L o a n W i z e – W i z e U p t o y o u r B e s t F i n a n c i a l D e c i s i o n

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Fact Sheet: Insurance Premium Finance

One of the factors that assist in the management of business cash flow is when your expenses can be paid at regular intervals. Consider your payments for salaries, rent, leases, light and heat etc. All of which occur in management instalments. When it comes to business insurance, most insurers expect you to pay the full year’s premiums in one lump sum, which in many cases can represent a significant strain on your cash flow. But now, your business insurance premiums can be handled in instalments with Insurance Premium Finance.

How Insurance Premium Finance works

• Insurance Premium Finance is a method of short-term lending which allows you to spread your business insurance premium payments to suit your cash flow.

• It is available to businesses with annual insurance premiums of $5,000 or more.

• Repayments can be made over 6 to 12 monthly instalments

• Under normal circumstances, no security is required other than the insurance policy

• Guarantees may be required in some cases. Exceptions may apply for Professional Indemnity Insurances.

Availability: Insurance Premium Finance is available on most types of business insurances, including:

• General Business Insurance Premiums • Motor Fleet Policies • Public Liability Premiums • Professional Indemnity • Motor Vehicle Registration Fees & CTP Insurance • Work cover and Workers Compensation

Features at a glance:

• Choice of funding terms

• Available on Most types of business insurance

• Can finance Full or partial amounts of premiums

• Ability to consolidate premiums on one finance contract

• Flexibility to nominate preferred repayment date from nominated account

• Quick and easy application process

L o a n W i z e – W i z e U p t o y o u r B e s t F i n a n c i a l D e c i s i o n

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Home Loans Investment Loans Business Loans

Commercial Property Loans Asset Finance

Features Benefits

Choice of funding terms between six and 12 monthly

instalments

Provides your business with maximum

flexibility in financing your insurance

premiums.

Spreads the cost of the annual premiums over the

insurance term

No lump sum payments.

Enhances cash flow and preserves existing

lines of credit, loans and overdraft facilities

The insurance policy is used as security on cancellable

insurance up to $250,000

No additional security required in most

cases

Competitive interest rates

Competitive fixed rate, often charged at a

rate lower than many alternative methods of

financing

With Workers Compensation, full annual premiums,

individual instalments or adjustments to previous

years’ instalments can be financed.

Flexibility

Ability to consolidate different insurance premiums on

the one finance contract Convenient hassle-free as all payments can be managed by the one facility

Flexibility to nominate preferred repayment date from

your nominated account

Can be structured to suit business cash

flows

Quick and easy approval process Simple, no fuss application process.

What our clients say: “I have used Jon personally for my lending requirements.... I can highly recommend him and his associates..... Jon did a critique of a quote my existing bank did for continuing some of my finance. From memory, Jon saved me $20,000 pa which is $100,000 over the 5 year term. I think it is spectacular. I am RAVING FAN of LoanWize.” ” Pippa Coleman, Maroochydore” “I have known Tammy for over five years both on a professional and personal basis. I have always found Tammy to be competent, ethical and personable. She is highly qualified in her field and if you are looking for a loan broker who will look after you, then I highly recommend Tammy.” Sharee Miller, Business Owner If you would like more Details on Insurance Premium Funding or would like to speak to a Professional Mortgage Specialist about your personal circumstances, please phone Loan Wize for an appointment.