Convenient Payment Methods: How to Pay Your Premiums with Diaspora Insurance

As Diaspora Insurance we pride ourselves in providing specialist and bespoke insurance products to transnational citizens otherwise called Expatriates or Diasporans. Diaspora Insurance is a global company that provides a global service to meet our clients’ needs all over the world.

It is possible to pay premiums from anywhere in the world. As part of treating our customers fairly Diaspora Insurance has different ways that our clients can use to Honour their payments depending on their location. Below is a list of the payment options that we have:

  1. Recurring Card payments

The recurring card payment option is available to Mastercard and Visa card holders. Premiums are deducted from the card monthly, and clients have the option to update their card details upon expiration or having lost their card. In some regions, all bank cards are issued as Master or Visa cards, whilst in other regions, they are issued upon request.

Recurring Card payments are available to anyone who is a cardholder of either a MasterCard or VISA card. With exception of the UK where clients are set up on Direct Debit, the rest of the world can utilise this facility.

  1. Standing Order

Clients can instruct their bank to pay a fixed amount monthly to any of the Diaspora Insurance accounts. Standing orders are a low-risk option as they will be done automatically by the bank. They also reduce the chance of being in arrears due to skipped payments and eventually leading to client policy going into arrears and or lapse.

Standing orders can be done from any country across the globe as long as it is permitted by their regulator as some countries might have restrictions on transfer, especially across the border.

  1. Bank transfer

Clients can do a bank transfer to any of our bank accounts from anywhere in the world. The bank transfer can be made as monthly, quarterly, semi-annually and or yearly payments.

Anyone anywhere around can use this option if they have a banking system which allows making transfers in compliance with the country or region regulations.

  1. Cash Deposits

Clients can request banking details and make direct cash deposits to our bank accounts in various countries.

The option is available to 6 countries and the Euro-Zone Nations.

  1. Direct Debit

Clients in the United Kingdom can set up Direct Debits with Diaspora Insurance to have their monthly premiums deducted from their UK bank accounts.  In the UK a few service providers have Direct Debit guarantees to collect from clients’ accounts.

Policy Number Reference

Please note it is very important to include your policy number as a reference when making a payment. This will make it easy for payment allocations.

Diaspora Insurance Bank Accounts

Diaspora insurance has bank accounts in various regions which can be used to transfer premiums. Banking details are issued upon request by the client due to security reasons. Below are listed countries Diaspora Insurance has accounts in:

  • Australia
  • Euro-Zone Nations
  • United States of America
  • Canada
  • South Africa
  • New Zealand
  • United Kingdom

The list is not limited to the above-mentioned countries. Currently, the above-mentioned regions are the most popular destinations for most diasporans. More options will be made available as we are continually growing globally.

Recently we have seen a growing number of people moving to the Middle East, China, and various Asian Countries. Diaspora Insurance as a global company is looking to diversify into these countries to have ease of payments for clients.

Other Payment options.

  1. Ask a relative or friend to pay for you.

In case the client is not able to make a payment they can always ask a relative or friend to pay for them in any of the countries mentioned above. Clients with relatives in the UK, they can ask their friends or relatives to pay via Direct Debit on their behalf and all they need to do is fill in a direct debit mandate form so that we can deduct it from their account.

  1. Quarterly/Yearly Payments

Diaspora insurance allows clients to make payments on quarterly, semi-annually, and annually payments for their premiums. This will reduce the administration and service fees related to making transfers. And for travelling clients, they can make payment in advance to cater for the time they will be away.

Clients can pay only a maximum of a year. Due to regulation and money control systems in place Diaspora Insurance can not accept premiums of more than one year in advance as it is treated as Money Laundering by various regulators.

Conclusion.

Diaspora Insurance is structured to work for everyone’s needs and requirements. Our focus and remit are to positively impact and change people’s realities through bespoke and global risk management solutions. Our main goal is to provide world-class solutions to Diasporans. Various payment methods will be introduced in various regions as the Diasporans population grow.

team4dfiConvenient Payment Methods: How to Pay Your Premiums with Diaspora Insurance