Why Use Premium Financing

  1. Why would I want to finance my insurance with IFS when the insurance company offers a free company installment plan? Unlike insurance companies, IFS offers you and your client the choice of more plans with greater flexibility.
  2. How is premium financing different from bank financing? Unlike banks, we do not require that you have a certain percentage of the premiums that you finance on deposit as "collateral". Financing premiums through IFS does not affect any existing bank credit arrangements. Our rates, which are comparable to rates in the short-term market, are competitive. The most important cost consideration is how much return your company can make with the additional working capital.
  3. Why shouldn't I simply pay the entire premium? Think of your insurance as an asset. Why pay your entire insurance premium in one lump sum when you can spread the payment throughout the year and use the additional working capital for business growth or income producing purposes? Financing premiums improves cash flow and preserves your working capital.
  4. What is the minimum premium amount required to finance on a contract? One hundred and fifty dollars ($150.00) is required for all IFS Plans except on a Continuous Plan three hundred dollars ($300.00) is required. The service charge and our monthly payments have to be a minimum of twenty dollars ($20.00) each.
  5. Isn't premium financing only for facility and hard-to-market clients? No. While we adopt a flexible approach to financing of hard-to-market clients, we finance all kind of premiums including hotel, real estate developers, neighborhood stores, trucking fleets, bridge constructions, farm assets and regular personal lines.
  6. Can IFS help with late payment cancellations? Yes. We are much more lenient than company pay plans for both late payments and NSFs. The insurance company will not be aware of late payments or NSFs. The only time the insurance company will be notified is if we have to cancel the policy for non-payment.

Call us at 1-800-565-1153 for more details or e-mail us at info@ifs-finance.com to discuss your special needs.