Please carefully read the following updates regarding the removal of “Direct-Billing (Mail)” as a premium payment option and revisions to paper applications with wet signatures.
Removal of Direct-Billing (Mail) Premium Payment Option
LifeSecure will cease to offer “Direct-Billing (Mail)” as a premium payment option for applicants beginning on March 28, 2024.
Under the “Direct-Billing (Mail)” option, policyholders receive paper bills via USPS. After March 28, applicants will be able to choose between two efficient and customer-friendly premium payment options: electronic funds transfer (EFT) or automatic credit card.
Did you know? Policyholders who pay their LifeSecure premiums using an EFT tied to a bank account stay in force two times longer than policyholders who choose direct bill (mail) or credit card payments. And by staying in force longer, premiums paid using EFT help agents earn an average of 36% more in commissions.
Changes to Paper Applications
We are updating all fillable paper application PDFs for Accident, Critical Illness and Hospital Indemnity/Hospital Recovery insurance to exclude the “Direct-Billing (Mail)” option in the Premium Payment Authorization section. These PDFs will be available for downloading/printing in your Agent Portal beginning 3/14/2024. Note: The new application PDFs include “NDB” in the footer of page 1 to indicate “No Direct-Billing.”
If you use paper applications to obtain wet signatures from clients, please plan to destroy all blank hard copies and/or digital files of LifeSecure applications that were printed or downloaded on or before 3/27/2024.
Note: LifeSecure will not accept applications with “Direct-Billing (Mail)” selected as the premium payment option on or after 3/28/24.