<%@LANGUAGE="VBSCRIPT"%>
<%
option explicit
%>
<%
dim rsArticles, sSQL, gStr
set rsArticles = server.createobject("adodb.recordset")
rsArticles.cursorlocation = 3
sSQL = sSQL & "SELECT TOP 10 Articles.Article_ID, Articles.Article_Title, Articles.Article_Excerpt, "
sSQL = sSQL & "Articles.Article_Content, Articles.Article_Posted, Articles.Article_Comments, "
sSQL = sSQL & "Articles.Article_Images, Categories.Category_ID, Categories.Category_Title, Users.User_ID, "
sSQL = sSQL & "Users.User_Name FROM FB_Users AS Users INNER JOIN (FB_Categories AS Categories "
sSQL = sSQL & "INNER JOIN FB_Articles AS Articles ON Categories.Category_ID = Articles.Article_Category_ID) "
sSQL = sSQL & "ON Users.User_ID = Articles.Article_User_ID WHERE Article_Status = 1 AND Article_Level = 0 "
sSQL = sSQL & "ORDER BY Article_Posted DESC;"
rsArticles.open sSQL, adoConn
Do While Not rsArticles.EOF
gStr = gStr & "
" & vbCrLf
rsArticles.MoveNext
Loop
%>
<%=gStr%>
Premium collection
Unless the policy is a single premium contract, then a system will need to be set up to enable premiums to be collected and recorded. Premiums can be payable annually, half yearly, quarterly or monthly. At law the obligation is on the policy holder to pay the premiums. In practice the life office will want to collect premiums and maintain the contract.
Usually the life policy will provide for days of grace if a premium can be paid and if for some reason it was not paid at the due date. In the event of death the life office could stand firm if the premium was not paid by the due date. However in practice this is not normal practice.
Premiums can be paid by cheque, bankers order and account collections.
Renewal notice
The simplest way of premium collection is by sending the renewal notice to the policyholder. This renewal notice shows the premium amount due and the due date. Usually sent two or three weeks in advance. The policy holder can then return the notice with the premium payment.
Virtually all life offices use computers to issue these notices.
Bankers order
Common payment system where the policy holder signs a standing order (instruction) addressed to their bank instructing the bank to make a regular monthly payment of the premium from their bank account on the due date to the insurance company, until requested by the policy holder to stop. When the payment is made it will carry a payment reference that the life office can tie up with the policy.
The alternative is the direct debit system where the policyholder signs a direct debit instruction addressed to the life office, whereby the policy holder instructs the life office to debit their bank account for the premium amount on a monthly basis. The life office then transmits this direct debit instruction to the policyholder’s bank each month for settlement. This direct debit authority can be for an unspecified amount which therefore allows the life office to use the instruction in cases where the premium varies over time.
Account collections
Under some policies there may be an arrangement whereby the life premiums are collected by a third party. For example where the employer arranges the life cover on behalf of their employees. The life office issues individual policies to each employee in the scheme and the employer deducts the monthly premium from their salary. The employer then transmits the premium collected in bulk to the life office.
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Industrial Policies