Pay Plan Renewal Groups

Prior to Version 526 of Diamond, new Pay Plans had to be added so that Renewals processed successfully and errors did not occur on Pay Plan changes or policy changes. Additionally, problems also existed with Automatic Renewal Pay Plans being expired by the time a policy was set to renew and failed. This function allows users to have a "one to many" Pay Plan pathway for Renewals as opposed to a "one to one" path used in prior versions of Diamond.

Pay Plans are no longer tied to a version id. They are now tied to Company / State / Line of Business, Policy Term and Bill Method (Company Setup: Line of Business Tab). When policies renew into a different Pay Plan, "group information" (established here) is used as opposed to using a specific identifier. For example, all "4 Pay" Pay Plans are grouped together. Diamond finds the Pay Plan in the group that is valid for the effective date of the renewal and assigns it as the Renewal Pay Plan on a policy. If there is more than one, Diamond finds the Pay Plans with the latest Renewal Start Date.

Add New Pay Plan Renewal Group

• Click Add.
• Group Name: Can be alphanumeric; enter a name that is recognizable.
• Select Column: Opposite each Pay Plan being included in the group, click in the Select column.
• Click Save when finished.

The group is added to the Grid View.

Edit Pay Plan Renewal Group

• Highlight the group in the Grid View; click Edit.
• Add new pay plans or remove the check (click in the Select column).
• Click Save to retain your changes.

Delete Pay Plan Renewal Group

If a Pay Plan Renewal group is obsolete and will not be used anymore, you can delete it.

• Highlight the group in the Grid View; click Delete.
• Answer Yes to the question: "Are you sure you want to delete the selected Pay Plan Renewal Group?"

• The group is removed.

Once you have established Pay Plan Renewal Groups here, associate them with the Company / State / Line of Business, Policy Term and Bill Method in Company Setup on the Line of Business Tab.