First Acceptance Auto Insurance Phne Number

How Mobile Deposit Capture Is Expanding with Large And Small Banks Alike

On the large financial-institution end, there’s JPMorgan Chase & Co. with $2.25 trillion in assets and one of the first big banks to enable customers to snap pictures of the front and back of a check with their smart phone and then upload the images for deposit through their online-banking application. Chase announced on Thursday that it would start a pilot program in October offering mobile capture to insurance agents, wholesale food vendors, and other distributors, and non-profits. The service will enable those organizations to accept checks from customers and donors and deposit them using Chase’s mobile-capture app for smart phones rather than having to go to a branch, according to Chris Chaten, vice president of product management. Chaten announced the expansion Thursday at the RDC Summit conference in Orlando, Fla., sponsored by RemoteDepositCapture.com, an information service and portal for the remote capture industry. Chase first introduced its Image Deposit Direct service for businesses in 2006 and in 2008 rolled out its desktop remote deposit service, Chase QuickDeposit, for small businesses. In July 2010 the New York City-based bank introduced Chase QuickDeposit Mobile service for consumers, including wealthy individuals, and small business. The service runs on Apple Inc.’s iOS operating system and Google Inc.’s Android platform for mobile devices. Chaten wouldn’t reveal how many customers use the service or much in deposits it has taken in. He did say, however, that after overcoming some operational issues along the way, such as poor image quality and learning how to manage risk, the customer response “has been overwhelmingly positive.” Prominent technology writer David Pogue of The New York Times called QuickDeposit the “best technology idea” of 2010, and the service this year won two Webby Awards from the International Academy of Digital Arts and Sciences.

Graded Benefit Whole Life Insurance

Graded benefit whole life insurance is a form of guaranteed acceptance life insurance. Graded benefit life insurance is available to individuals who are unable to get standard whole or term life insurance due to age, chronic illness, or pre-existing conditions. Many life insurance companies do not offer this type of life insurance coverage to consumers under the age of 50. Consumers and policy applicants in good health and under 65 years of age may find cheap life insurance rates with standard carriers since graded benefit whole life insurance policies cost about double the amount of standard whole life policies.

Consumers who have been denied life insurance policies due to age or chronic health conditions like insulin dependent diabetes, cancer or heart disease are the best candidates to get whole life insurance quotes. These types of whole life policies have limited benefits during the first two years after acceptance, so they are best for adults, parents, and seniors who are likely to live for more than two years after buying the policy. In the first two or three years, graded benefit life insurance usually does not pay the face value death benefit, but will refund the premiums paid into the policy with interest.

A selling point of graded benefit whole life insurance is that the premiums are guaranteed to remain the same. In truth, standard whole and term life insurance have fixed premiums which do not increase over time. The death benefit is guaranteed after the second year of the policy and the whole life policy builds a cash value which can be used to secure low interest loans. However, the whole life insurance cash value is unlikely to be significant for the first 5 years so those applicants who prematurely die before that time may realize no benefits from the cash value or whole life insurance as an investment.

Before considering graded benefit whole life insurance, it is important for consumers to compare whole life insurance pros and cons with other types of life insurance, such as term, universal, or variable life insurance policy. Unlike graded benefit whole life insurance, guaranteed acceptance term life does not build cash value. Most of these policies also have restrictions on the death benefit for two years after the policy is issued and the interest paid on the premiums may be less than that of graded benefit whole life.

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