NC PREMIUM & BUDG-O-MATIC FINANCE COMPANIES
P.O. BOX 367
DUNN NC 28335
TELEPHONE (910) 892-4440
FAX: 910-891-4043

Downloads for NCPF and Budg-O-Matic

The BOM Package for Jenesis.

PF-6 forms
Direct Deposit Authorization *
Notice of Additional Premium - Bad Debt *
Payment - Bank Draft *
Agent Data Sheet

* These are MS Word Documents

PROCEDURES AND GUIDELINES

THERE ARE 3 DUE DATES:

IF INCEPTION DATE IS:

1^ST THRU 9^TH, THE FIRST PAYEMNT IS DUE ON THE 5^TH OF NEXT MONTH

10^TH THRU 19^TH, THE FIRST PAYMENT IS DIE ON THE 15^TH OF NEXT MONTH

20^TH THRU 31^ST, THE FIRST PAYMENT IS DUE ON THE 25^TH OF NEXT MONTH

ANY PREMIUM OVER $2,000 MUST HAVE PRIOR APPROVAL BEFORE FINANCING:

DP WILL VARY!

ANY PREMIUM OVER $2,000 REQUIRES

35% DOWN PAYMENT WITH 6 PAYMENTS (ANNUAL POLICIES)

40% DOWN PAYMENT WITH 3 PAYMENTS (6 MONTH POLICY)

DP REQUIREMENTS FOR REGULAR POLICY PREMIUM:

35% DP 6 MONTH NEW BUSINESS 1-4 MONTHLY PAYMENTS

30% DP 6 MONTH RENEWAL 1-4- MONTHLY PAYMENTS

30% DP ANNUAL NEW BUSINESS 1-8 MONTHLY PAYMENTS

25% DP ANNUAL RENEWALS 1-8 MONTHLY PAYMENTS

NEW BUSINESS=6 MONTH POLICY

5 PLAN PAY=DUE DATE IS ONE DUE DATE EARLIER.

RENEWAL =6 MONTH POLICY

5 PLAN PAY=DUE DATE IS ONE DUE DATE EARLIER

ANY POLICY FEES AND TAXES SHOULD BE COLLECTED IN ADDITION TO THE STATED DOWN PAYMENT.

IMPORTANT MESSAGE TO JENESIS USERS:

DOWN PAYMENT REQUIREMENTS MAY BE DIFFERENT IF PRESENTED WITH JENESIS SOFTWARE. YOUR AGENCY DOWN PAYMENT WILL BE INTEGRATED WITH THE JENESIS SOFTWARE.

COMMERCIAL AUTO

TRUCKER POLICIES: CALL FOR APPROVAL

ANY TAXES, POLICY FEES, AND STATE FILINGS PREMIUM MUST BE COLLECTED WITH INTIAL DOWN PAYMENT.

WORKERS COMPENSATION POLICIES ANDY ANY OTHER AUDITED POLICY:

CALL FOR APPROVAL

50% DOWN PAYMENT 4 MONTHLY PAYMENTS =NEW BUSINESS

ADDITIONAL PREMIUMS

AGENT MUST VERIFY THAT:

1. CUSTOMER’S ACCOUNT IS IN CURRENT STATUS. (NO LATE OR CANCEL STATUS.)

2. 90 DAY REMAINING IN POLICY PERIOD

IF POLICY IS IN CANCELED STATUS ANY ADDITIONAL PREMIUM CANNOT BE ADDED.

DP REQUIREMENTS FOR ADDITIONALS ARE AS FOLLOWS:

35% DP ON ANNUAL POLICIES

40% DP ON 6 MONTH POLICIES

50% DP ON ANY POLICY WITH 1 PAYMENT REMAINING

TRANSMITTALS

MUST BE FAXED TO BFI/NCPF BEFORE 11:00AM

UPLOAD REPORTS

FAX AT THE END OF DAY OR BEFORE 8:30 AM THE NEXT AM.

AGENT DRAFT AUTHORITY FORMS, DIRECT DEPOSITS MUST BE SIGNED,

DATED AND RETURN TO BFI/NCPF BEFORE TRANSMITTAL REPORTS, UPLOAD REPORTS SUBMITTED TO FINANCE COMPANY FOR PAYMENT.

POLICY NUMBERS:

WE WILL MAIL/FAX A REPORT THAT REQUEST MISSING POLICY NUMBERS, PLEASE UPDATE THE REPORT AND FAX BACK ASAP.

PLEASE ENTER INSURANCE COMPANY CODES FROM THE LIST THAT IS

PROVIDED TO YOU BY THE NCPF. THESE CODES WILL NEED TO BE

MANUALLY ADDED INTO YOUR SYSTEM BEFORE YOU UPLOAD CONTRACTS.

A CALENDAR IS SENT TO YOU THE FIRST OF EACH MONTH PROVIDING THE

DATES OF LATE NOTICES AND CANCELLATIONS NOTICES FOR THE MONTH.

CANCELLATIONS

A FINAL LIST IS FAXED TO YOUR AGENCY THE DAY BEFORE CANCELLATIONS ARE MAILED TO THE COMPANY.

ALL COMPANY CANCELLATIONS ARE SENT TO

THE COMPANY THE SAME DAY THE CANCELLATIONS

ARE MAILED TO THE CUSTOMER.

CUSTOMER INSUFFICIENT FUNDS CHECK=REIMBURSEMENT TO AGENT

AGENT SHOULD SUBMIT THE ORIGINAL RETURNED CHECK AND THE BANK NOTIFICATION OF INSUFFICIENT FUNDS

WE ALLOW 15 DAYS FOR THE AGENT TO FORWARD THE RETURN CHECK TO NCPF. AFTER THAT DATE IT IS THE AGENT’S RESPONSIBILITY TO COLLECT THE FUNDS FOR THE INSUFFICIENT CHECK.

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WE DO NOT REIMBURSE AGENT FOR NSF CHECKS TAKEN FOR REINSTATEMENTS.

If you do not use Jenesis software, we can get software to print plain paper contracts.

*******IMPORTANT MESSAGE***************************

FORWARD ORIGINAL SIGNED PREMIUM FINANCE AGREEMENT TO THE FINANCE COMPANY IMMEDIATELY.

DELAY IN DOING THIS MAY PREVENT DISBURSEMENT OF MONEY

REINSTATEMENTS:

We honor reinstatements on account as follows:

Agent provides a name at the Insurance Company that agrees to reinstate policy.

All payments are made current.

***If a customer’s account cancelled because of nonpayment of a monthly payment and the billing cycle has already occurred for the next monthly payment, we require that both payments be made to bring the account to current status.