Third Party Administrator (TPA)
Client-Administered
Client
Insured
Supplemental Life
Carrier-Administered
Basic Life
Coverage Effective Date
Optional coverage that must be elected/applied for; employee is responsible for paying the premiums.
The date on which coverage becomes in force.
Coverage that is automatic with employment and paid for by the employer.
The individual person covered by the insurance.
The employer who offers insurance policies to its employees.
The client is the ‘record keeper’ of the insured profiles and coverage information. Also known as Self-Administered.
An outside vendor clients may choose to hire to handle their benefit administration.
Securian (the carrier) is the ‘record keeper’ of the insured profiles and coverage information. Also known as Home Office Administered.