Plenty of carriers price Basic Life by age, especially on smaller groups, and the rates climb steeply past 70. Plansight quotes Basic Life either way: a single composite rate, or a rate for each of 13 age bands from Under 20 up to 75+ Years. You pick the structure on each quote, enter the benefit volume for each band in the Modeler, and Plansight prices every band and totals the premium. The age band rates show on the spreadsheet and print on their own page in the presentation, so your client sees the exact rates the premium was built from.

Where to find it

• Choosing the rate structure: open a Basic Life quote, go to the Rates section, and use the Rate Structure setting.
• Entering band volume: on the Basic Life spreadsheet, open the Modeler (the + icon in the side panel), then the Volume tab.

Quoting Basic Life by age band

1. Open the Basic Life quote and scroll to Rates.
2. Under Rate Structure, select Age Banded. The 13 band rate fields open up, and the Life Rate /per $1,000 field greys out, since the bands now drive the employee Life premium.
3. Enter the carrier's rate per $1,000 for each band: Under 20, 20 - 24 Years, 25 - 29 Years and so on through 70 - 74 Years and 75+ Years. Every band needs a value, so enter 0 for any band with no rate.
4. Enter the AD&D, Spouse, and Child rates as usual, then save the quote.
5. Go to the Basic Life spreadsheet, open the Modeler, and choose the Volume tab.
6. Pick the plan group and plan option. Under Benefit Volume by Age Band, enter the benefit volume for each band, then enter the AD&D Volume as usual.
7. Review the spreadsheet. Plansight prices each band at its volume divided by 1,000, times its rate, and adds the bands up for the employee Life premium.

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What your client sees

• On the spreadsheet, the Rates section lists the 13 bands under the Life rate whenever at least one quote in view is age banded. Each band shows its rate per $1,000 with the benefit volume priced at that rate beside it.
• In the presentation, a Basic Life Age Banded Rates page, headed Rates by Age Band, follows the Basic Life & AD&D page. It uses the same columns as the Basic Life comparison page, up to five plan options per page, with each band's rate and volume.

Good to know

• Composite is the default. Every new Basic Life quote starts on Composite, and every existing Basic Life quote and saved template stays composite. Their rates, premiums, and presentations are exactly what they were.
• Only the employee Life rate is age banded. AD&D, Spouse, and Child rates stay flat in both structures.
• Switching back to Composite clears the band rates on that quote. The Life Rate /per $1,000 stays in its greyed-out field while Age Banded is selected, so it is still there if you switch back.
• You enter the band volume. Plansight prices the bands from the volume entered under Benefit Volume by Age Band, so take the volume for each band from the carrier's proposal. A band left without volume prices at zero.
• Which volume fields you see depends on the plan group. A plan group with an age-banded quote shows only the band inputs for that plan option. A plan group with only composite quotes shows the single Benefit Volume field, as usual. The All Plans view can feed both kinds, so it shows both and labels the single field (composite quotes).
• Mixing composite and age banded quotes is fine. On the spreadsheet and the age banded rates page, a composite quote keeps its column and shows dashes in the band rows. Where a page would show the single composite Life rate for an age banded quote, it shows a dash, because that rate is not what the premium was built from.
• The age-banded rates page appears on its own. Plansight adds it only for plan groups with at least one age-banded quote. A presentation with only composite Basic Life gets no extra page.
• Rates above 75 share one band. If a carrier splits 75 - 79 from 80+, the 75+ Years band holds one rate for both, so check that band against the carrier's sheet.

That's it: pick Age Banded, enter the band rates and volumes, and your Basic Life comparison shows your client the rates the carrier actually quoted.

Page tags: scout#planGroupQuoteCreate-groupLife, scout#gridInit-groupLife, scout#proposalEditor