google bot detected Preauthorized Check System Pac | Insurance Glossary | Realestateagent.com

Preauthorized Check System Pac


Definition of "Preauthorized check system (pac)"

Dave  Nelson
  Coldwell Banker Sunstar Realty

Arrangement by which a policy owner authorizes an insurance company to draft his checking account for premiums due on an insurance policy. The drafting is usually monthly, persistency of policies paid this way is substantially higher than when insureds pay them directly to an insurance company.



Related Real Estate Glossary terms

Related Real Estate FAQ