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1. As a Marsh Producer, Why should I be interested in learning about this new program?
The AIG Bill Pay Plan (sometimes referred to as the “Plan” herein) is one of the largest new premium and commission opportunities to come along in a long time for P&C producers. The U.S. market is untouched. The annual premium market for this new program is literally in the $billions. As a Marsh producer you are among the first to bring this innovative new product to the utility and telecommunications industries including wireless, broadband/internet, cable, and streaming media industries (sometimes referred to herein as “Utility” or “Utilities”). Click here to see various versions of the Bill Pay Plan: Wireless Bill Pay Plan, Utility Bill Pay Plan, and Cable Bill Pay Plan.
2. What is the Bill Pay Plan? How are premiums billed and collected? What is a Sponsor? What are the Customer Eligibility Requirements?
When an insured customer becomes involuntarily unemployed, disabled or dies by accidental means, the Bill Pay Plan pays that customer’s monthly utility bill directly to the sponsoring Utility in an amount up to $500 for up to 6 months during each customer’s insurance certificate year. An eligible customer of a Utility that is sponsoring the Bill Pay Plan for its residential customers can become insured through a voluntary enrollment process. The Utility will include the premium of the Bill Pay Plan premium on the monthly utility bill of its enrolled customers, collect the premium and remit premiums to AIG.
Customers that are full-time employed between the ages of 18 and 65 and up-to-date with the payment of their utility bill are eligible to enroll; eligible spouse coverage is available. The Bill Pay Plan is affordable and the benefits are paid even though insured customers are receiving benefits from unemployment insurance, government or private disability insurance or any other plans/insurances.
3. Where is the Utility Bill Plan Available?
The program is presently filed in the eight states named in the attached AIG Bill Pay Plan brochure. However, if there’s an opportunity brought to your attention in another state let us know, as AIG is prepared to discuss filing the Plan in other states.
4. Bill Pay Plan FAQ
The FAQ of the Bill Pay Plan goes into greater detail about the coverage, terms and conditions of the Plan. It will answer many of the more detailed questions you may have about the program. To review the FAQ, click here: FAQ
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