11. If my insurance premium is overdue, when will the Bureau of Labor Insurance send a collection notice and/or issue a deadline for the payment?
- If the insured unit has not made the premium on time, the Bureau will issue a collection notice in the beginning of the month following the expiration of the grace period for premium payment. Please make the payment as soon as possible after receiving this notice. If the premium remains unpaid, the Bureau will send the collection notice with a prescribed deadline at the end of the month by registered mail with return receipt. The purpose of this second notice is to remind the insured unit to make the payment promptly in order to avoid penalties at a later time.
- Example: Suppose the payment concerned is for January 2015 and the grace period ends on March 15, 2015. If the insured unit has not paid the premium by March 15, 2015, the Bureau of Labor Insurance will issue a collection notice in early April 2015. If the payment has not been paid by then, the Bureau will issue another notice by registered mail with return receipt with a specified deadline at the end of April 2015.