Question

XX Life Insurance plan has two options: Option 1 enrolls a dependent of age 21 or above and Option 2 enrolls a dependent aged 18 or less.

How do you define a benefit configuration for these two options?
A) Create one derived factor. Create an eligibility profile and configure the derived factor under the eligibility profile. Then attach the eligibility profile to XX Life Insurance plan at Option 1, and then attach the same eligibility profile at Option 2.
B) Create two derived factors, one with age as 21 or above and a second with age 18 or less. Create an eligibility profile and configure these two derived factors under the eligibility profile. Then attach the eligibility profile to XX Life Insurance Plan.
C) Create one derived factor. Create an eligibility profile and configure the derived factor under the eligibility profile. Then attach the eligibility profile to XX Life Insurance plan.
D)Create two eligibility profiles. One with age as 21 or above and a second with age 18 or less. Then attach these eligibility profiles to XX Life Insurance Plan

Answer 1

To define a benefit configuration for these two options in the XX Life Insurance plan, you need to create two derived factors - one for age 21 or above and another for age 18 or less. Then, create an eligibility profile and configure these two derived factors under that profile. Finally, attach the eligibility profile to both Option 1 and Option 2 in the XX Life Insurance plan.

Step-by-step explanation:

The answer to the question is B) Create two derived factors, one with age as 21 or above and a second with age 18 or less. Create an eligibility profile and configure these two derived factors under the eligibility profile. Then attach the eligibility profile to XX Life Insurance Plan.