The fast and easy way for Ontario producers to pay their premiums is through their financial institution. The last day to pay Production Insurance and Risk Management Program (RMP) premiums is fast approaching.
Last year, 55 per cent of all premiums and fees were paid through a financial institution and one-third of program payments were made through direct deposit.
Paying your premium
Paying through a financial institution takes only a few minutes, and the payment is processed faster than paying by cheque. Producers can pay their premiums for Production Insurance and RMP using online banking, by telephone banking or in person at their branch.
July 10 – last day for producers to pay their Production Insurance premiums for most spring-seeded crops.
July 31 – last day for producers to pay their RMP: Livestock premiums in full or pay their first semi-annual instalment.
August 8 – last day for producers to pay their RMP: Grains and Oilseeds premiums.
Pay the right payee
When customers pay their premiums through their financial institutions, they should be sure to direct their payment to the appropriate Agricorp account. Agricorp has different payee accounts for different programs, and it's important to pay the right account to avoid processing delays.
Producers have enough to do without the hassles of cheques. They can get cash in their account five to seven days faster with direct deposit. Direct deposit is convenient, reliable and secure.
To sign up, producers can call Agricorp or go to agricorp.com/directdeposit. All producers need is a void cheque and a few minutes of their time to make things a little easier.