Adding a Scheme

Schemes can be added for employee benefits, pensions, health insurance, life insurance etc. Each ‘employee’ of the company will have their own individual client record in the client data base and an individual contract, which will show on their own record.

There are 2 ways to add a new scheme to:

  • Record an enquiry and convert this to a new scheme, or;
  • Add the scheme from scratch from within the Schemes tab.

It is possible to record an enquiry for a scheme in the same way as would be done for an individual client.  Navigate to the Holdings section of the corporate record and then to the ‘Enquiries’ tab. Use ‘Add record’ to add a new enquiry.

Once the research has been done, and the most appropriate scheme has been decided upon for the client, record these details within the Recommendation tab:

On the ‘Cover and investment levels’ tab, click on this button at the bottom of the page:  .  This will convert these details into a new scheme for the corporate client.

Once this has been done, carry on and complete the scheme details.   Confirmation of how to do this is shown in the following information. However you should ignore the next screen shot.

To create a new scheme without using Enquiries, go to the Holdings record of the corporate client and to the ‘Schemes’ tab.

Add a record and complete the Overview screen as required. The ‘Overview’ screen on a scheme is similar to the product screen for an individual holding.

Once all the tabs in the Overview section have been fully completed move onto the Details section.  The screens presented will reflect the type of scheme this is e.g. money purchase or group PHI.

For schemes with different tiers, add these in using Principal and Additional tabs.  For instance for GPP’s the employer and employee might pay different percentages and on a Group PMI there are different cover types depending on whether you are single, have children etc.

The screen shot on the next page shows a Final Salary scheme with 2 tiers for different employees.  When members are added the appropriate tier can be selected.

There is no ‘New business’ checklist or ‘Submission’ checklist on a scheme record. In the Administration screens there is a checklist but this will not affect the ‘new business register’, or incomplete ‘compliance checklists’, as each individual member’s policy will have its own set of ‘New business’ and ‘Submission’ records.

Complete all fields as required.

When a Group Scheme is due for renewal there is the ‘Tracking’ section to record the relevant dates for the renewal.  Once this has been recorded, print the ‘Group scheme tracker report’ for your records, as this information will be overwritten the next time you enter renewal dates.

The Remuneration section on the Schemes record should only be used if remuneration is being paid for the scheme itself.  If, however, remuneration is going to be paid on each member of the scheme, individual remunerations should be added to the member’s full record. 

Any remuneration added to an individual member of a scheme will show in this scheme Remuneration section.