As of September 18, 2023, all billing notices (Notice of payment due, Payment overdue, and Final notice – policy lapsed) will be uploaded as eNotifiations in webcappow for advisors and distributors.
Billing notice enhancements
The chart below outlines the changes to process in red:
| Item | When sent | To who |
|---|---|---|
| Notice 1 – Notice of payment due | 30 days before due date | Client (myivari or mail) Advisor & MGA via eNotification |
| Notice 2 – Important notice – payment overdue | 15 days after due date (Day 15) | Client (myivari or mail)
Advisor & MGA via eNotification
|
| Notice 3 – Final notice – policy lapsed | 1-2 days after the end of the 31 day grace period (Day 32-33) | Client (myivari or mail) Advisor & MGA via eNotification |
Additional notes:
- Any policy that has an overdue premium will appear on the Advisor/MGA’s Overdue Premium Report and on the Outstanding Premiums tab on webcappow report after Day 1—this has not changed
- Advisors need to be opted in for inforce letter notifications to receive these notifications
- eNotifications will be included in daily consolidated notifications providing they are subscribed to in force policy notifications
- Notice 2 and 3 are not applicable to UL policies as those have shortage notifications that were always sent to the Advisor/MGA via eNotification
Published on: September 29, 2023