Billing 3: EFT & Endorsements
RDU TEST
Created on November 6, 2024
Over 30 million people create interactive content in Genially.
Check out what others have designed:
THE MESOZOIC ERA
Presentation
ALL THE THINGS
Presentation
ASTL
Presentation
ENGLISH IRREGULAR VERBS
Presentation
VISUAL COMMUNICATION AND STORYTELLING
Presentation
GROWTH MINDSET
Presentation
BLENDED LEARNING
Presentation
Transcript
Credit Endorsements for payment plan policies on EFT are handled differently than other Pay/Rec billed policies. CURRENT Term Credits - only spread among the unbilled installment(s) and will not affect the outstanding installment, even if it's the renewal. PRIOR Term Credits - WILL be applied to the renewal installment as a lump sum. A new bill is sent, reflecting the decrease in premium. The due date will NOT change.
Pay Plan EFT Policies
REMEMBER: Insured's cannot choose their draft date. The draft date is the due date. Credit Endorsements on Full Pay EFT Policies will be handled just like all other Pay/Rec billed policies.