Wouldn’t it be great if your business insurance could be paid by the month? Yes, some insurers do offer this already, but chances are, if you are dealing in a niche market or through a broker who is able to source fantastic cover with competitive pricing, the insurer that provides this may not offer a pay by the month option.
In comes the option of Premium Funding! If you deal with Simplex Insurance Solutions, we are able to arrange on your behalf Premium Funding – which is essentially the same as a 12 month loan agreement where the funding company will pay for your premium up front and allow you to pay it off over a 12 month period – evening out cash flow & making sure you can have the most suitable cover possible without it affecting your bank balance in one big hit.
What are the benefits of Premium Funding?
- Premium Funding allows you to spread the cost of your insurance/s across a year rather than one big payment
- It enables you to have a greater choice of insurers as you are not restricted to those who ONLY provide a monthly payment plan as part of their insurance offering
- Any costs involved are likely to be tax deductible
- It can greatly reduce the stress that insurance premiums can often have on the businesses bottom line.
- It is simple and straightforward to setup with our team helping to arrange this on your behalf.
- Frees up your cash flow to use elsewhere in your business
- Can be used for more than one policy
This information is of a general nature only. It does not take y our specific needs or circumstances in to consideration. Please consult your insurance broker before making any decisions regarding insurance and always refer to the Insurance Companies PDS Documents (Product Disclosure Statement)
- Kay Jackson
Director of Simplex Insurance Solutions