Timely Commission Payments…

Use the three tips below to ensure accurate premium payments for timely commission payments.

1. Electronic Funds Transfers (EFT) Authorization form (form 1707): complete the form accurately and completely. Missing or inaccurate information will delay premium payments.
   • Submit each policy in its own form one at a time.
   • Multiple policies on the form can cause confusion and result in questions or mistakes.
2. Dates matter: if the customer requests a specific initial draft date which is in the past, or the requested draft date passes while the policy is in the new business process, then the initial premium will draft on the specified date in the next month.
   • To avoid this – select the draft next available for the initial premium.
     > E.g. Customer selects 15th for initial draft. Case is issued on 1/20 with an effective date of 2/15 and the initial premium will be scheduled for 2/15. This would delay your commission payment until after 2/15.
3. Portal messages: for changes or updates to initial premium payments, send messages to the Payment Team by selecting “Payment Changes”. Replying to the most recent message thread will cause a delay as the message will not automatically be routed to the Payment Team.
   • For New Business payments, message the Payment Team in the Portal by selecting “Payment Changes”.