A&h New Hire- #7- Introduction To Billing

Front 1

Bill Mode

Back 1

The billing method (how we bill our customers).

• Direct Bill (DB)
• ExpressIT (EI)
• Payroll Deduct (PD)
• Monthly Recurring
Credit Card (MRCC)

Front 2

Deficit Bill

Back 2

A bill for the short (behind) equity amount.

Front 3

Equity

Back 3

The days of insurance purchased.

Front 4

Earned Premium

Back 4

The premium (balance) due for coverage provided on a canceled or expired policy.

Front 5

Equity Based Billing

Back 5

Program/system based on the concept that the customer pays for coverage in advance.

Example: Direct Bill (DB)

Front 6

No Late Pay Flag (NLP)

Back 6

Flag set by Underwriting indicating if payment received after cancel date, the policy can not be reinstated.

Front 7

Non-Pay Cancel Notice

Back 7

Notice (bill) for the payment amount due to prevent the policy from canceling.

Front 8

Payment Plan

Back 8

Direct bill (DB) installment plan to pay insurance premium.

Front 9

Scheduled Equity

Back 9

The number of days required to be purchased by the specific due date for the matching pay plan.

Front 10

Underwriting Do Not Renew (UW DNR)

Back 10

Flag set by Underwriting indicating the policy will not renew.

Front 11

ExpressIT Authorization Form

Back 11

Form signed by the insured authorizing MetLife Auto & Home to automatically deduct monthly premium from a bank account.

Front 12

Bill Run Date

Back 12

Date MetLife Auto & Home sends electronic confirmation to financial institutions to request premium payment.

Front 13

Deduction Notice/Prenote

Back 13

Notification sent to the customer indicating the date and amount that funds will be automatically withdrawn from the bank account.

Front 14

ExpressIT

Back 14

Payment plan where premium is automatically deducted monthly via electronic funds transfer (EFT).

Front 15

Non-Equity Based Billing

Back 15

Program//system based on the concept that the customer pays in lower increments to keep policy active.

Front 16

Direct Bill

Back 16

Billing method where bills are mailed directly to customers.

Front 17

GPC Code

Back 17

Three digit code that identifies the Group Account affiliation (company/employer name).

Front 18

Pay Interval

Back 18

Two Digit code that identifies the pay frequency (weekly, bi-weekly, semi-monthly).

Front 19

Paypoint

Back 19

Two digit code that identifies the different payroll groups/locations within the account.

Front 20

Payroll Deduct

Back 20

Payment plan that allows MetLife Auto & Home Group customers to have premium automatically deducted from their paycheck.

Front 21

Refund

Back 21

Overpayment which is being retuned or credited back to the customer.

Front 22

Company Code (Bill Mode Code)

Back 22

Two digit code that identifies the bill mode code.

Front 23

Equity Date

Back 23

The date which the policy is paid to.

Front 24

Outstanding Bill

Back 24

A bill that has been sent to the customer & has not been paid.

Front 25

Monthly Recurring Credit Card

Back 25

Payment plan that allows customers to have premium payments automatically charged to their credit card accounts each month.

Front 26

Monthly Recurring Credit Card Authorization Form

Back 26

Form signed by the insured authorizing MetLife Auto & Home to automatically charge a credit card monthly.