Automatic bill payment

Bank service that permits payment by one check to a number of creditors or direct payment by the bank for specified recurring bills by monthly transfer of funds (e.g., payment of insurance premiums). See also electronic funds transfer system (EFTS) and preauthorized payment. Also called bank check plan, check deposit billing, electronic funds transfer system (EFTS), check-o-matic, preauthorized checking, or preauthorized payment.

Automatic coverage

Coverage that is automatically provided under an existing policy to cover newly purchased property or property that appreciates in value.
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Insurance coverage given automatically by a Policy, usually for a specified period and limited amount to cover increasing values and newly acquired and changing interests.