Q. When will the first premium come out of my check?
A. If you select payroll deduction to pay your premiums, the deduction for the third month will occur sometime during your second month of coverage, depending upon the carrier. This is because it usually takes payroll deduction payments a month to reach us.
Q. When is premium due?
A. We require payment in advance, so your payment must be received in the Home Office by the last business day of this month for next month’s premium. For example, we must have your May payment in hand no later than April 30 or the last business day of April.
Q. What if I am late or my automatic check or credit card is rejected?
A. You have a ten-day grace period to bring your account up to date. We will notify you by mail if your account with us is delinquent. After ten days, your policy will not be in force and you would not be eligible for benefits if you are held out of service. After 30 days your Accidental Death coverage will also lapse.
Q. Are there discounts available?
A. Yes. We give a 5% discount for semi-annual payments, and a 15% discount for annual payments. In order to receive the discount, we must receive the entire amount in advance.
Q. Do I still get these discounts if I pay in advance by credit card?
Q. How far in advance can I pay?
A. You can pay in advance for a year.
Q. What credit cards does LECMPA accept?
A. VISA, MasterCard, Discover or American Express.
Q. Will I get reminders to pay my premiums?
A. LECMPA issues reminders/notices to anyone who pays annually or semi-annually. You will receive a payment reminder in the mail about a month before your next payment is due. However, we do not send payment reminders or statements for any monthly payment method, whether payroll deduction, check, credit card or automatic payment. You are required to make regular monthly payments. If you are late, you will receive a delinquent notice from the Home Office, and you will have ten days to bring your payment current, and prevent lapse of your coverage.