Click here for the original John Hancock Newslink article on this change
John Hancock has established a new notification step to help set your client’s expectations regarding the timing of a bank draft deduction. We are adding a reminder to the new business set up to ensure the producer authorizes bank draft cases. This allows you an opportunity to notify your clients of approval – so that they are aware when the first premium will be deducted from their account. You simply need to notify your case manager when the time is appropriate to deduct. There is no paperwork required.
If you have any questions, please contact your case manager or speak to a New Business representative at 800-377-7311. Please note: the bank draft authorization may be provided to your case manager at any point during the new business process.