Non-payment of Premium

[jdeasy]

They aren't the only one.

Of course, sometimes it is for good reason. Some are chronic NSFers. I'm sure the companies get tired of the fees.

What other company besides settlers makes the person pay the monthly payment with the additional direct bill fee on it before they will put it back on draft?

 

[goillini52]

What other company besides settlers makes the person pay the monthly payment with the additional direct bill fee on it before they will put it back on draft?

They recently changed that. I remembered reading that they've changed this when I read this thread, so I called them. They'll even let them pay the owed amount over the phone with a credit card.

That was a PITA!

 

[jdeasy]

They recently changed that. I remembered reading that they've changed this when I read this thread, so I called them. They'll even let them pay the owed amount over the phone with a credit card.

That was a PITA!

I didn't know they had changed it. That's good. That needed to go.

 

[onefastpony]

What other company besides settlers makes the person pay the monthly payment with the additional direct bill fee on it before they will put it back on draft?

Standard Life & Casualty

 

[WGO]

This case is Royal Neighbors.

 

[rousemark]

They recently changed that. I remembered reading that they've changed this when I read this thread, so I called them. They'll even let them pay the owed amount over the phone with a credit card.

That was a PITA!

This is the bulletin from October:

Beginning, October 8, 2014, our options for repayment when an automatic bank draft has been returned to us by the bank are as follows:

Payment method #1: Bill payer will contact our Policyholder Services Department at 800-542-8711 and verbally re-authorize our office to redraft the payment and resume the automatic bank drafts on the policy(ies).

Payment method #2: Bill payer will contact our policyholder services department and make the payment using a credit card (VISA or MasterCard only). After making this credit card payment the bill payer may verbally re-authorize our office to return the policy to the automatic bank draft payment method. However, if the reason for the rejection was due to invalid account information, a new authorization with correct account information will be required in order to return to automatic bank draft.

Payment method #3: A Cashier's check or Money order in the amount of $direct rate can be mailed to Settlers Life. This payment must be received by 2 weeks in order to activate the coverage. If this payment method is used, Settlers Life will not resume the monthly automatic bank draft deductions on the account. The policy will remain on direct monthly billing and the new premium rate for the policy will be $direct rate. We will return you to monthly automatic bank draft deductions at the monthly rate of $EFT rate only after a new authorization form is received.


Any authorization to return to bank draft must come from the bill payer. Of course you, as the writing agent, may call with the bill payer on the line to reauthorize. Also note that these options are only available for bill payers who have not had more than two bank returns in a rolling 12-month period.

 

[goillini52]

This is the bulletin from October:

Beginning, October 8, 2014, our options for repayment when an automatic bank draft has been returned to us by the bank are as follows:

Payment method #1: Bill payer will contact our Policyholder Services Department at 800-542-8711 and verbally re-authorize our office to redraft the payment and resume the automatic bank drafts on the policy(ies).

Payment method #2: Bill payer will contact our policyholder services department and make the payment using a credit card (VISA or MasterCard only). After making this credit card payment the bill payer may verbally re-authorize our office to return the policy to the automatic bank draft payment method. However, if the reason for the rejection was due to invalid account information, a new authorization with correct account information will be required in order to return to automatic bank draft.

Payment method #3: A Cashier's check or Money order in the amount of rate can be mailed to Settlers Life. This payment must be received by 2 weeks in order to activate the coverage. If this payment method is used, Settlers Life will not resume the monthly automatic bank draft deductions on the account. The policy will remain on direct monthly billing and the new premium rate for the policy will be rate. We will return you to monthly automatic bank draft deductions at the monthly rate of rate only after a new authorization form is received.


Any authorization to return to bank draft must come from the bill payer. Of course you, as the writing agent, may call with the bill payer on the line to reauthorize. Also note that these options are only available for bill payers who have not had more than two bank returns in a rolling 12-month period.

I was told today that they'll take the credit card payment over the phone as long as they haven't had more than 3 NSF's in a year. I might've heard it wrong.

 

[jdeasy]

This case is Royal Neighbors.

They can handle it by phone.

 

[jlata1]

Dang it. I've had nothing but trouble with trans and drafting on the first debit. I have 2 nsf's on first drafts right now and both say the money was in there. I know one is a screw up with trans as I have another policy and its ok. Dang it I thought I could have trans redraft if I just called them. So how do I handle this on someone who works till 8 o'clock every night and lives far away?

 

[Gooner]

I was told today that they'll take the credit card payment over the phone as long as they haven't had more than 3 NSF's in a year. I might've heard it wrong.

I was told the complete opposite on Friday...she now has an Americo policy.