IFS Policy & Procedures Updates
(Effective November 8th, 2006)
In the future, please refer to this page for information on changes at IFS indicating updates and the effective date for implementation.
NEW POLICY
Additional Premiums (Debit Endorsements)
Effective immediately the additional premiums on Continuous Contracts must be done as follows:
- The minimum is one hundred dollars ($100.00)
- An Additional Contract must be prepared and signed
- The appropriate Down Payment collected
- Original policy can not be greater than five months old before we can accept and process.
REMINDER OF PRESENT POLICY’S
1. Payment Dates
Continuous Contracts: Absolutely no changes allowed to payment dates as changes would affect the renewal.
Standard Contracts: Customers Due Dates may only be changed to accommodate early payment.
Example: Policy Date of March 25th, normal due date is April 25th but payment date chosen may be anywhere between March 25 and April 25.
2. Contract Applications
All required fields must be properly filled in including:
- The Annual Rate
- Full address, Postal Code and phone number of the insured
- Full name and address of the Insurer
- Contracts must be signed in all appropriate locations by broker and insured. Have the insureds signature witnessed, if possible.
- Fee’s must be disclosed and if so they will be included in the down payment
- Please ensure all handwritten contracts are legible
Above is needed before we can process contracts for payment.
This update enables us to make changes necessary to improve our structure for the future, while continuing to meet our customers' needs. As a result, IFS will be a stronger company, able to continue to invest in our present programs and develop new product offerings to serve you better.
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