Insurance Premium Funding involves the lending of funds, to a person or company, to cover the cost of an insurance premium.
The Insurance Premium Finance arrangement may last from one year, to the life of the policy. Commercial Point Finance organizes the funding for your Insurance Premium and then has the Insurance Premium Finance company pay the insurance premium on your behalf. They will then bill you or your company, usually in monthly installments, for the cost of the agreed funding amount.
There are a number of benefits to financing an insurance premium. These include:
- Eliminates the requirement for a large up-front payment to an insurance company
- Allows for clients to obtain needed coverage without liquidating other assets.
- Multiple insurance policies can be attached to a single premium finance contract, allowing for a single payment plan to cover all insurance coverage
- Monthly direct debit payment plan
- No application or account management fees
- Interest charged is tax deductible for businesses
Commercial Point Finance have the experience to source quality cost effective ‘Insurance Premium Funding’ solutions from a number of specialized lenders. Take away the cashflow pressure exerted by large insurance premium payments. This will enable you and you business to capitalize on opportunities and focus on growing your business.
Contact Us for the best Insurance Premium Funding deals today.