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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 insurance premium 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
Central Depository Services (CDS) accounts and services- Opening and maintenance of depository accounts
Facilitating CDS services which include immobilization, inter CDA and private transfers, creation of liens, placement agents during IPO’s and other public offers etc.
Investments in government securities (treasury bills and bonds) through primary market auctions and secondary market trades.
We also facilitating trades in corporate bonds and commercial papers;
Offshore and cross border investments in international markets through Bank One Limited in Mauritius, I&M Bank Uganda and I&M Bank Uganda;
Execution of trades through the Bank’s empaneled stock brokers at the Nairobi Securities Exchange (NSE) or Over the Counter (OTC) markets
Settlement of trades in equities, government paper, corporate debt and offshore Investments.
Corporate actions processing including interest payments & maturities, dividend collection, processing of rights & bonus issues;
Safekeeping of securities and documents;
Portfolio and compliance reporting;
Fixed & call deposits placements;
Forex conversions, Proxy services and Escrow Services
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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