Paper
Application: To enroll a new policy in Automatic EZpay, the
agent will print and complete an Automatic EZpay Enrollment along
with a voided check from the policyholder.
Renewals: Current policyholders can enroll at renewal up
until the policy effective date on our website at
www.psmic.com. The paper
application outlined above may be submitted by the agent on behalf
of the policyholder provided the eligibility requirements are met.
Once I am
enrolled in Automatic EZpay, how long will it be before the first
payment is taken out of my funding account and what are the billing
intervals?
A:
For new policies; once the policy is issued by
Pioneer and the required down payment is applied to the policy, a
billing schedule will be generated and mailed to the policyholder as
illustrated in Exhibit A.
For renewals; an EFT payment schedule will be generated and mailed
to the policyholder as illustrated in Exhibit A.
BILLING OPTIONS
FLEXIBLE DUE DATE OPTION
DOWN PAYMENT% REQUIRED
ENROLLMENT AT NEW BUSINESS
ENROLLMENT AT RENEWAL
12 MONTH EFT
TWO PAY
Non-flexible due date
50% down
Next EFT payment due six months from policy effective date.
2
equal EFT payments due in six month increments. First EFT
payment due on policy effective date, next EFT payment due
six months from policy effective date. No flexible due date
option available on this bill plan.
12 MONTH EFT
FOUR PAY
Non-flexible due date
25% down
3
equal EFT payments, remaining EFT payment due in three month
increments based on the policy effective date.
4
equal EFT payments due in three month increments. First EFT
payment due on policy effective date, remaining EFT payments
due in three month increments based on the policy effective
date. No flexible due date option available on this bill
plan.
12 MONTH EFT MONTHLY
Non-flexible due date
18% down
10 equal EFT payments, first EFT payment due two months from
policy effective date. Remaining EFT payments due in
monthly increments based on the policy effective date.
CONTINUE EFT AT RENEWAL -
12 equal EFT payments due in monthly increments. First
EFT payment due on policy effective date, remaining EFT
payments due in monthly increments based on policy effective
date.
12 equal EFT payments, due in monthly increments based on
policy effective date.
12 MONTH EFT MONTHLY
Flexible due date 1 – 28. Due day DOES NOT equal policy
effective day
18% down
10 equal EFT payments, first EFT payment due the next month
that the flexible due date is available. The remaining EFT
payments due in monthly increments on the flexible due date.
CONTINUE EFT AT RENEWAL – 12 equal EFT payments due
in monthly increments. First EFT payment due on the flexible
due date (prior to renewal), remaining EFT payments due in
monthly increments based on policy flexible due date.
If the flexible due date chosen is equal to
or greater than today’s date:
12 equal EFT payments. The first EFT payment will be due on
the policy flexible due date (prior to renewal). 11
remaining EFT payments due in monthly increments based on
the flexible due date.
If the flexible due date chosen is less than
today’s date:
11 equal EFT payments. The first EFT payment will be due on
the policy effective date and will equal 2 payment amounts.
10 remaining EFT payments due in monthly increments on the
flexible due date.
6
MONTH EFT TWO PAY
Non-flexible due date
50% down
Next EFT payment due three months from policy effective
date.
2
equal EFT payments due in three month increments. First EFT
payment due on policy effective date, next EFT payment due
three months from policy effective date. No flexible due
date option available on this bill plan.
6
MONTH
EFT THREE PAY
Non-flexible due date
34% down
2
equal EFT payments, remaining EFT payments due in two month
increments based on the policy effective date.
3
equal EFT payments due in two month increments. First EFT
payment due on policy effective date, remaining EFT payments
due in two month increments based on the policy effective
date. No flexible due date option is available on this
plan.
6
MONTH
EFT MONTHLY
Non-flexible due date
34% down
4
equal EFT payments, first EFT payment due two months from
policy effective date. Remaining EFT payments due in
monthly increments based on the policy effective date.
CONTINUE EFT AT RENEWAL - 6 equal EFT payments, due in
monthly increments. First EFT payment due on policy
effective date, remaining EFT payments due in monthly
increments based on policy effective date.
6
equal EFT payments, due in monthly increments based on the
policy effective date.
6
MONTH
EFT MONTHLY
Flexible due day 1 – 28. Due day DOES NOT equal policy
effective day
34% down
4
equal EFT payments, first EFT payment due the next month
that the flexible due date is available. The remaining EFT
payments due in monthly increments on the flexible due
date.
CONTINUE EFT AT RENEWAL - 6 equal EFT payments
due in monthly increments. First EFT payment due on the
flexible due date (prior to renewal), remaining EFT payments
due in monthly increments based on policy flexible due
date.
If the flexible due date chosen is equal to
or greater than today’s
date:
6 equal EFT payments. The first EFT payment will be due on
the policy flexible due date (prior to renewal). The 5
remaining EFT payments due in monthly increments based on
the flexible due date.
If the flexible due date is less thantoday’s date:
5 equal EFT payments The first EFT payment will be due on
the policy effective date and will equal 2 payment amounts.
The 4 remaining EFT payments due in monthly increments on
the flexible due date.
Premium Changes on all EFT Bill Plans:
When there is a premium bearing change, a revised EFT
payment schedule will be mailed to the policy holder with
the revised policy declaration. The amount of the premium
change will be divided among the remaining EFT payments.
However, if the next scheduled EFT payment is due within 15
days, the EFT payment amount will be unchanged and the
remaining EFT payments will be recalculated.
Can I
choose the due date of the withdrawal on any of the available
billing options?
A:
Policyholders can pick the day of the month they would like the
payment withdrawn which is available on the monthly billing options.
Flexible due date options are any day 1-28.
What can
I do if I do not have enough money in my account to cover the next
scheduled payment amount?
A:
By
selecting the ‘Manage Automatic Payments’ button on the Customer
information screen you have the following options to choose from:
Cancelling a scheduled payment
can be done if the next payment date is within 15 days of
today’s date. This action will only cancel the automatic
payment withdrawal for your current billing cycle. Please
note that although Pioneer State Mutual will not
automatically debit your account, you are still obligated to
satisfy this payment. The automatic payment amount due must
be paid in full by an ALTERNATE PAYMENT METHOD and received
by Pioneer State Mutual’s Home Office by the payment date.
Failure to make the payment will initiate the cancellation
process.
Set up a different funding
account for withdrawal of your automatic payment. This
option will allow you to add, delete or modify a funding
account.
What will
happen if I do not have enough money in my account to cover the
scheduled payment amount?
A:
Notification of non-sufficient funds (NSF) will immediately start
the cancellation process for non-payment of premium. A legal notice
will be generated and mailed to the policyholder notifying them of
the NSF. The legal notice also notifies the policyholder that the
current amount due must be paid in full by the extended due date, by
an alternate payment method. A $20.00 NSF fee along with a $10.00
service fee will be charged.
What will happen if I encounter more than one NSF?
A:
A SECOND notice of non-sufficient funds
(NSF) will result in immediate cancellation of policy. A “Notice of
Policy Cancellation to Insured” will be generated and mailed along
with a cancel bill or refund if applicable.
By
selecting the ‘Manage Automatic Payments’ button within the
Automatic EZpay website, Automatic EZpay will take the policyholder
through a step by step process for changing their funding account
information.
Once I am
enrolled in Automatic EZpay, how do I De-Enroll?
A:
A policyholder may de-enroll
their policy from Automatic EZpay at any time by accessing
their policy on-line. Different messages and instructions
will be displayed depending on when the next scheduled
payment is due and the status of their policy.
Paper de-enrollment forms will
also be accepted from the agent’s office.
