Billing 2 Flashcards
Direct mail, how does it work?
A bill is sent each month. Third party (mortgagee) paid policies are always assigned the Direct Mail payment method even if the third party receives bills electronically via EDI
Easy Pay Plan
Automatic withdrawals from a checking or savings account with only one bill sent per renewal period unless there is activity that changes the payment schedule and/or payment amount
Recurring Credit Card
Automatic charges to a credit card with only one bill sent per renewal period unless there is activity that changes the payment schedule and/or payment amount
Payroll Deduction
Available only to employees with deductions taken from the employee’s paycheck by HR based on their compensation schedule and only one bill sent per renewal period, unless there is activity that changes the payment amount
Milewise Credit Card
Automatic charges to a credit card when the established milewise ledger falls below the required threshold. No bills are issued for Milewise policies and they do not have a set billing cycle/schedule
Down Payment
New business customers will typically be required to make a down payment when the policy is written
Available down payment options
cash, check or money order, electronic check, credit or debit card
What are payment options?
My Account, the Allstate mobile app, chat, IVR, calling a call center representative, or by speaking with an agent
Minimum payment amount for payments by credit/debit
10 dollars
What happens when a customer makes a payment that is less than the minimum amount due?
Messages advising payment is less than the required amount are generated in different channels, depending on the policy status, when a payment for less than the minimum amount due is entered into the system
Benefits of easy pay plan
-no more checks to write out and mail
-no postage and monthly installment may be reduced
choose the day you want to pay
-don’t have to worry about payments being late or lost in the mail
-make changes to your easy pay plan info. before 5pm on the withdrawal date
-sign up at new business to receive a 5% discount
When is cancellation notice sent?
-minimum amount due not satisfied or less than 90% of minimum due satisfied
-two consecutive payments on two consecutive bills that are less than 90%
When are cancellation notices sent?
On the same cycle as the bill and effective date varies by state
Debit Endorsements-what happens when a debit endorsement is made (example: adding a car to an auto policy)?
The amount of the endorsement is added to the remaining balance owed
When are installment fees charged?
-On partial payments or a payment not paid in full
