Most benefit plans base life and disability insurance payments on employees’ earnings. For this reason, it is important to keep this information up-to-date in Empire Life records, for all insured employees. Out-of-date salary data can have a serious impact on the financial wellbeing of employees and their families, should they need to take time off work due to an injury or illness, or if a life insurance claim is made.
Did you know? If you send us a notice of a change in earnings when you file a claim, this change will only be processed when the employee is actively at work again.
Please refer to your policy for full coverage details.
Important things to remember when communicating changes in employee salary/earnings:
- For changes to an hourly wage, indicate the number of hours the employee works per week
- For changes to salary amount, indicate salary frequency: weekly, monthly or annual.
- If your plan insures commission earnings, please communicate the commission earnings annually, at the time T4 calculations are prepared for the previous year. Remember to update commissions as a separate amount, independent from base salary.
The Group Administrator Portal makes it fast and easy to administer these updates.
Still need to get started using the Group Administrator Portal? Here’s an overview on how to get enrolled for this free, easy tool.