibility Criteria section, select the 60 to 64 derived factor that you created in the previous step. Likewise, create another eligibility profile and add the 65 and beyond derived factor.
Create 2 variable coverage profiles for the 2 age bands that you created: Coverage reduction for age 65 Coverage reduction for age 65 and over	In the Plan Configuration work area, on the Rates and Coverages tab, click Variable Coverage Profiles. On the Create Variable Coverage Profile page, provide values to these key fields: In the Tax Type Rule field, select After Tax. In the Activity Type field, select Plan Contribution. In the Treatment Rule field, select Subtract because you want to deduct the amount from the coverage. In the Defined Rate Frequency field, select Monthly. In the Eligibility Profile field, select the profile that you created previously, for example, the one you created for the 60-64 age band. In the Status field, select Active. In the Calculation Method field, select Multiple of Compensation. In the Multiplier field, enter .65. In the Multiple of Compensation section, select Multiply by in the Operator field. In the Compensation Factor field, select Annual Stated Compensation. Likewise, create another variable coverage profile for the 65 and over age band.
Link the life event and eligibility profiles to a life insurance plan. Enable the option to track ineligible participants.	Do these steps: In the Plan Configuration work area, search for the plan you created, open it, and select the Eligibility step. Select the Life Event tab and add the Age Changed life event. Select the Configuration tab, and select the Track ineligible persons check box. In this example, if a person's age crosses 65, then they are tracked as ineligible. Also, you recalculate the coverage to reduce it by 65%. Select the Participation tab and add the eligibility profile you created.
Run any of the participation processes to start processing temporal life events (one-time step)	After you’ve run this initial process, the data is kept up to date when the evaluation processes run.
Run the Evaluate Temporal Life Event Participation process	Run the process from the Processes tab on the Evaluation and Reporting work area. Ensure that you enable the audit log so that if there are issues, you can resolve them easily.
Run the Evaluate Life Event Participation process to determine eligibility	Run the process from the Processes tab on the Evaluation and Reporting work area. Select Age in the Detect Temporal Events parameter field Select an effective date. The effective date determines eligibility and electability. You can also use this date as a reference point to determine other dates such as start and stop dates for enrollment, coverage, and rates. If you select the Life Event mode, the effective date refers to the date the life event occurs. If you select the Scheduled or Selection modes, the effective date indicates the date when this person's elections should take effect.