Gallivan Magee & Associates Pty Ltd Insurance Brokers & Risk Management Consultants

Premium Funding / Premium Finance

Maintaining cash flow in your business is no doubt the prime objective in planning for future growth.

Insurance premiums are often one of the largest lump sum payments that can effect the cash flow of any business. These lump sum payments force business to direct capital away from other investments which may be vital to the future of that business.

Through our premium finance facility your insurance premiums can now be spread over monthly payments throughout the year.

What is Insurance Premium Finance?

Insurance premium finance is similar to leasing. The same cash flow management principals hold true for insurance premiums as they do with leasing. Insurance premium financing simply allows individuals and businesses to spread insurance costs over an extended period.

These are the benefits to you

  • Working Capital - retention of funds in the business working for you rather than a loss of funds outright from which no return is available.
  • Cash Flow - ability to regulate the spread of outgoings to a level to suit your business commitments.
  • No Additional Guarantees - security is taken over the insurance policies. Thus no additional guarantees are required. Assets are left free for other business needs. Only in exceptional cases will security be required.
  • Alternate Credit Facility - premium financing is one further form of credit available to your business.
  • Tax Deduction- instalments are tax deductible.

Importantly, documentation is simple and straight forward.

Should you wish to discuss this facility further we would welcome the opportunity to assist.

Please also note that in the arrangement of this Premium Funding / Premium Finance it is treated by us as a service to Wholesale / Business Clients (and some select Retail clients).

We can arrange competitive Premium Funding Alternatives for these clients however please be aware that normal costs associated with finance contracts generally apply. We do receive commission for arranging these contracts however it is mainly an offset against administrative costs involved. It is our policy to only engage in activities that suit our clients’ needs and attempt to avoid potential conflicts of interests. Funding is a service and benefit to clients.