In our last newsletter, we discussed Life Insurance and the importance of making plans for your loved ones. Having made a decision to secure their future by investing in a life insurance product, it is important for you to ensure that premium payments are made consistently throughout the lifetime of your plan. In the event where this payment is not consistent, there is a risk of the policy going into a “lapsed state” (when the policy holder is no longer under Life Cover due to non-payment of premium regularly).
In this edition, we offer you a variety of payment channels for your convenience. Our Channels include:
- Bank Deposit
Payments can be made into our account details below:
Bank: Guaranty Trust Bank
Account Name: ARM Life Plc Contribution Collection Account
Account no.: 0138427972
If you are paying into the bank, please do the following:
- Request for the ARM Life customised teller (if not available at the branch, use the GTBank teller)
- Complete the Bank deposit slip legibly and ensure that Policy holder’s name and surname are written as the name of the Depositor on the slip (Please inform anyone making a deposit on your behalf).
- Indicate your policy number, (kindly write this in the column specified on the Bank deposit slip for customized tellers, otherwise next to the policy holder’s name)
- Internet Banking Transfer
Please follow the steps below –
- Log into your internet banking page/portal
- Transfer the amount you desire into the appropriate ARM Life contribution bank account
- Include the policy holder’s names and policy number in the remarks portion of the internet banking transfer page.
- Cheque payment
If you are writing a cheque, the cheque should be issued in favour of ARM Life Plc. Write your name, surname and policy number on the back of the cheque.(Please reconfirm that the amount, in figures, match the amount, in words)
- Direct Debits
A direct debit allows you to conveniently make periodic additional payments into your policy without the inconvenience of issuing cheques or visiting the bank. Direct Debit instructions can be stopped or cancelled at any time. To set up a direct debit, you are required to complete this form (Download here if you use other banks) and email to us at [email protected] for processing.
Finally, we implore you not to hand over cash to any representative of ARM Life and do not make payments into any private account that does not carry the ARM Life account details. ARM Life Plc STRICTLY PROHIBITS payment of CASH by existing and prospective clients to any representative of the Company, for any reason whatsoever. All payments to the Company shall be by way of bank drafts issued in the name ARM Life Plc. or by the above payment channels to the Company’s designated Bank Account. The Company shall not be liable for any direct or indirect loss or damage which may arise from failure of the Client to adhere to this directive.
Should you require further enquiries or clarifications on product and services, kindly call us on 0700 CALLARM(070 022 55276) or send an email to [email protected].
The Customer Experience team,
ARM Life Plc.