What Is Premium Funding Insurance?

Take advantage of premium funding your business insurance to ease your cash flow by spreading the cost of your insurance premiums throughout the year.

Premium funding your insurance allows your business to spread the cost of its insurance premiums over the year. Instead of paying your annual premiums upfront, you can borrow the value of your premiums and repay them in monthly instalments, plus interest.

KBI has established relationships with several premium finance companies and is pleased to provide you with a competitive quote.

What Are the Benefits of Premium Funding Insurance?

Explore how premium funding insurance can provide financial flexibility and support for your business.

There are many reasons that a business might choose premium funding insurance over paying insurance premiums upfront or borrowing from other sources. These include:

Conserved Cash Flow

Premium Funding frees up cash for profit-generating activities.

An Additional Line of Credit

You can borrow to cover your insurance premiums without affecting existing finance arrangements like overdrafts.

No Collateral Required for Your Assets

Security for the loan is absorbed over your insurance policies. You will not need to offer assets as collateral or make additional financial guarantees.

Flexible Payment Options

You can make your instalments in a number of ways, including by debit and credit card.

A Simple Application Process

KBI will organise quotes from trusted Premium Funding Partners. Once you pick a program, the application is simple.

Tax Deductible Interest

Your commercial insurance premiums and the interest charged on Premium Funding are both tax deductible.

Our Premium Funding Insurance Partners

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IQumulate is a Premium Finance Company with 16 years of experience. As of 2021, they provide solutions for over 60,000 businesses.

Target Market Determination (TMD): iQumulate

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Attvest Finance is an independently managed Premium Finance Company run by industry experts. Combined, their team has over 250 years of Premium Funding experience.

Target Market Determination (TMD): Attvest

Compliance

Insurance Premium Funders Code of Practice

AFIA establishes industry code for premium funders.

The Australian Finance Industry Association (AFIA) and its Insurance Premium Funding members are currently setting up an industry code for Premium Funders. All of KBI’s Premium Funding partners support the Insurance Premium Funders Code of Practice.

For more information about the Code of Practice, click here: AFIA Insurance Premium Funding Code of Practice.

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