Premium Funding
Manage your insurance payments with premium funding
Premium funding lets you spread your insurance premium over monthly instalments instead of paying it all up front — a tailored finance package that helps your cash flow.
Ask about funding your premium
Tell us about the policy and a broker will come back to you with the options available. No obligation.
How it works
We put together a plan for your policy
Tell us which policy (or policies) you’d like to fund. We arrange a repayment plan with a premium funder based on the premium and the policy period.
You sign the funding agreement
The funder sends the agreement for you to review and sign electronically. It sets out the instalments, the interest and the dates.
The funder pays the insurer, you pay by instalments
The funder settles the premium with the insurer so your cover starts on time. Your instalments are direct-debited on the schedule you agreed.
The benefits of premium funding
One regular instalment instead of a lump sum — and the capital stays in your business.
Improved cash flow
Instalments by direct debit from your bank account or credit card, instead of one lump sum.
Generally tax deductible
Premium funding interest is generally tax deductible for a business. Speak to your accountant about your circumstances.
Typically a fixed rate
The interest rate is usually fixed for the term of the agreement, so your instalments stay the same.
Minimal paperwork
Add or renew policies with a minimum of paperwork.
Working capital retained
Your capital stays in the business until each instalment is due.
Flexible payments
Weekly, fortnightly or monthly repayment options, subject to the funder’s terms.
Is it right for your business?
Uneven cash flow
Seasonal or project-based businesses where a single annual premium lands at the wrong time.
Several policies
Combine the premiums on multiple policies into one regular instalment with one renewal date.
Capital better used elsewhere
Where stock, equipment or hiring will earn more than the cost of funding.
Before you sign
What to expect
- The funder, not KeyInsure, provides the credit. Your agreement is with them and their terms and conditions apply.
- Instalments are spread over the policy period, and a deposit is usually required at the start.
- The interest rate is typically fixed for the term and is disclosed in the agreement before you sign.
- Missed instalments can lead to the policy being cancelled, so the direct-debit dates matter.
- If a policy is cancelled early, any refund of premium is generally applied to the funding balance first.
- KeyInsure may receive a commission from the funder. This is disclosed in our Terms of Engagement.
Common questions
Is the interest tax deductible?
For a business, premium funding interest is generally tax deductible. It depends on your circumstances, so please check with your accountant.
Can I pay the balance out early?
Usually yes. Whether an early payout fee applies depends on the funder’s terms, which are set out in the agreement before you sign.
Does it need security or a credit check?
Premium funding is typically secured against the policy itself rather than other assets. The funder assesses each application under its own criteria.
Can I fund more than one policy?
Usually yes. Combining several policies into one funding agreement is among the more common reasons businesses use it.
What happens if I cancel the policy?
The policy refund is typically applied to the funding balance first. If the refund does not cover it, the remaining balance is payable to the funder.
Is it available on personal insurance?
Premium funding is mainly used for business insurance. Ask us about your particular policy and we’ll let you know what’s available.
How long does it take to set up?
Once we have your policy details, the funder can usually issue the agreement quickly, and cover isn’t held up while you sign.
Enquire about premium funding
The more you can tell us about the policy, the quicker we can come back with options. Every field except your contact details is optional.
Talk to us about premium funding
General advice only. Consider the relevant PDS & TMD before acquiring any product.