What is Monthly Self Reporting and why should I choose this payment option over installment billing?

Monthly Self Reporting is a payment plan in which billing is based on actual payrolls instead of estimated installments. This provides several major benefits over an estimated installment billing. The comparison between a standard policy on 9 installments with a 15% down payment and the Monthly Self Reporting installment option is presented below.

With Monthly Self Reporting, your insured is able to improve cash flows by paying their premium based upon their actual payroll figures for each pay period, likely resulting in a true premium payment during the policy period and reducing or eliminating audit discrepancies at policy expiration.

What are the eligibility criteria for the Monthly Self Reporting installment option?

• Accounts Must Generate an Estimated Annual Premium of At Least $5,000
• Account Must Be Eligible With a Monthly Self Reporting Approved Carrier
• The Insured Must Have a Working Email Address
• The Insured Must Report Payrolls Online or by an Approved Electronic File Format

Who is a good candidate for Monthly Self-Reporting?