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 reinstatement clause

Clause in an insurance policy that provides for automatic restoration of the full face value of the policy after payment for a loss. Also called reinstatement.
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UK: Also called a self-renewing clause. A clause under which the sum insured or limit of indemnity is automatically restored to its original level following a claim.
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A clause in an Insurance Policy which provide for automatic reinstatement of the full face value of the Policy, after payment for a partial loss. Refer “Reinstatement.”