Insurance Premium Finance

Insurance Premium Finance (IPF) is a short-term credit facility that enables
the borrower to acquire financing to pay for their insurance premiums in a
lump sum and repays the bank in monthly instalments over a period not
exceeding 10 Months. The first installment is paid at onset.

The product is available to both co-op Bank account holders and non-account
holders.

IPF is workable under general insurance policies that are normally placed or
renewed for a fixed period of one year.

E.g Motor insurance, Fire & Burglary, Medical insurance, Workmens
compensation, contractors all risk e.t.c.

It excludes long term Life insurance policies.

Benefits Of Insurance Premium Financing
Customers will not pay premium in lump sum but will spread it over a period
therefore:
- It helps in preserving working capital.
- It improves the individual/organization cash flow.
- Helps the individual/organization maintain liquidity.
- Increases the organization flexibility, and in turn, more opportunity.
Insurance Premium Financing Features
- No credit appraisal (Only for amount above 5M)
- Works with most insurance companies.
- 100% finance on applicable insurance premiums.
- Simple and convenient documentation
- No hidden charges and commitment fees
- Easy application process
- Competitive rates
- Quick processing time.
- Works for all General insurance products.
- Open for individuals, corporates, co-operatives, parastatals etc.

How it works?

1.Choose an insurance for your needs
2.Fill in a simple form
3.Email us the form
4.We will get back to you

Talk To Us Today!

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