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Great Western | Remember to Enter Effective Dates in MyEnroller

December 17, 2020

When you’re enrolling clients through Great Western Insurance Company’s (GWIC®) electronic application program, MyEnroller, please remember to enter effective dates to make sure clients are not charged more than once in the first month.

Great Western

If an insured has requested a specified draft date, you have the ability in MyEnroller to select a specific date — from the 1st through the 28th — to withdraw the premium every month. If a specified draft date is not selected, the default draft date will be the day of the effective date. Premiums are drafted in the same month as the policy is effective; therefore, unless a future effective date is chosen, the first premium may draft immediately upon activation and the second premium will draft on the requested draft date for subsequent premiums.

Future preferred effective dates must be within 60 days of the written date. If a preferred effective date is not chosen, the policy will default to the written date.

Here are examples of when the initial and ongoing payments will be withdrawn:

Example 1:

The policy is written and activated on Nov. 2 with no specified effective date. A specified draft date of the 15th is requested. The policy effective date will default to Nov. 2, and the initial premium will draft Nov. 15 for the November premium. The second premium will draft on Dec. 15, and future premiums will draft on the 15th of each month.

Example 2:

The policy is written and activated on Nov. 28 with no specified effective date. A specified draft date of the 4th is requested. The policy effective date will default to Nov. 28, and the initial premium will draft immediately for the November premium. The second premium will draft on Dec. 4 for the December premium, and future premiums will draft on the 4th of each month.

Example 3:

The policy is written and activated on Nov. 28 with a future effective date of Dec. 1 requested. A specified draft date of the 4th is requested. The policy effective date is Dec. 1 as requested and the initial premium will draft on Dec. 4. The second premium will draft on Jan. 4, and future premiums will draft on the 4th of each month.

Example 4:

The policy is written and activated on Nov. 28. Neither an effective date is specified nor a draft date is requested. The policy effective date will default to Nov. 28, and the initial premium will draft immediately for the November premium. The second premium will draft on Dec. 28, and future premiums will draft on the 28th of each month.

If you have any questions, please call Agent Care at 866-252-5594, option 2, Monday–Friday, from 7:30 a.m. to 4:45 p.m. Central time or email m1agentsupport@americanenterprise.com.

For more information, contact a Pinnacle Financial Services representative today

1 (800) 772-6881 x7731 | sales@pfsinsurance.com

Contact a Pinnacle Representative if you have any questions.

1 (800) 772-6881
support@pfsinsurance.com

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