Calculating the cost of excess life insurance

Run Life Insurance Reportable Income (BN150) to calculate the cost of excess employee and dependent life insurance for each employee.

You can calculate the cost of excess life insurance annually, monthly, or on a pay period basis.

Before you run Life Insurance Reportable Income (BN150), you must complete enrollment maintenance and flag plans included in the excess life insurance calculation. For more information, see the Infor Benefits Administration User Guide.

Note: The Benefits Administration application performs calculations based on the coverage and contributions in effect on the As of Date. You can create a time record for each employee to update taxable wages. The time record represents the cost of excess life insurance for the reporting period.

Calculate the cost of excess life insurance

  1. Access Life Insurance Reportable Income (BN150).
  2. Complete the form. For more information, see the Infor Benefits Administration User Guide.
  3. Select the Submit form action to submit the report.