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completing_the_pac_form
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completing_the_pac_form [2021/03/10 07:04] bturner |
completing_the_pac_form [2022/08/22 08:12] bturner |
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| Please note only monthly mode premiums are eligible for premium draft. | Please note only monthly mode premiums are eligible for premium draft. | ||
| - | Setting your clients up on a monthly draft for their life insurance premiums is an easy and efficient way to ensure their monthly payments are made timely and consistently. Please utilize this guide to make sure you correctly complete the PAC Authorization Form with your clients. | + | Setting your clients up on a monthly draft for their life insurance premiums is an easy and efficient way to ensure their monthly payments are made timely and consistently. Please utilize this guide to make sure you correctly complete the PAC Authorization Form with your clients. You are not required to complete the PAC form with the a-App but we strongly recommend it and there are multiple options to allow the client full control over when they are drafted. If you complete the form, you must select one option and include all banking and account information. |
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| + | * The amount drafted from your account is the monthly Planned Premium amount listed on the application. | ||
| + | * If the application is approved “other than applied for” and the amount required is more than what you have listed on the application, we will not automatically draft the initial premium. | ||
| + | * The effective date of your policy and monthly draft date will match. | ||
| + | * Below is a grid with brief descriptions and examples to assist you with deciding which is the best option for you. | ||
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| + | **__====Initial Premium Option 1====__** | ||
| + | Draft on approval (most popular option): | ||
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| + | The initial premium payment will be drafted upon F&G’s approval of my application. My coverage will be placed into effect at that time and I will be drafted on that same day each month subsequently. I understand I may not be notified after underwriting approval and prior to the initial premium draft. Please note: the effective date of the policy will be the underwriting approval date; however, some exceptions may apply. | ||
| **__Option 1__**: | **__Option 1__**: | ||
completing_the_pac_form.txt · Last modified: 2022/08/22 08:25 by bturner
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