Benefits for Borrowers
Benefits for Agents and Brokers
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Benefits for Borrowers
Increased Cash Flow for Important Goals and Investments
- Paying for insurance over time preserves your company’s operating funds, working capital and cash reserves.
- Insurance premium financing represents an additional line of credit – one that doesn’t disturb your existing credit arrangements.
- Achieve complete insurance coverage – without large, lump-sum payments.
Improved Money Management and Financial Planning
- A financial plan tailored to your specific needs facilitates more effective accounts payable processes and reporting.
- Combining all premium financing into a single program ensures more accurate forecasting and scheduling of payments.
- The ability to amend premium finance payments to accommodate changes in coverage eliminates multiple debits.
Enhanced Accounting and Tax Advantages
- Financing may represent an off-balance sheet item (depending upon accounting standards).
- Interest on premium finance loans may be tax deductible.
A Simple, Straightforward Process
- Unlock the financial potential of your business insurance. After your insurance representative acquires coverage, s/he secures financing from AFCO CAFO, reviews the terms of the transaction, and you sign the contract. (or the agent completes the contract on your behalf). Once AFCO CAFO accepts the transaction, we pay the financed portion of the insurance premium and bill you directly for installment payments.
Benefits for Agents and Brokers
Powerful, Flexible Solutions
- Make insurance affordable for your clients
- Improve client cash flow
- Offer special financing benefits for group and association business
Increase Cash Flow
- Prompt receipt of commissions
- Reliable premium disbursements maximize investment income
Financial Benefits
- Eliminate credit expenses incurred when carrying receivables
- No recourse to your business
- No bad debt expense
Better Collections
- Administration of billings and collections transferred to us
- Professional collection practices preserve client relationships
Superior Service
- Extensive network of offices in the US and Canada provides local service
- Financing available for Lloyd’s and foreign company premiums
- Strong reputation for exceptional service
- Industry leader with decades of experience