E-Pay Insurance Assignment: The Modern Way to Process Claims
November 11, 2019
Processing life insurance assignments as funeral payment is now easier than ever with our entirely electronic claim process.
Say HELLO to E-Pay Insurance Assignment! With Insurance Assignment, you can enter numerous policies directly from a case using the data you’ve already entered for the deceased, family, and invoice, reducing paperwork and double data entry.
Even better? You can generate pre-filled forms, upload documents, review and manage all cases under one convenient report, and collect policy proceeds as little as 24 hours after submitting required documents. Yep, you read that right! Put more time and money back into your funeral home, and take the stress off the families you serve in the process.
The Numbers Don’t Lie!
It takes 2 minutes to submit a claim.
Our team can verify a policy in 1 hour.
Most claims are paid out, on average, 24 hours after receiving a signed assignment.
Group life insurance policies, including FEGLI, payout in as little as 48 hours.
The average amount funded is $7,000.
50% of families will request an assignment for more than the funeral bill to help with other expenses.
2-Minute Insurance Assignments
To process a claim, start by choosing an insurance company from the list provided. A total for all case invoices and the requested amount is populated, but you can modify the requested net amount to be more than the amount due…or even up to the whole policy value! Our software even calculates the family’s fee and populates the final assignment amount on ALL the necessary forms. Does it get any easier than that?
Submitting the claim is the easiest part! The required documents generate and auto-populate with the case information and policy details that you already filled in. It’s just a matter of downloading the document, having it signed and notarized, and reuploading it. Done. We take care of the rest using a power of attorney and work directly with the insurance company to quickly process your claim.
Monitor Claim Progress
Don’t worry, it’s simple to check the claim progress and see where all your claims are in the process. All submissions and statuses are conveniently located in Reports. Here, you can see each individual claim at a glance and know exactly what we’re doing with it. Plus, you can call and talk to any of our highly communicative and approachable team members if you have questions about a claim. Just one more way we’re creating a seamless claim process for your staff and families.
Ready to stop re-entering data and waiting weeks, even months, to receive policy proceeds? Visit our website’s support page or call SRS at 800.797.4861 to enroll in E-Pay and start using Insurance Assignment today!