In view of current interruptions to postal service, the following options are available to your clients to make payments to their policies. We strongly encourage that the policyholder elects either option 1 or 2 as this is the quickest method of having a premium payment applied to a policyholder's policy.
- First Option
- Suggest to client to set up payment via PAC
- Second Option
- Client to pay premium via internet banking
- Client to pay premium via telephone banking
- Third Option- This option is available only during the mail strike.
- Manual credit card payment. Please contact our Customer Contact Centre @ 1-800-387-4483 to obtain a credit card payment form to be completed and signed by the client.
- Fourth Option- This option could result in a minimum two day delay in applying the premium to the policyholder's policy, and is also only available during the mail strike.
- Client may take their sealed, pre-printed or pre-addressed envelope containing their cheque and pre-printed billing to any BMO Financial Institution. Cash payments will not be accepted.
Of course, clients can also drop off their payment at your office to be sent to BMO Life Assurance Company via your regular MGA courier mail.
Although premium billings will not be sent due to the strike, MGA's and brokers will continue to receive their grace period and late payment notices to alert them to the fact that a premium is still outstanding.
For commission payments, if you are still receiving payment by cheque, this is just a reminder that this would be a good time to set up EFT payments which would be unaffected by outside factors such as this strike.
If you have any questions, please don't hesitate to contact our Customer Contact Centre @ 1-800-387-4483.