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Insurance Premium Financing
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Insurance Premium Financing
A short-term credit facility that enables the client to pay the insurance premiums in easy installments of up to 10 months. The product is available to both I&M Bank account holders and non-account holders. IPF is workable under general insurance policies that are normally placed or renewed for a fixed period of one year. It excludes Life insurance policies.
Examples of such Insurance policies:
- Fire and perils
- Motor Commercial or Private
- Industrial All Risk
- Workmen’s compensation
- Burglary
- Golfers policy
- Contractors all-risk policy
- Professional Indemnity Cover
- Medical Insurance premiums
Benefits
100% finance on applicable insurance premiums.
Convenient and simple documentation
No credit appraisal
No hidden charges and commitment fees
Reliable flow management tool
Easy application process
Quick turnaround time
Competitive pricing
Additional Details
Duly completed application form
Executed Insurance Premium Finance Agreement endorsed by the insurance company (the insurance company underwriting the policies must however be approved by I&M Bank)
Copy of National ID and PIN for individual applicants
Copy of Certificate of Incorporation/ Certificate of Registration for business entities
Company PIN
Want Insurance Premium Financing?
For more information contact your Relationship Manager or Customer Service representative or Email us at [email protected] or call 0719 088 264/269
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