Changes in Payment Schedule

Changes in Payment Schedule. An MPACT Contract Purchaser may request a change in payment schedule any time during the MPACT Enrollment Period in which the Purchaser enters the MPACT Program and extending through the 10th day of the month in which the first payment is due for monthly Purchasers, or in which the onetime, lump sum payment is due for lump sum Purchasers. A request for a change in payment schedule must be submitted, in writing, to the State Treasurer and must be received by the State Treasurer within the time frame specified herein. A change in payment schedule at any other time, including at the time of a Beneficiary substitution, may require the MPACT Contract Purchaser to cancel their existing MPACT Contract and to purchase a new Contract during a subsequent MPACT Enrollment Period. Purchasers electing a monthly payment plan may pay off the plan early. In such cases, the Purchaser can obtain a payoff amount by calling 1-800-987-4450.