Set up new business payments

Payment and billing requirements for policy applications are managed within Settings > Modules > Agent Portal. Settings allow you to:

  • Specify the payment amount required to accompany an application upon submission.
  • Enable exclusions.
  • Designate the auto-payment authorization form.

If payment is required to accompany submitted applications, then the payment must be an electronic payment (CC or ACH), unless an exclusion is enabled. To accept electronic payment methods, you must integrate with an electronic payment vendor. See Integrations documentation.

To configure payment settings for application submission:

  1. Navigate to Settings > Modules > Agent Portal > Payment.
  2. Under To submit a policy application, the insured must submit:, select one of the following radio buttons: 
    1. No payment: If you select this, no payment will be required upon submission of a policy application.
    2. The first installment of the chosen billing schedule: If you select this, the first installment will be due when a policy application is submitted.
    3. <Rate of term premium> of the term premium plus any initial fees: If you select this, you will need to determine the rate of the term premium that will be charged. Type the rate in decimal form in the box at the beginning of the statement. When a policy application is submitted, the amount due will be the rate of term premium that you determined plus initial fees.
    4. <Fee Amount> flat fee: If you select this, you will need to type the fee amount in the box at the beginning of the statement. The amount you add as the fee will be the amount required at the time of submission.
  3. Under Exclusions:, select any of the following:
    1. Allow manual payment override for initial down payment. (Reason required for submission): When this exclusion is selected, it allows enforcement of a payment with application submission where the payment can be a physical check rather than an electronic payment method. This setting can be used when an agency doesn’t have a sweep account and the insured provides a physical check.
    2. Allow the insured to pay more than the initial downpayment on submission: When this exclusion is selected, it allows the insured to pay more than the required down payment amount. This setting is helpful when the insured requests an installment plan and would like to pay the first two installments, which is often the case with a monthly billing schedule.
    3. Do not require an initial down payment if application is submitted unbound: When this exclusion is selected, it overrides the payment requirement when an application is submitted unbound. Though payment isn’t required, it may still be submitted with the application. However, payment won’t pull with application submission.
    4. Do not require an initial down payment when a policy is mortgagee billed: When this exclusion is selected, it overrides the payment requirement when the initial, rather than recurring, Bill Whom is the mortgagee.
  4. Under Other:, you can add a link to an auto-pay form that the agent or insured can complete if the insured wants to enroll in auto-pay. The form will appear under Authorization Form when you add a credit card or ACH as a payment method on the Billing screen of an application.
  5. When you’re finished adding payment information, select Save.