Insurance Share Account Maintenance

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UDISA-01 Loan Insurance Share Account Selection 5243

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This screen appears when you select Insurance Payment Account on the first Miscellaneous Loan Maintenance screen.

If a loan is set up with insurance coverage, a member can elect to have insurance premiums deducted automatically from a share account. This screen is used to specify which share account should be used.

If the Add to balance field was checked when loan insurance was originally added to the loan, this feature is not necessary. Also, some third-party vendors do not allow insurance to be paid this way. Check with your insurance vendor for more information.

• NOTE: Use Delete (F4) to delete the automatic withdrawal procedure for insurance premiums. If the insurance has not been totally discontinued, you must set up a new payment plan at this time.