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Direct Bill Terminology
ExpressIT Terminology
Payroll Deduction Terminology
MRCC Billing Terminology
Billing Method Overview
100
A flag set by the billing system when a policy is set to renew and the balance exceeds $49.99. and/or a non- pay cancel notice is outstanding.
What is Billing Do not Renew (DNR)
100
The date on which MetLife Auto & Home sends an electronic transaction to financial institutions to request premium payments.
What is Bill Run Date
100
Two-digit code that identifies the different payroll groups/locations within the account.
What is PayPoint
100
Dates - 5, 12, 19, 28 to deduct premium for customer
What is MRCC charge dates
100
Bills mailed directly to customers. Direct Bill pay plans (i.e. One Pay, Two Pay, etc.) vary by length of policy term, policy type and state.
What is Direct Bill (DB)
200
Flag set by Underwriting to indicate if payment is received after the cancellation notice the policy can not be reinstated.
What is No Late Pay flag (NLP)
200
A notification that is sent to the customer indicating the amount and the date that funds will be withdrawn from the account, at initial setup, each time the amount being automatically withdrawn increases or decreases by more than $1, each time the insured requests a change in the date the deduction is taken or when the deductions stop altogether
What is Deduction Notice/Prenote
200
A two-digit code that identifies the bill method as payroll deduction. (Example: GPC code =010; Bill Mode Code =10 the last two digits of the GPC code.) Direct bill = 00, ExpressIt = 90 and Home Account Bill = HB.
What is Company Code (Bill Mode Code)
200
Allow MetLife Auto & Home customers to have premium payments automatically withdrawn from selected charge card each month via electronic funds transfer.
What is Monthly Recurring Credit Card (MRCC)
200
Allows MetLife Auto & Home Group customers to have premium payments automatically deducted from paycheck (post tax).
What is Payroll Deduction (PD)
300
A program/system based on the concept that the customer pays in advance.
What is Equity Based Billing
300
A form completed by the insured giving MetLife Auto & Home permission to automatically deduct monthly premium amounts from a bank account. A voided check is preferred but not required to be sent to MetLife Auto & Home along with the 'Authorization Form'. (Some Group customers may authorize withdrawals from a savings account. Verify in GIST.)
What is Authorization Form
300
A three digit account specific code that identifies the Group Account affiliation (company/employer name)
What is GPC Code - Group Producer Code
300
Visa, Master Card, American Express and Discover
What is 4 types of credit cards used to set up MRCC
300
Allow MetLife Auto & Home customers to have premium payments automatically withdrawn from checking account each month via electronic funds transfer.
What is ExpressIT (EI) (preferred option)
400
A notice (bill) for the payment amount due to prevent the policy from canceling.
What is Non-Pay Cancel Notice
400
The date that the insured has selected to have premium withdrawn from their account.
What is Deduction/Draft Date
400
A two-digit code that identifies the payroll frequency (i.e. weekly, bi-weekly, semi-monthly & monthly)
What is Interval Code
400
A customer must notify us a minimum of how many days prior to the charge date in order to prevent another charge attempt
What is 7 business days
400
Provides one monthly bill for premium due on all insured's MetLife Auto & Home policies.
What is Home Account Bill (HAB)
500
A bill that has been sent to the customer and has not yet been paid.
What is Outstanding Bill
500
The response sent to us by the financial institution when the insured does not have enough money in the account to cover our request
What is NSF (non sufficient funds)
500
An agreement made with an employer when we know that will have more than one outstanding payroll deduction payroll deduction bill before they send a remittance (confirmation of deduction file). Setting up an account as delayed remittance prevents bill amounts from respreading.
What is Delayed Remittance
500
3 business days
What is the turnaround time to process a MRCC set up
500
Allow MetLife Auto & Home customers to have premium payments automatically withdrawn from selected charge card each month via electronic funds transfer.
What is Monthly Recurring Credit Card (MRCC)