Premium Late Payment Notification

Premium Late Payment Notification

12:58 20 May in Alerts, News
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Forestry Mutual’s monthly self-reporting premium payment is due beginning the first day of each month.  The payment must be received in our office by the 15th of the month to avoid cancellation of policy for nonpayment of premium. As a reminder, please mail the monthly payment with enough lead time so that it will be received in Raleigh, NC prior to the 15th of the month in order to avoid the cancellation/intent to cancel issuance.

Policyholders in Virginia, South Carolina, Tennessee and Georgia: If payment is not received by the 15th we will issue a 10 day cancellation notice. This cancellation notice will be mailed certified to the policyholder. A letter regarding the pending cancellation will also be sent to all certificate holders notifying them that the policy is due to cancel if payment is not received. If the payment is received after the notice is sent out, but prior to cancellation date, then the policy is reinstated and both the policyholder and certificate holders are again notified via US Postal Service that the payment has been received and the policy will not be canceling.

Policyholders in North Carolina: An “Intent to Cancel” notice is sent (in similar fashion as the other states) to both the insured and their certificate holders on the first business day after the 15th.. This letter states that the policy will be cancelled in 15 days if payment is not received. If the payment is received after the notice is sent out, but prior to cancellation date, then the policy is reinstated and both the policyholder and certificate holders are again notified via US Postal Service that the payment has been received and the policy will not be canceling.

An alternative to mailing your check and worksheet each month is to sign up for our online payment plan using the Customer Information Center [CiCenter]. The payment must still be posted by the 15th to avoid cancellation notices being issued, but you can avoid any issues that could occur in transit using the US Postal Service. There are no extra fees for paying your premium online and you can easily view current and past policy information, run reports and even check your premium information using the safe and secure Customer Information Center. If you have an accountant or agent paying your premium each month, just fill out the third party authorization form

Should you have interest in signing up for online payment plan, please contact:

       Brittany Rhinehart 919.747.7596 brhinehart@forestrymutual.com      or     Tammy Bowers 919.747.7512 tbowers@forestrymutual.com

 

Brittany Rhinehart

brhinehart@forestrymutual.com
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