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Standard Continuous Plan
[ Download Standard Continuous Plan information sheet (PDF Format) ]
Basic Plan Information
- This plan follows the Standard Continuous Plan rates (see info sheet)
- Down Payment must be a minimum of 25% of Total Premium
- Due date of first installment cannot exceed 30 days from date of policy
- Minimum of a $20.00 service charge
- Pre-Authorized Payment Required
- Due to special rates IFS payment to broker will be made 30 days after policy date
Instructions to Agent or Broker
- Total Premium includes Tax
- Down Payment must be greater than Minimum Retained
- Principal Balance is Premium less Down Payment
- Service Charge (finance charge) is calculated as a percentage of the Premium
- Total Balance is Total Premium + Service Charge
- Payment Amount is Total Balance ÷ 12
- Policies written for a term of less than one year, non-cancellable policies, where the unearned premium is computed by other than short rate or pro-rata methods are ineligible
For more information on this plan, download the information sheet (PDF Format).
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