Agent Guide | Short Term Care
ManhattanLife
Methods of Payment The method of premium payment should be selected on the application with the modal premium written in the designated field. The modal premium does not include the insurance policy fee (if applicable). The available premium payment modes are as follows:
The amount of each modal premium is calculated by multiplying the annual Policy premium by the applicable modal factors. The modal premiums for Your Policy are shown on the Policy Schedule. Premium Payment Mode Modal Factor Semi-Annually 0.52 Quarterly 0.25 Monthly 0.0833
Direct bill* Annual Semiannual Quarterly
Bank Draft Annual Semiannual Quarterly Monthly
**ManhattanLife 2.0 defaults to Monthly.**
Bank Draft Pay initial and renewal premiums by bank draft. A completed Bank Draft Authorization form must accompany the application and be filled out in its entirety. Direct Bill Acceptable forms of payment: • Personal checks • Electronic bill pay (from applicant) The Following Forms of Payment are NOT Accepted: • Temporary checks • Employer-paid health coverage for current employees • Business check from a business not owned by the applicant or spouse • Third party checks Claims Restoration of Benefits ManhattanLife is administering this benefit as outlined below. • After receiving facility care or home health care benefits, if the insured has not received any benefits for 180 days, we will restore their benefit period to its original benefit period. • This restoration of benefits is regardless of whether or not the insured has used their entire benefit period. • The insured would still be subject to the lifetime maximum benefit period outlined in the policy.
AGT-STC 0525
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