Preauthorized Check Plan
Plan for the automatic payment of premiums due through drafting by the insurer of the policyowner's preauthorized bank account. Usually, the insurer drafts this account on a monthly basis for the premium payment owed. Studies show that persistency is highest when premium payments are made through bank draft plans.
Popular Insurance Terms
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Plan for the automatic payment of premiums due through drafting by the insurer of the policyowner's preauthorized bank account. Usually, the insurer drafts this account on a monthly basis ...
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