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PRODUCTS - Premium Payment Plans
MDAdvantage offers the following installment options:
- Payment in full (available to all policyholders)
- Three-Installment Plan (available to all policyholders):
First installment, 50% of total premium, then two additional installments each equal to 25% of total premium, invoiced bimonthly. A service fee of $25.00 will be charged for each installment and will not exceed $75.00.
- Five-Installment Plan (available to policyholders with annual premiums of $80,000 or more):
First installment, 30% of total premium, then four additional installments each equal to 17.5% of total premium, invoiced bimonthly. A service fee of $25.00 will be charged for each installment and will not exceed $125.00.
- Twelve-Installment Plan (available to all policyholders) at a competitive interest rate
Cancellation:
If a policy is cancelled by the Company during the policy period, return premium will be calculated pro-rata. If the named insured cancels the policy and places coverage elsewhere, the return premium calculation will be short-rated, which means the return premium will be equal to 90% of pro-rata.
Please contact our Policyholder Services Department at 888-355-5551 should you require further information.
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