Warwick, RI – The Beacon Mutual Insurance Company recently announced a new payment option for eligible policyholders to pay premiums in a more simplified, automated process.
The Beacon Pay As You Go program enables policyholders to pay workers’ compensation premium based on real time payroll data as each pay cycle is processed – either through a payroll company or the policyholder’s own records. Beacon Pay As You Go uploads data instantly and the premium for each applicable period is calculated and automatically withdrawn from the policyholder’s bank account.
“We are pleased to add another convenient payment choice for our policyholders,” said Beacon Mutual President & CEO James V. Rosati. “We are continually looking for opportunities to improve the ease of doing business with Beacon and create value for our policyholders. This new option will allow policyholders to maximize monthly cash flow, minimize the likelihood of year-end premium audit adjustments and eliminate large upfront premium fees.”
Beacon policyholders in good financial standing can begin taking advantage of this new program at the time of policy renewal. The program is also available to new business at the inception of their first Beacon policy. Enrollees will have no more checks to write, no due dates to remember and no installment fees.
Source: Beacon Mutual