Benefits
There are a number of benefits to financing an insurance premium. These include:
- Eliminates the requirement for a large up-front payment to an insurance company.
- Multiple insurance policies can be attached to a single premium finance contract, allowing for a single payment plan to cover all insurance coverage.
- Premium financing is often transparent to the individual or company insured. Brokers transmit the completed premium finance agreement to the premium finance company, and the policy holder is billed as they would be for any other typical insurance policy.
- Allows for clients to obtain needed coverage without liquidating other assets.
Read more about this topic: Premium Financing
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