When customers miss payments it can affect their policies. It can also be a sensitive issue if they have missed payment because they are unable to pay. It is therefore important for both the validity of the policy, as well as the satisfaction of the customer, to ensure payments can and are made.
Policy payments can be something that often slips the minds of your customers, especially if the payments are yearly or quarterly. Along with this, automated payments can often bounce due to insignificant funds.
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