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What is a Pre-Authorized Payment Plan (Check-o-Matic/PAC/COM)?

April 26, 2017check-o-matic PAC payment Plan pre-authorized

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What is a Pre-Authorized Payment Plan (Check-o-Matic/PAC/COM)?

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Pre-Authorized Payment Plan is the withdrawal of premium payment on a designated date. To have the premium withdrawn from a checking or savings account, the Pre-Authorized Payment Plan form needs to be completed and submitted to Customer Service. All policies to be included on the deduction need to be listed on the form. A void check or deposit slip from the bank will need to be included with the form.