Life Insurers Could Pay Death Benefits Through Virtual Credit Cards
September 14, 2021 by Allison Bell
Life insurers could soon be paying more claims through virtual payment cards.
Traditionally, many life insurers have been so conservative that they have resisted accepting payments made through credit cards or debit cards, let alone pushing cash into cards.
But One Inc., a Folsom, California-based insurance payment company founded in 2006, recently formed a relationship with Mastercard, a Purchase, New York-based payment card giant.