Premium Funding

Insurance premiums are one of business’s biggest annual costs – but there is a way to spread the cost.

How does it work? Insurance Premium Funding is a simple and effective method of paying for your annual insurance premiums, but on a monthly payment basis. Effectively, the premium-funder pays your premiums to insurers upfront and charges you a monthly amount to repay the annual premium. This includes a fixed rate credit charge as this is a loan.

For example, the prospect of paying an annual insurance premium in one hit can be daunting, particularly if the due date coincides with other bills or large expenses. However, a premium funding option can be an effective way to not hit a company’s cashflow too hard.

Paying insurance premiums by the month can assist your business in:

  • Improved cash flow through no large upfront payments
  • Additional line of credit without security
  • Low, fixed interest rate
  • No on-going service fees
  • Frees up working capital
  • Doesn’t impact existing finance facilities, such as bank overdrafts
  • Interest repayments are tax deductible
  • Flexible payment options, up to 12 monthly instalments
  • Various repayment methods, including direct debit and credit card

Protect yourself & your business

Protect yourself & your business