Have you ever noticed how paying for things in instalments makes life easier? To repay a loan or settle an account a little at a time certainly eases the strain on your cash flow and frees up funds for other purposes. The corporate world has long since recognised that cash flow is essential to business survival, and this is no different when it comes to your personal finances.
For example, the prospect of paying an annual insurance premium in one hit can be daunting, particularly if the due date coincides with other bills or large expenses. However, a premium funding option can make life a lot easier and help ensure your cash flow won’t feel the pinch.
How does premium funding work?
Essentially, Principal Finance will pay the premium on your behalf and then you repay us in easy instalments which makes balancing your budget a lot easier.
Application
Applications for premium funding are typically made through your insurance broker. Ask them to send you a Principal Finance funding application with the necessary details completed. When you receive it, you simply read and then sign the application and return it to your broker.
If you do not use a broker for your insurance needs or if your broker doesn’t offer funding through Principal Finance, we are happy for you to contact us and we will assist you with a funding application.
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