Payment Plans

Wawanesa Insurance currently offers policyholders two payment plan options: Payment by Installment and The MAC Plan (Monthly Automatic Chequing). Both are only applicable to 12-month policies.

Payment by Installment

We currently offer three Payment by Installment plans. Your insurance documents and account statement are sent directly to you prior to the due dates.

Full Pay Plan
Pay your premium in full by the Effective Date

Two Pay Plan
Pay your premium in two installments (50% by Effective Date and 50% in 90 days)

Three Pay Plan
Pay your premium in three installments (40% by Effective Date, 30% in 90 days, 30% in 180 days)

Example (based on $1,000 annual premium):

Full Pay Plan Two Pay Plan Three Pay Plan
1st Installment
Effective date of policy
$1,000 $500 $400
2nd Installment
90 days from effective date
$500 plus s/c* $300 plus s/c*
3rd Installment
180 days from effective date
$300 plus s/c*

* $5.00 service charge (s/c) applied per installment

The MAC Plan (Monthly Automatic Chequing)

The MAC Plan is our pre-authorized monthly automatic withdrawal plan. You can authorize Wawanesa to withdraw your monthly payment from your chequing or savings account.

All monthly withdrawals are equal to 1/12 of the annual premium, plus service charge.

A NSF fee will be charged for insufficient funds.

For information on enrolling in the MAC plan upon renewal, please contact your Insurance Broker.

NOTE: If your chequing or savings account information changes, please advise your Insurance Broker as soon as possible. Wawanesa requires this information two weeks prior to the due date of your next scheduled withdrawal.

The Broker Advantage

Speak to an Insurance Broker for expert advice on your insurance needs. They are unbiased, experienced professionals who ensure your interests come first.

Find a Broker

Related Links
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