What is the EFT program? The EFT Program (Electronic Funds
Transfer) allows for the automatic withdrawal of funds from your financial
institution and depositing them directly to our bank to pay for your insurance
premiums. Payments can be withdrawn on the due date of your current 3, 6
or 12 month term policy or they can be withdrawn in monthly installments
on a 6 month auto term policy or a 12 month property term policy. This monthly feature is explained on the
EFT Form in the Policyholder Access section of our website (Registered
Users Log
In Now). Monthly payments are only
accepted under the EFT Program and not under the normal direct bill
process.
View
Guidelines and Form Return to
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Why are monthly installments withdrawn a month in advance of the
coverage date? If any problems arise in the collection of your premiums, the advanced
funds will allow your policy to remain inforce while the problem is worked
on. Return to
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Why am I charged $1 for each withdrawal? Our bank charges a transaction fee for each withdrawal. We also incur
additional processing fees to handle problem situations. Rather than
increasing the premiums for everyone we have elected to charge only those
who utilize the EFT Program. By having funds for all policies withdrawn
on the same date you are only charged one processing fee. Return to
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Can I have my withdrawal on any day of the month under the monthly
installment program? Yes. Return to
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