Does Ohio National offer Electronic Monthly Debit for monthly premium payments?
Yes, we offer Electronic Monthly Debit on a monthly basis only. Form 4030 (Authorization Agreement for Direct Payments) is required to enact this change. Form 4030 is available upon logging into your account. Login and go to Product & Support > Forms to download.
When will the first Electronic Monthly Debit be processed?
It varies based on the type of policy and when the policy actually was issued.
- On newly issued policies, the Electronic Monthly Debit is determined after the initial payment is processed.
- For whole life, term life or disability income insurance policies, the draft begins on the designated Electronic Monthly Debit date within the paid-to month of the policy. The debit date will not necessarily coincide with the policy due date.
- For universal life insurance policies, the starting date is determined by the number of premiums paid initially. In most cases, the debit date must be at least two days prior to the policy processing date.
- If adding to an existing bank account draft, the debit will occur the next debit date for the existing account.
How do I change my Electronic Monthly Debit account from one bank to another?
To make a bank change, we require you to complete Electronic Debit Authorization Agreement (Form 4030) signed by the person who is listed as an authorized signer on the bank account. Form 4030 is available upon logging into your account. Login and go to Product & Support > Forms to download.
To prevent a draft being processed on a closed account please notify Customer Service at 800.366.6654, before 5:00 p.m. ET, at least one business day prior to the draft date for that month. Drafts cannot be stopped on the day they are scheduled to occur.
Can I pay premiums or make purchase payments with a credit card?
The option of paying by credit card is not available at this time.
Can I pay online or by phone?
Yes, premium payments can be made online or over the phone 24 hours a day, 7 days a week.
- Make a web payment at www.constellationinsurance.com (Login and go to Payments).
- Make a phone payment by calling 800.366.6654. Please listen for your product and follow the prompts. Payments made after 4:00 p.m. EST or on Saturday, Sunday, or a national holiday will be processed the next business day.
Can I pay a smaller amount?
If your policy has cash value, it may sometimes be used to reduce your premium. Using cash values to pay premiums will affect the growth of the policy and should be done with discretion.
We recommend you consult with your representative before choosing to do this.
What is the latest date I can make a payment?
All policies have a 31-day grace period after the original due date. Some policies allow for flexible payment options, which should be discussed with a representative.
What does "Grace Period" mean?
Grace period is a period during which a premium payment can be made after the due date while coverage is still in effect.
What does "Late Payment Offer" mean?
Ohio National currently offers a period of premium acceptance on certain policies beyond the grace period. If this offer is received, it affords another 30-day period of premium acceptance. Normally, there is no coverage during the late payment offer period, but the policy may be reinstated without proof of insurability if the proper payment is received by the due date on the late payment offer.