Simplified Issue Term with Debit Card

[charquin]

Looking for a carrier who offers simplified issue term life for 100k in TN that allows Debit cards.

 

[moonlightandmargaritas]

Looking for a carrier who offers simplified issue term life for 100k in TN that allows Debit cards.

Many carriers offer this.

 

[Jerard]

Looking for a carrier who offers simplified issue term life for 100k in TN that allows Debit cards.

Federal Life takes CC for all ages, I assume they take the DC, too, but I haven't used them yet. The Level Term product is in TN. Note that on the app it lists an "additional insured", ignore that. The only riders available are the CTR, AD and PW. Rates are mid-range. You can contract direct, too.

 

[DHK]

Assurity Life will accept a Visa or MasterCard for initial and ongoing payments on ALL their policies... as long as you use the online e-app.

 

[charquin]

Thanks for the information DHK and Jerard. Normally have done paper apps with Assurity and was not aware of the CC option on the e-app.

 

[VolAgent]

Assurity Life will accept a Visa or MasterCard for initial and ongoing payments on ALL their policies... as long as you use the online e-app.

They will not take DE cards nor any type of pre-paid card. Their provider can't process them.

Also, you can always do a paper app and then have the client call in with the card and authorize payment that way.

 

[DHK]

https://assurelink.assurity.com/AssureLink/Content/Pdfs/Triangle_MarApr2014.pdf

Assurity is pleased to announce a new function available exclusively using e-apps. Through e-apps only, Assurity accepts credit and debit card payments for initial and recurring premium payments. We accept VISA, MasterCard and Discover credit/debit cards. This new card option is available for all Assurity products with e-app except Single Premium Whole Life.

The credit/debit card payment option for initial payment is NOT available with paper applications. However, after a policy has been issued, the customer can change the payment method to recurring credit/debit card by contacting the client services department at (800) 869-0355, Ext. 4279.

Available dates for recurring payments are on any day between the 1st and the 28th of each month. Customers also have the option of paying the premium by automatic bank withdrawal.

Assurity has reported a 31 percent increase in e-submitted apps for our simplified products after the card payment option was announced. (The phase one release was only for Assurity’s simplified products.) Additionally, since this option was introduced, 12 percent of e-submitted apps for simplified products have had the card payment option selected.

E-apps allow for easy completion of insurance applications online, 100 percent in good order.

 

[VolAgent]

Trust me when I say Assurity cannot handle Direct Express or pre-paid cards. I have found this out the hard way. Whoever is doing the cards for them cannot process them. Assurity even called and asked and that is what they were told.

The thing about the cards is, they do not want the agent having that information. That is why it has to be an e-app, their system will not show it again to the agent and it is redacted from the application generated.

 

[DHK]

Oh, I believe you about pre-paid cards. You mentioned "DE cards" and I thought you meant debit cards instead of direct express. (I don't even know what those are.)

 

[charquin]

Good to know. They are using a prepaid rushcard. Need another carrier for this. Any other recommendation for this? 100k simplified issue with prepaid debit card? Any help appreciated.