BenefitAmount in the Benefit Enrollment Management schema is used to represent anything from a $500,000 LIFE insurance benefit amount to a $1,000 weekly STD benefit amount. To accurately communicate all the nuances in-between there are variables that can be used in conjunction with BenefitAmount to help better communicate the accurate amount. In this post we'l discuss how to use BenefitModeQuantity in conjunction with BenefitAmount. BenefitModeQuantity represents the frequency of benefit payments to the insured on an annual basis. For example, 52 represents a weekly benefit. So when used in conjunction to represent a weekly STD benefit amount of $1,000 the XML would look like this:
<BenefitAmount>1000</BenefitAmount>
<BenefitModeQuantity >52</BenefitModeQuantity >
For the annually-based $500,000 LIFE benefit amount, if the BenefitAmount reflects the annual (plan year) goal amount then the BenefitModeQuantity element is not required in the transmission. So that amount would look like this in XML:
<BenefitAmount>500000</BenefitAmount>
If you have questions about how to accurately pass a benefit amount or how any other BenefitAmount-related fields work with BenefitAmount, please respond to this thread. We'll gladly help guide you to a successful LDEx Standards Integration!
#LDEx-General#LDEx-API#LDEx-BEM#LDEx-Implementation#LDEx-JSON#LDEx-XML------------------------------
Michael J Grudgings
Business Architect, Data Standards | LL Global, Inc.
300 Day Hill Road, Windsor, CT, 06095
t: (860) 298-3850 |
mgrudgings@limra.com------------------------------