6 Ways to Prevent Cancellation
ClassicPlan strives to work with the producer to prevent cancellation of
their insureds' policies whenever possible. We have 6 key ways to prevent
cancellation and we hope that you and your insureds will take
advantage of them.
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CANCELLATION DELAY-"EXTENSION"
If you or your insured calls us on or before the
cancellation effective date, we will delay the mailing of the Notice of
Cancellation to the carrier(s). As there are a limited number of calendar days
between the cancellation effective date and the date we are required to mail
the Notice of Cancellation to carriers, you should ask the Customer Service
Representative when the Notice is scheduled to be mailed. If the delinquent
payment is not received by the day before scheduled mailing of
the Notice, it will result in policy cancellation. We are unable to do an
"extension" if delinquency is caused by a check being returned by a bank.
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PAY BY PHONE
If your insured calls our Customer Service Department and states that they
would like to do a Pay by Phone, our representative will take their checking
account information over the phone and process the payment for their loan as if
we had received the payment in the mail. There is an $8.00 charge to the
borrower for this service and we must receive the call during normal business
hours.
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WESTERN UNION "QUICK COLLECT"
A borrower may go into any Western Union office in the U.S. with their monthly
payment and their ClassicPlan loan information (coupon, late notice, etc.) and,
after payment, a Western Union check prints in our office, usually within 60
minutes. If such a check is printed before 4:00 p.m. on normal business days,
it will be applied to the customer's account the same day. This
service is especially useful if the customer is out of the area.
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PRODUCER "PAYMENT GUARANTEE" (CHECK)
Please contact us or your Marketing
Representative for more information on this service.
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PRODUCER PAYMENT GUARANTEE (ELECTRONIC)
Please contact us or your Marketing
Representative for more information on this service.
That is 6 ways to prevent cancellation of an account.
Contact us or your Marketing Representative for more information.
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