Maintain Insurance Master

Insurance Master

The “Insurance Master” screen enables the employers to provide benefits to employees and offer various types of insurance policies with various coverage levels. You are allowed to create policies applicable to the organization and also define a policy by specifying a unique Policy Code and Description, Service Provider and Third Party Administrator. In addition to this you can record Coverage Category, Coverage Level, Sum Insured and Premium per Month with an Effective From Date and also can maintain history of changes. You are also allowed to define time period for a policy and can make it inactive at any time.

Select the “Insurance Master” activity under the “General Masters”.

The “Maintain Insurance Master” page appears.

Enter the following field details in the header:

Policy	From the drop-down list box, select the type of policy. The combo is loaded with various policy types for you to choose. The system displays “Select” by default on launch of the page. Mandatory.
Policy Start Date	The date from which the policy is effective. Mandatory.
Policy End Date	The date till which the policy is effective.
Policy Code	The policy code for the selected policy. Mandatory.
Policy Description	The description for the selected policy. Mandatory.
Service Provider	From the drop-down list box, select the insurance service provider. The combo is loaded with various service providers for you to choose. The system displays “Select” by default on launch of the page. Mandatory.
Third Party Administrator	From the drop-down list box, select the third party administrator. The combo is loaded with the values “Group Mediclaim Coverage”, Group Personal Accident” and “Group Term Life Insurance”. The system displays “Select” by default on launch of the page. Mandatory.

Select the “Inactive” check box to inactivate the particular policy.
Enter the following field details in the “Maintain Insurance Master” multiline:

Coverage Category	From the drop-down list box, select the policy coverage category. The combo is loaded with the values “Family Floater” and “Self”. The system displays “Select” by default on launch of the page. Mandatory.
Coverage Level	From the drop-down list box, select the policy coverage level. The combo is loaded with various coverage levels for you to choose. The system displays “Select” by default on launch of the page. Mandatory.
Sum Insured	The sum insured amount for the policy. Mandatory.
Premium per Period	The premium cost per pay period. Mandatory.
Modification Option	From the drop-down list box, select the required modification option. The combo is loaded with the values “Correct” and “Update”. The system displays “Select” by default on launch of the page.
Effective From	The date from which the policy is effective. Mandatory.
Effective To	The date till which the policy is effective.

Select the required field and click “Save” to save the entered insurance master details.