Category: Insurance


How does Insurance Premium Financing work?

Are you looking for a way to finance your insurance policy but not sure which way to go? With all the confusing insurance lingo, we’re here to help you sift through the jargon and make an informed decision. Let’s begin with the basics. 

 What is insurance premium financing? 

 Simply put, this is a loan deliberated to facilitate financing of monthly insurance premiums. Often provided by a third party, it is an agreement between the client, the insurance company and the bank. It is a contract or a promissory note and as with any other loan, the lender will charge interest. Insurance premium financing is recommended and useful for high net worth individuals. 

 What do you need? 

 With an easy application process, individuals and businesses can apply for financing. These are the general requirements: 

 Proof of age. You must be a Kenyan who is over 18 years but not older than 75 years. Your ID is sufficient. 

 Proof of monthly income. Your pay slips of three to six consecutive months for employed individuals is needed.  

 For business owners and corporations, proof of registration of business, copy of company PIN and copy of Memorandum and Articles of Association is required. 

 An invoice or quotation from your insurance agent. 

 A completed and signed application form which must include the premium financing agreement. 

 Benefits of premium financing 

 The tedious burden of paying a lump sum is relieved by the bank. The bank ensures the insurance payment is made monthly on your behalf. You can then put your focus on growing your business. 

 The payment options are flexible and versatile. There’s an open door for negotiating the terms of the loan. Adjustments may be made to suit individual needs. 

 Some banks can finance upto 100% of the insurance premium. Installments should be paid in equal amounts monthly. 

 Unlike other loans, collateral is not required. Proof of income or business is enough to secure funding. 

 Takes 24 hours for loan approval. As long as all required documentation is presented, there are usually little to no delays to kick off the financing process. 

 Competitive interest rates. Due diligence on the part of the client is vital here. 

 Premium financing is a short term loan. In less than a year it should have been completely paid off. You don’t have to worry about servicing a loan for years. 

 No commitment fee is required. This therefore guarantees a seamless process from application all the way to approval. 

 The client is cushioned. The insurance company isn’t informed if client installments are late. But only if the client defaults and the policy has to be cancelled. 


 Maybe you’re worrying about having to liquidate assets or you’re attempting to work out a way to update the present terms of your insurance. Whatever the case, subscribing to insurance financing premium solutions will take a load off your plate. The choices are endless. 

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Reasons for enrolment of the Online Insurance Broker Training

Online training is virtual tutorial support that is available for distant learners. Various platforms design an Online Insurance broker training that has gone through thorough research. All topics studied by learners are broken down into modules that enhance the understanding of each lesson. Once you purchase the course, you get 1-year access with tutorial support. This article will focus on an overview of the training. 

Reasons for enrolment of the Online Insurance Broker Training  

  • Learning materials for the course include visual elements and engaging voiceover. 
  • Each student gets tutor support from Monday to Friday. 
  • The student is eligible for an Endorsed certificate after completing the course. 
  • There is 24/7 access to course content for a year. 
  • A platform provides assessments and instant results after studying the course. 
  • You can complete the course without too much supervision. 

Course Description 

The course has 11 modules which include: 

  • Insurance Industry 
  • The UK Insurance Industry 
  • Principles of Insurance 
  • General Insurance 
  • Personal Lines Insurance 
  • Commercial Lines Insurance 
  • Liability Insurance 
  • Marine Insurance 
  • Life Insurance 
  • Insurance Fraud 
  • Underwriting Process 

Immediately you complete one module, you are required to take an assessment which will be evaluated by your tutor and the scores displayed on your screen. Your pass mark is 60% per module. 

After completing all modules, you need to order an endorsed certificate as proof of your achievement. A hard copy is created, and you are required to complete a certain payment for the certificate to be mailed to you. 

Who studies this course? 

Learners taking this course include: 

  • Job seekers 
  • People working in this field and need to polish their skills 
  • Recent graduates 
  • Students 
  • Anyone interested in the topic of study 

Requirements for enrolment 

There is no specific qualification needed to enrol in training institutions for the course. To start online insurance broker training, you need a stable internet connection for you to study in the comfort of your home. 

Learners should be above 16 years old, willing to learn with passion, and have literacy learning skills. 

Career Choice 

Once you complete your training successfully, you may get referrals from Insurance companies as an insurance broker or any relevant occupation. Training for this course will help you get an employment opportunity in any relevant field. It also enhances eligibility and competency for promotions.  


Online insurance broker training is available in various platforms which provide educational support to its learners for a full year. The course description outlines the modules a learner has to learn and assessment details displayed on his/her screen. The learner can do training for the course with the right attitude, passion, and stable internet connection. 

Online training here :-

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