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SunAdvantage Pre-authorized debit (PAD) agreement Category Business 2026

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The document is a Pre-authorized Debit (PAD) agreement from Sun Life Assurance Company of Canada, outlining the terms for automatic monthly withdrawals to pay for group insurance premiums. It details the authorization process, variable withdrawal amounts, payment timing, waiver of notifications, recourse rights for unauthorized debits, cancellation procedures, and assignment conditions. The document also includes sections for client and bank account information.

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How to use or fill out SunAdvantage Pre-authorized debit (PAD) agreement Category Business

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Click ‘Get Form’ to open it in the editor.
Begin by filling out the Client Information section. Enter your policy number, subdivision number, and complete your address including street number, city, province, and postal code.
In the Bank Account Information section, provide details from your current chequing account. Ensure you attach a blank cheque marked 'VOID' for verification.
Confirm authority to debit your account by having all required signatories complete the signature fields. Include the company name on the cheque and ensure dates are filled in correctly.
Finally, review all information for accuracy before sending the completed form to SunAdvantage Client Services at the provided address or via fax.

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What is a pre-authorized debit pad?

A pre-authorized debit allows the biller to withdraw money from your bank account when a payment is due. Pre-authorized debits may be useful when you want to make payments from your account on a regular basis. For example, you may want to use pre-authorized debit for the following: mortgage payments. utility payments.

What counts as a pre-authorized debit?

Pre-authorized debits (PADs) are a convenient way to pay bills and make other payments automatically. Instead of sending a payment, a company withdraws funds from your bank account.

What does preauthorized debit mean?

Your VUL policy provides a cooling-off period that allows you to cancel it fifteen (15) days from the time you receive your policy contract. If you cancel your VUL policy within the cooling-off period, you will get the Fund Value plus all initial charges.

Can I get my money back from Sun Life insurance?

PADs are typically used for recurring payments, like mortgages and utilities, membership dues, charitable donations, RSP investments and insurance premiums. Personal PADs are automated recurring payments from your customers bank accounts for the goods or services you provide.

Is a pre-authorized debit form the same as a void cheque?

Definition of a Void Cheque Void Cheque is being replaced by the term Pre-authorized Debit form or PAD. Lenders use a void cheque or a PAD for much the same reason that employers use it, so they may withdraw or deposit funds to your account as required. Welcome to the convinience of Internet banking.

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What is a business pad on a bank statement?

Personal PADs are automated recurring payments from your customers bank accounts for the goods or services you provide. Business PADs arrange payments for goods or services related to your business, for example, payments between franchisees and franchisors, distributors and suppliers or dealers and manufacturers.

What is a preauthorized debit regular sun life?

The Pre-Authorized Debit (P! D) Service allows you to make regular cash contributions to the Sun Life Financial Inc. Common Shareholders Dividend Reinvestment and Share Purchase Plan (the Plan) by pre-authorized debit of your bank account.

SunAdvantage Pre-authorized debit (PAD) agreement Category Business 2026

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How to use or fill out SunAdvantage Pre-authorized debit (PAD) agreement Category Business

See more SunAdvantage Pre-authorized debit (PAD) agreement Category Business versions

Complete this form in 5 minutes or less

Got questions?

What is a pre-authorized debit pad?

What counts as a pre-authorized debit?

What does preauthorized debit mean?

Can I get my money back from Sun Life insurance?

Is a pre-authorized debit form the same as a void cheque?

Security and compliance

Complete this form in 5 minutes or less

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What is a business pad on a bank statement?

What is a preauthorized debit regular sun life?

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