Premium Finance 2008
Premium finance 2008 overview, according to our information, Credit Club in Pennsylvania was the very first premium finance company that began around 1933. However, the premium finance industry in the United States got rolling in the 1950’s with the establishment of AFCO, originally the “America Four” company, owned by four insurance companies
The following are benefits of a premium finance:
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Removing the up front lump sum payment will improved the cash flow.
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Unused capital is reinvested back into your business to create further wealth
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Additional line of credit is created, leaving existing facilities intact
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Certainty in repayment amount (fixed rate/fixed term)
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Security
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Tax deductible
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Eliminates the requirement for a large up-front payment to an insurance company.
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Funding is available on all general insurance
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Single page documentation of the premium finance
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Multiple insurance policies can be attached to a single premium finance contract, allowing for a single payment plan to cover all insurance coverage.