To simplify your experience, we have developed guidelines around the acceptable forms of money during the New Business process. We accept premium with the application up to a face amount of $1,000,000, in force and applied for, to include the Company and its affiliates.

Under the Conditional Life Receipt, premium should not be accepted if the client:

• Is under 15 days of age or over age 80
• Has been admitted to a hospital or other medical facility, been advised to be admitted, or had surgery performed or recommended within the past 90 days
• Has had treatment recommended or has been treated within the past two years for heart trouble, stroke or cancer
• Has been rated or declined for insurance within the past five years
• Intends to leave the United States within the next 60 days

Important Conditional Life Receipt notes:

• Explain to your client that the Conditional Life Receipt provides limited coverage under specific conditions.
• Ensure the Conditional Life Receipt is fully completed and the applicant’s copy is left with the applicant when money is collected.
• If premium is received with the application and the applicant’s copy of the Conditional Life Receipt is attached, a letter from Protective’s Home Office will be sent to the applicant with their copy enclosed.
• Postdated checks will not be accepted.

Additional information

If premium is received with the application and is outside the above-listed guidelines, or the Conditional Life Receipt is not fully completed:

• We will communicate before the premium is returned, allowing you the opportunity to contact your client.
• We will return the premium to the premium payer.

Please refer to the Acceptable Forms of Money grid for Check Acceptance GuidelinesOpens in a new tab.

If you have any questions, please contact your Protective Life representative.