What is the Program Due Date?

The due date set up for the program is the date that will be shown to the insured in the automated payment request emails. By default, This is set as the policy's effective date when you create the program.

This is editable by clicking on the purple text under payment options:

We encourage agents to set this date at least 5-7 days before the effective date of the customer's coverage to avoid funding issues to the carrier or MGA and to factor in payment processing time if the customer chooses to pay via ACH or wire (3-5 business day standard processing timeframes).

If the due date passes without the customer making payment, the payment link will not be affected; they will still be able to make payment.

How is the monthly due date set on a finance agreement?

The monthly due date for a premium finance agreement is always based on the effective date of the underlying policy on on the finance agreement. If there are multiple policies on the finance agreement, the due date will be set based on the earliest effective date of all of the policies.

For example, if the policy is effective February 2nd, the due date will be on the 2nd day of each month.

Can I change the installment payment schedule?

The only scenario where a monthly installment due date can be changed is if the effective date of the underlying policy changed (ie moved from February 2nd to February 10th). If this happens, Ascend can update the due date of the insured's monthly installments to align with the new effective date.

In order to change the due date of monthly installments, you should reach out to [email protected] and share the binder that reflects the new effective date.

Contact Us

Need more help? Contact us at [email protected] for more help.