We finance most short-term insurance covers, however, each transaction is assessed on its own merit and vetted by our credit department. We have long standing relationships with all major insurers and underwriting managers within the South African insurance market.
As with any annual insurance policy, any reduction in cover would necessitate a refund from the insurer in question. As such, your loan agreement will be adjusted by way of a credit endorsement in accordance with your insurance policies and should your cover reduce, so would your repayments. Upon receipt of the refund from the insurer, your loan will be adjusted accordingly.
No, we are able to offer finance over any term. The shorter the term, the better the rates offered. We typically finance our clients over 6, 8, 10 & 12 months, dependant on our clients cash flow requirements.
How do brokers decide if Premium Finance is right for their clients?
Brokers should consider Premium Financing for all their clients that have sizeable or complex insurance policies.