Total Cost

Specify the total cost of the insurance coverage to the company. This cost field is based on Pay Frequency.

On the Insurance form, enter the rate per thousand

On the Employee Insurance form, enter the rate per pay period.

For example, if the Life Insurance rate for an employee is 1.50 and the amount of coverage is 50,000, then the Total Cost per month is $75.00. If the employee's pay frequency is semi-monthly, then $37.50 will be displayed in the Total Cost field. Weekly would display $17.31.