Premium Credit is a product designed to assist the ensuring public to pay their annual premium upfront without the burden of having to make huge lump-sum payments. In this way, one can have insurance cover in place, and the luxury of making structured affordable monthly payments without incurring cash flow difficulties.
Remember, you will only receive messages for transactions on accounts that belong to you. If you access an account via a link or mandate, this service will not apply.
By using the Premium Credit plan to pay your insurance premium, you avoid having to make lump-sum payments.
Multiple policies can be placed on one finance arrangement providing a single payment plan.
Your annual percentage rate stays the same for the duration of the premium finance plan.
We have the authority to cancel the financed insurance policy in the event that the insured defaults in making scheduled payments.
This is the beauty of Premium Credit that the security is the unexpired premium that can be claimed back in the event of non-payment by the insured.
Premium Credit offers an option to repay the loan advanced in monthly installments over a period of 10 to 12 months.
The method of payment is strictly by debit order. You pay back a monthly fixed premium, convenientlydeducted via direct debit.
The policy can be reinstated where the insurer has not yet refunded the unexpired premium to you, otherwise we will enter into a new agreement.