Policy Premium Payment Services Clause Samples

Policy Premium Payment Services. The Servicer will prepare check requests on a periodic basis to effect a transfer from the VSI Policies Account held by the Servicer for the benefit of the Trustee into a premium payment account held by the Servicer for its own account, for the payment of premiums to insurance carriers, account for such checks in the general ledger system maintained by the Servicer for and on behalf of the Trustee, mail its own checks to the insurance carriers from such premium payment account, and confirm with the insurance carriers that the Servicer’s checks have been received and credited; and