Common Remitter Service is an installment administration whereby wire transfer or check is sent by business organization or association to a shared fund or insurance agency and it is automatically distributed to account of each participant employee.
Viably, for organizations, associations, agencies and groups using a Common Remitter Service for the insurance product payments, wire transfer or one check is sent from the organization to participant account(s) and is allocated automatically to every member account at the different insurance agencies.
It is simple, quick, and effective in eliminating the all possible hassles that are related to the administration of employee benefits and it opens up an unlimited series of product selection for your association and employees.
Through an electronic remitter system, participants have immediate access through a secured server to present and past remittance history online any time, making reconciliation efficient, simple and smooth.
A Common Remitter Service is accessible for individuals and small to large organizations, agencies and associations.
If needed, currently offered plans and product choices can be maintained on this online platform. Moreover, one has the choices and flexibilities to include the virtually any other insurance item that is wished to make accessible for employees.
These multi-carrier items may be employer funded group products or voluntary wage reduction individual products that include low cost insurance, vision insurance, life insurance, mortgage insurance, health insurance, dental insurance, annuities, disability insurance, long term insurance and so on.
Provided that the technology within this platform, virtually any service or product that has a periodic or systematic group or voluntary contribution can be included into the system.
System can be tailored and organized to address interests and criteria of different types of platform participants and it is inherently programmed in a way to participants who can choose the most appropriate product(s) that suits them.
Both organization and individual platform members can now join a few features inside their association or individual records which are more than likely to be available at present.
Certain chosen insurance items may have the least participation requirements and not all items are essentially accessible for residents of all countries.
At the point when, as and if outside and independent third Party Administration, it is required for systematic and periodic commitments, you can utilize your own vendor or a cost effective vendor can be suggested. All advantages are held specifically at your selected annuity organization, insurance agency or your custodian you prefer.