Insurance premium financing arrangements have become a great deal more prevalent over the past few years. This is especially true for agents who work with high net worth policy holders who have a low amount of liquidity available for paying the large policy premiums that are due.
These types of premium loan agreements are a nice alternative to these wealthy individuals as they would otherwise likely need to obtain the needed cash by selling off personal or business assets.
Over time, as these types of transactions come more into the limelight, it will be necessary for insurance professionals to either move into this industry as well, or to delegate this particular responsibility to an already established expert in the premium financing field.
Why Partner with a Premium Finance Loan Company?
The reasons for insurance professionals to partner with a premium finance loan company are many. First, these firms or individuals can literally take the transaction from start to finish ? leaving you the time and flexibility to focus on your specific business.
These companies will take care of arranging all of the necessary paperwork for the financing arrangement, and oftentimes the companies will also be the actual lender of the borrowed funds as well.
Once the arrangement is in place, the premium finance loan company will often stay on board, taking on the responsibility of the ongoing duties such as making premium payments for the insured?s policy as well as billing the policy holder for the premium loan repayments.
There are a number of rules and regulations that go hand in hand with premium finance agreements. In addition, many of the requirements in one state may differ a great deal from those in another.
In any case, all persons and organizations that transact any type of insurance premium loan financing must become licensed in every state in which they conduct business. Thus, by partnering with such an entity, insurance agents and brokers may pass along this requirement to the premium financing organization.
Some of the Top Premium Finance Loan Companies in the United States
Although the premium financing niche is still relatively new and unknown to many, there are a number of top companies that are active in the industry ? and a number of these firms possess several decades of experience in the field.
While there are premium financing specialists located throughout the nation, it is typically best to work with a company or individual that is both licensed and has a location in the clients? state of residence. This way, you can be more assured that the financing arrangement will comply with the specific state?s rules. In addition, this will offer much more convenience should any in-person meetings be required with the client / policy holder.
To find your next premium financing partner, contact any the companies that are listed below. These firms can provide you with the guidance that you need, even for those hard to place deals. Help can typically be found via phone and online chat, and quotes can usually be obtained by submitting a no obligation application directly on the companies? websites.
Capital Premium Financing, Inc.
Capital Premium Financing, Inc. provides life insurance premium financing solutions for a number of different types of commercial insurance policies. It is considered to be a top rated premium finance company in the industry and its reputation makes that clear.
Established in 1988, the company has well over two decades of experience in the specific area of providing necessary cash to fund high face amount insurance plans. Recognized as a leader in the field, Capital Premium Finance can offer you the support you need to get your premium financing deals done right. For more information visit:
Capital Premium Financing, Inc.
12235 South 800 East
Draper, UT 84020
Or
2931 Kerry Forest Pkwy #103
Tallahassee, FL 32309
Customer Service / Operations: (801) 571-0775 / Toll-free: (800) 767-0705
Agency Relations / Quotes by Phone: (877) 730-1906
info@capitalpremium.net? / agencyrelations@capitalpremium.net
www.CapitalPremium.net / www.capitalpremiumfinance.com
Premium Financing Specialists, Inc.
Premium Financing Specialists, Inc., now known as Imperial PFS, offers a number of services to clients and potential borrowers. IPFS was created via the combination of both Premium Financing Specialists, Inc. and Imperial Credit Corporation, two of the strongest premium finance companies in the premium financing industry.
The firm is able to successfully provide online quoting directly from its website as well as allow access to account information, electronic signatures, and payment option ? all conveniently available on the company?s site.
In the specific premium finance arena, Premium Financing Specialists, Inc. provides direct access to premium finance loans in addition to premium finance agreements via insurance companies and agencies, as well as through general agents, for the purpose of financing commercial property and casualty insurance premium loans.
For more information on Premium Financing Specialists, Inc., go to:
Premium Financing Specialists, Inc.
Headquarters
8245 Nieman Road
Suite 100
Lenexa, KS 66214
(816) 627-0500
Arizona Premium Finance Company
Arizona Premium Finance Company specializes in financing the premiums for a wide variety of insurance policy types. Through the firm?s website, you can send an instant information request in order to obtain policy quotes as well as additional details on how to partner with the firm in getting your clients the funds that they need. For more information, visit:
Arizona Premium Finance Company
12406 N. 32nd Street
Suite 110
Phoenix, AZ 85032
Toll-free: (800) 873-2732
adminept@apfcinc.com
http://www.apfcinc.com
First Insurance Funding Corp.
First Insurance Funding Corp. is one of the largest independent insurance premium companies in the United States. The company specializes in putting together customized premium loan packages that are uniquely based upon the specific needs of each client. Even those hard to place cases may find the ideal solution with First Insurance Funding. For additional details, go to:
First Insurance Funding Corp.
P.O. Box 66468
Chicago, IL 60666-0468
Toll-free: (800) 837-3707
http://www.firstinsurancefunding.com
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