Payment Plans

Merchants provides a variety of payment plans depending on your needs and type of policy, including a one-time payment or a variety of payment options spread throughout the year.

Merchants offers a variety of payment plans depending on the type of policy you have such as:

Annual Plan

One payment, paid in full at the time of policy inception.

Two Pay Plan - 60% deposit

60% deposit.  The 40% balance is due 60 days from the policy effective date.

Three Pay Plan - 40% deposit

40% deposit.  The second payment of 30% is due 90 days from the policy effective date and the final payment of 30% is due 90 days after that.

Quarterly Pay Plan – 25% deposit

25% deposit. The balance is divided into three equal installments billed at 90 day intervals.

Ten Pay Plan – 20% deposit

20% deposit. The balance is divided into nine equal installments.

Twelve Pay Plan – 8.33% deposit

8.33% deposit. The balance is divided into eleven equal installments.  This payment plan is only available for policies enrolled in our Electronic Funds Delivery (EFT) payment option.

MIGPay®

Merchants’ Workers’ Compensation pay-as-you-go billing and payment program.

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