Will the policyholder be notified of any changes to their policy application that are made after the renewal offer is mailed?Published on: May 22, 2023
No. If the agent makes a change to the policy application after the renewal offer is mailed, the policyholder will not be notified of the change – or how it affects the premium payment amount due. This is important because the policyholder may make a payment for the amount due in their renewal offer without realizing that additional money is still owed. And they will not know additional money is still owed until they receive a Notice of Cancellation. Please alert your policyholders if you make any such changes to their application. Agents can access the policyholder’s Billing Statement to verify any amount still owed in Policy Center and send policyholders a copy.
Renewal offer letters are mailed 60 days before the policy expiration date.