Offer More Payment Options With Credit Cards for Conditional Receipt

These days, people are less likely to carry a checkbook. That can make it inconvenient to provide the bank routing and account information required to complete a conditional receipt payment. We’re happy to announce that, starting in late October, applicants can pay for conditional receipt coverage online with credit cards (or debit cards).

We'll announce this new capability in the next IDI Connect and share detailed instructions then. In the meantime, here's some basic information about how it will work:

• When applicants complete the Disability Insurance Conditional Receipt form, they'll also complete the new One-Time Premium Payment For Use With Conditional Receipt form, which allows for both credit card and EFT payments at time of application.
• Within two days of receiving an application — and the One-Time Premium Payment form — in the home office, The Standard will email the applicant a secure link to pay online with a credit card. The link will expire in 72 hours. Applicants who do not complete the payment process within 72 hours will no longer be eligible for conditional coverage under conditional receipt.
• Agencies will be able to track if an applicant has submitted credit card payment in Policy Inquiry.

Stay tuned for more details. And feel free to reach out to your case manager if you have any questions.

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