E-signature to request a cash advance on the group insurance benefits - AG Employee Benefits

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e-signature

Published on 21/12/2018

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Quicker access to a cash advance with e-signature

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​An electronic signature is a simple, user-friendly and, more importantly, reliable way to get consent or approval on electronic documents. From now on, your staff members can use this new technology to request a cash advance on their group insurance benefits.


When a staff member applies for a cash advance to use towards the purchase of a home, a vacation property or to pay off a mortgage loan, the funds often need to be available very quickly.

With e-signature, there is no need to bother with the post office anymore, as all of the required information will have already been collected and incorporated in the deed of sale in one fell swoop.

Added convenience: plan participants no longer need to provide us with a copy of their identity card or Bank Confirmation Letter. By signing with their electronic ID card, the identity of the signatory is authenticated and any risk of fraud is eliminated.

Feedback from plan participants

Based on our statistics, when given the choice between a deed on paper or in digital form, 86% of plan participants prefer the electronic option. Subsequently, we have also noticed that deeds get signed within a shorter timeframe.

How does it work?

It all starts with a platform specially designed to manage signatures on deeds.

This platform sends out e-mails to the different stakeholders in question. Once all parties have signed, they receive an e-mail notifying them that the deed has been executed and can now be downloaded. They can then file their copy for safekeeping, on paper or in digital form.

Did you know?

Effective 1 January 2018, the new variable interest rate applicable to cash advances is 1.25%. In 2019, this rate will remain unchanged.

For more information about cash advances, click here.


Question? Concerns? Need further details? Feel free to contact your regular AG Employee Benefits representative for assistance.