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EXCEL INSURANCE AGENCY INC. 80 Acadia Ave., Suite #205 Markham Ontario L3R 9V1 TEL: (905× 4708222 FAX: (905) 4708306ADDITIONAL DEPOSIT / PAC CHANGE REQUEST FORM Policyholders Caregiver Adjoint Policyholders
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How to fill out additional deposit or PAC:

01
Start by obtaining the necessary forms from your financial institution. These forms may be available online, or you may need to visit a branch in person to request them.
02
Carefully read the instructions provided with the forms. These instructions will guide you through the process and provide details on what information you need to provide.
03
Begin by filling out your personal information, such as your name, address, and contact details. Ensure that you provide accurate and up-to-date information.
04
Next, you will need to provide details about the type of additional deposit or PAC you wish to make. This may include specifying the amount you want to deposit or the contribution plan you would like to enroll in.
05
If requested, provide any additional information or documentation required. This may include proof of identification, bank account details, or other supporting documents.
06
Review the completed form to ensure that all information is filled out accurately and legibly. Double-check important details such as account numbers or payment instructions.
07
Sign and date the form as required. Make sure to sign with the same signature as on your account records to avoid any discrepancies.
08
If applicable, make a copy of the filled-out form for your records. It's always a good idea to keep a copy in case any issues or discrepancies arise in the future.
09
Submit the form to your financial institution following their specific instructions. This may involve mailing the form, dropping it off at a branch, or submitting it online through their website or financial portal.

Who needs additional deposit or PAC?

01
Individuals who want to increase their investments or savings may choose to make an additional deposit. This allows them to contribute more funds to their existing accounts, such as a savings account, retirement plan, or investment portfolio.
02
Those who are enrolled in a pre-authorized contribution (PAC) plan may need to fill out additional forms to adjust the contribution amount or update their payment details. PACs are commonly used for automatic contributions to mutual fund investments or other investment vehicles.
03
People who want to take advantage of certain investment strategies, such as dollar-cost averaging, may opt for additional deposits or PACs. These strategies involve regularly adding funds to investments over time, regardless of market fluctuations.
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Additional Deposit or PAC stands for Pre-Authorized Contribution. It is an extra payment made by a borrower to reduce the principal balance of a loan.
Any borrower who wishes to pay off their loan faster by making extra payments is required to file additional deposit or PAC.
To fill out additional deposit or PAC, the borrower needs to indicate the extra amount they wish to pay towards their loan each month.
The purpose of additional deposit or PAC is to help borrowers pay off their loan faster and reduce the amount of interest they pay over the life of the loan.
The information reported on additional deposit or PAC includes the extra amount paid, the loan account number, and the borrower's contact information.
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