Insurance premium finance
A lending facility for business customers who wish to spread the cost of annual insurance premiums over monthly instalments so that they can smooth out their cash flow.
Unsecured or secured by policies financed
Finance is generally available without tying up other business and personal assets.
In most instances no additional security is required. Directors’ guarantees are required for company borrowers when financing >$250K
Potential tax benefits
Deductions may be available on the interest paid on the facility.
Simple loan against policy.
Flexible financing term
Smooths cash flow by breaking one lump payment into a series of payments over the year. May be able to reimburse premiums already paid by the customer – would require presentation of receipt/confirmation of payment (conditions apply).
Finance a variety of insurance types
Bundle all insurance costs together.
Can be used to finance Professional Indemnity, Workers Compensation, General Business Insurance, Motor Vehicle Fleet registrations and CTP.