Pre-authorized chequing (PAC) can be reinstated on life, long term care, critical illness insurance and accumulation annuity policies when all the following criteria are met:
- All outstanding premiums are paid to date.
- Any outstanding returned payment fees are paid.
- The payor is the same.
- If the payor changes a new form is required. Please have the PAC payor(s) complete and sign the form. We must receive the form before the PAC information can be updated.
- If there are multiple account holders and the bank requires the signature(s) of
- only one account holder; we require one signature on form E75
- all account holders; we require all signatures on form E75
- The PAC arrangement ended 6 months ago or less. If the PAC arrangement ended more than 6 months ago, it's important that you confirm the banking information with the payor and let us know by completing the Request centre form PAC - banking information - change.
If the PAC arrangement ended more than 12 months ago: A newform is required. Please have the PAC payor(s) complete and sign form.
If PAC was cancelled due to a banking problem: Please send us new banking information by completing the Request centre form PAC - banking information - change.
To reinstate a PAC, please use the Request centre form PAC - reinstate. If the payor has multiple PAC arrangements, complete a separate request for each PAC arrangement.