Unlike some direct insurers, most intermediated insurers do not offer the option of paying premiums monthly without additional costs. Insurers generally require the full annual premium upfront.
To make monthly payments possible, we arrange this through a Premium Funding provider. This works like a short-term loan designed specifically for insurance. The funding company pays the insurer in full, and you repay the funding provider in monthly instalments.
Key points to understand:
- Additional costs – The funding provider charges interest and fees, similar to other forms of finance. We will always disclose these costs clearly before you proceed.
- Flexibility for cash flow – Premium funding helps spread the cost of insurance across the year, which can make budgeting easier for many businesses.
- Multiple policies under one loan – You can combine several insurance policies into a single premium funding agreement, which keeps repayments simple and consolidated.
- Choice is yours – Some clients prefer to pay upfront to avoid extra costs, while others value the cash flow benefits of instalments. We can help you weigh up which approach is best for your circumstances.
We will guide you through the process and make sure you understand how premium funding works, including the repayments and fees involved, before you decide.
Contact us to discuss your payment options and find the most practical way to manage your insurance costs.
