Hartford Financial to Pay Insureds' Claims With Plastic.The Hartford Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Group is now offering its claim settlements in the form of a claim card instead of a check. The card, issued by Visa, will be programmed with a designated dollar amount and is similar to a prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. . Named the Hartford Insurance Claim card, it can be used at more than 19 million locations that accept Visa, such as retailers, automated teller machines automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. and banks. The card is being rolled out in 25 states and will be available nationwide later this year. In the future, Hartford expects claims adjusters to issue the cards on the spot and policyholders to receive a card at policy inception or renewal. Insureds can check on the balance remaining on the card by calling a customer service number or at almost any ATM. If there is a supplemental payment due on the claim, Hartford can add funds to the card. |
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