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Payment Options in DIGicon

See a full breakdown of fields listed in the Payment Options section of DIGicon.

payment options section in digicon

Please note that payment options will vary depending on the Product, Age, Goods and Services, and Health Questions.

 

Payment Options fields in DIGicon:

  • Hold for Processing until - If you want a contract to be processed at a later date, indicate the preferred date here.
    NOTE: Cannot be used for Credit Card payments. Those must be ran on the date they are entered. 

  • Funding Status - Shows the portion of the quoted goods and services to be funded via the insurance application.

  • Payment Plan - Choose which term will be applied to the contract payment. Changing the payment plan will also affect the rate table.
    NOTE: Plan types are subject to your Product. Contact your sales manager or customer ambassador if you have questions. You can edit/remove these options under Tools > User Preferences > Payment Options.

    • Single Pay - The entire contract amount is due today.

    • Multi-pay - Applicant pays the contract out over time and can be covered either immediately (if qualified) or after a set period of time.

    • Dollar for Dollar - Applicant pays overtime (typically a lower amount than Multi-pay), but can only receive funds for the amount paid up to that point.

    • Flex Pay - If the applicant wants to make payments but doesn't know how much they can pay each month due to finances.
      NOTE: There are NO commissions on Flex Pay contracts.

  • Down Pymt - If the applicant wants to pay a specific amount towards the contract, enter the amount here. If not, a down payment will be added when you select a premium from the rate table (see the Payment Options tab below).
    NOTE: Down payments must be equal to or greater than the premium amount.

  • Premium - This field will auto-fill with whichever option you select in the Premium Payment rate table.

  • OTG Pymt Plan - If On-the-Go is being sold, the applicant can choose to pay the total amount in 1 payment (Single Pay) or over 12 monthly payments (12 months). 
    NOTE: Only available if the agent is enrolled to sell Sepio Guard travel protection. Payment must be separate from the preneed payment. For question regarding Sepio Guard payments, call 877-625-2726.

  • Payment Options (tab) - Choose the contract payment term from the rate table by clicking on the premium rate in the grid. This is used for Multi-pay, Dollar for Dollar, and Flex Pay options. 
    NOTE: Not all payment options are available to all agents. Ask your Sales Manager if you have any questions about a plan not being offered.

  • Interest Inflation Calculation (tab) - Use this tool to give the customer a visual of what services could cost if they did not pre-plan today.

  • Existing Policies (tab) - If the customer has another policy (with FDL, Globe Life, Met Life, etc...) and wants to use it to pay for this one, add the previous policy here.
    NOTE: You will need to set up a 1035-Exchange (not available in Texas). Wisconsin requires existing policies to be disclosed, even if they are not being used to fund the current preneed. 

  • Down Payment Info (tab) - Enter the payment information for the Down Payment (Cash with App). If writing a Single Pay contract, this tab will say Single Payment Info.

  • Premium Payment Info (tab) - Enter the payment information for recurring payments. The Start Date is the day the first payment will be drafted.
    NOTE: The policy will not be active until the first payment has been applied to the contract. A down payment is considered the first month payment. 

If the family wants to see "what this plan would cost" or would like a print-out, simply click the Generate a Price Quote button to create a quick cost estimate.

arrow pointing to the "generate a price quote" button

 

 

Explore other DIGicon sections:

 

 

If you have any questions or concerns, please contact the Help Center at (800) 692-5125 or email help@funeraldirectorslife.com.