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AUTO PAY - Electronic Funds Transfer - EFT

Hot Tips from your Agents, Annie & Paco!


AUTO PAY - Electronic Funds Transfer - EFT


For over 37 years, we’ve been helping our community with their health & life insurance. In this time, we’ve pretty much seen it all, so that is why we strongly recommend people set up automatic billing from their bank account to pay their health & life insurance premiums. We want to keep you safe & make sure your insurance continues to protect you & yours without any interruptions. 


Here's why...


Paper Bills may not be the best...

We’ve had clients lose their insurance because they forgot to pay their paper bill. You could be traveling, you could have a stroke, your cognitive abilities could decline, you could just plumb forget; life gets crazy & it happens to the best of us! 


Credit Cards can cause issues...

We know that points and cash back are nice, but credit cards get lost, stolen or expire. Don’t lose your insurance because your credit card expires or gets lost etc... We see it happen all too often


Protect Yourself

Do not expect your insurance company to look out for you if your payment doesn’t go through. They may not contact you if your premium doesn’t go through or you may miss their communications. There may be a grace period but it might be very short & by the time you realize it, your policy could be lapsed. 


Here’s What We’ve Found to be Best Practices

We recommend setting up Electronic Funds Transfer or EFT from your bank account. If you change your bank at any time, be sure to update your new bank information with your insurance company ASAP. 


★ It’s a good idea to keep an eye on your monthly bank statements & make sure your insurance premiums are coming out. The last thing you want is to lose your health or life insurance. If you cancelled an old policy, check to see if your old insurance drafts were in fact ended!  


Thanks for listening!         We care about you.






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Copyright 2020, AAA Advanced Benefits - Independent Insurance agents - Not affiliated with the U.S. Government or Federal Medicare Program

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