Payment Plans

Missouri Employers Mutual Insurance offers several payment plans to suit your needs.

Premium

Payment Plan Options

Less than $1,000

Annual prepaid

 

$1,000–$1,500

Annual prepaid

Two installment

$1,501-$3,500

Annual prepaid
Four installment

Two installment
Six installment

$3,501-$10,000

Annual prepaid
Four installment
Quarterly reporting

Two installment
Six installment

$10,001 or more

Annual prepaid
Four installment
Eight installment
Quarterly reporting

Two installment
Six installment
Nine installment
Monthly reporting

Automatic EFT

Annual prepaid
Four installment
Eight installment
Twelve installment

Two installment
Six installment
Nine installment

Down payments and deposits:

  • Two-installment option requires a 50 percent down payment with the balance due in 60 days.
  • Four-installment option requires a  25 percent down payment with billings every 60 days.
  • All other installment options require a 15 or 25 percent down payment with billings every 30 days.
  • Quarterly reporting requires a 50 percent deposit.*
  • Monthly reporting requires a 15 or 25 percent deposit.*

*Reporting payment plan options require online payroll reporting.

In all cases, the deposit will be transferred to the new policy term at renewal. If the policy is changing from monthly or quarterly reporting to annual prepaid or installments, the deposit will be transferred to the down payment at renewal. There is a $5 service charge per installment. This does not apply to policies enrolled in Automatic Electronic Funds Transfer (EFT).

To enroll in the Automatic EFT payment option, please complete the Auto EFT Enrollment Form. For more information, contact our Customer Service Department at custsrv@mem-ins.com or 1.800.442.0593.

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Questions? Call toll free: 1.800.442.0593