Monthly Payments Options

Instead of paying a single lump sum premium at the beginning of your policy year, you have the option of spreading out the premium payments via installments.

This facility is known as Premium Funding.

What Are The Benefits?

Simply put – Cash Flow! Because you only pay in installments, you can keep more money in your business on a monthly basis rather than paying a large lump sum up front for all your insurances.

Funding at a glance:

  • Minimal impact on cash flow
  • Tax deductibility
  • Off balance sheet
  • Guaranteed finance *

*Conditions apply

How it Works

A Premium Funding (Finance) company pays your premium to the insurer on your behalf. Then you simply remit the premium to the funding company via monthly installments.

How Many Monthly Installments Can I Have?

As few as three or as many as twelve. Most people spread their premium over ten installments as the best option.

Does it Cost More to Use Premium Funding?

Using premium funding works out more overall and the first installment includes a small set up fee. The interest component charged by the premium funding company for the service is usually around eleven percent.

How Can I Set Up A Premium Funding Facility?

Your Coastsure representative will automatically offer you a Premium Funding Option with every insurance cover you arrange. We take care of all the paperwork and you only need to nominate the account you want to use for your monthly installments.