Clients Need Flexibility – Ensure A Smooth Payment Experience for Your Clients

Does your client need more flexibility when it comes to timing EFT payments? With the flexibility around premium payments, it is important to understand how each choice governs draft dates,
effective date, and commissions.

Here’s the breakdown:

1. Draft Next Available

• Best for customers who need immediate coverage and those who want conditional coverage.
• Once the policy is issued, payment will be deducted from the customer’s bank account the following day.
• If the recurring draft date is not ideal for the customer, they can change their draft date.

2. Choosing a Specific Draft Date

• Best for customers who want conditional coverage and also want to select a specific date for their drafts to occur.

3. Delayed Bank Draft

• Best for customers who want control over the timing of their payment once the policy is issued.
• Initial premium drafts once the agent indicates ok to draft.
• Please note this option does not provide any conditional coverage.
• Requires premium payment from the effective date which may result in multiple payments needed if we are notified to draft after the month of issue.

4. Draft Next Available/Specific Date for Reoccurring Drafts

• Best for customers who need immediate coverage and those who want conditional coverage.
• Once the policy is issued, payment will be deducted from the customer’s bank account the following day.

Click here to access more information regarding premium options and future payment scheduling.