Tuesday, September 19, 2017
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When insurance payments are automatically deducted

If you have an insurance product like Accidental Death and Dismemberment, Auto/Home/Life or Identity Recovery, remember that these items are paid either on a monthly or quarterly basis.These are also deducted from your account automatically.

Regardless of which account you have these payments set up to be paid from, it’s important to keep these accounts properly funded. If it’s time for your insurance to be paid and the funds are not available in your account, the insurance will not get paid. Depending on the insurance company, a lapse in payment could result in a loss of coverage.

There are several ways to make sure your account is funded properly for your insurance payments.

A) Increase your direct deposit.

B) If you have another account with HealthNet Federal Credit
Union that carries a higher balance: Sign up for Online/
Mobile Banking so that you can easily make a transfer
when needed.

C) Set a reminder on your electronic calendar, i.e. cell phone,
for a few days before your payment is deducted so that you
can make a deposit. No matter how you choose to fund the
account, the important thing is to keep it funded.

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