About Insurance Premium Finance
The goal of premium financing is to alleviate a financial burden for business owners and to provide insurance agencies a catalyst to reach a broader audience with a specific need.
How Does Insurance Premium Financing Work?
Insurance agents partner with Pelican Premium Finance to offer financing to their commercial business clients. Clients in need of financing to cover an insurance policy or multiple policies will sign an agreement with Pelican Premium Finance. Based on that agreement, the client will submit a down payment and Pelican Premium Finance pays the remainder of the premium amount. The client will then make payments on the loan to Pelican Premium Finance, as stated in the loan agreement.
Helping Insurance Agents Navigate Insurance Premium Financing
Frequently Asked Questions
Q. How can Pelican Premium benefit my insurance business?
A. Pelican Premium finances insurance premiums. We provide your clients with affordable and easy monthly payments so that you can sell more insurance policies.
Q. What is the price range of the policies financed?
A. We finance premiums from $500 to $50,000, for both personal and commercial lines. Many of our competitors only finance personal or commercial lines and also have established minimums.
Q. What is the down payment for insurance premium financing?
A. Pelican Premium finances premiums with flexible down payment requirements and repayment terms.
Q. How does the insured make loan payments to Pelican Premium?
A. Payments can be made several ways:
-
- Check sent by regular mail
- Check images, sent by fax or email
- Credit Card by phone or via our website (coming soon)
- Auto EFT debit from your client’s checking account
Q. What if an insured misses their due date for payment?
A. Pelican Premium takes extra steps to prevent policy cancellation:
-
- Late and cancellation notices are sent to the insured by regular mail AND by email
- Text messages and emails are sent to the insured regarding pending cancellation
- Flexible due dates and cancellation holds are available
- Daily late, initial and final cancellation lists are emailed to the agent
- Payment status is available to the agent & insured on our website
- Personalized emails are sent to the agent prior to cancellation with additional hold information
Q. How do customers and agents access their loan information?
A. Our sales and support staff can be reached Monday through Friday between the hours of 9 to 5 CST.
Q. What options are available for payment notices to the insured?
A. Notices are sent to the insured in several ways:
-
- Invoices and other notices by regular mail
- Invoices and other notices by email
- Text messages
- Payment coupon booklets by regular mail
Q. How does an insurance agent sign up to do business with Pelican Premium?
A. Just contact Pelican Premium via the Get in touch tab at the top of the screen or call us at 337-278-5645.
Happy Customers
Send a Message
Contact Information
For more information on Pelican Premium please contact us at info@pelicanpremium.com or fill in your contact information below.
At no cost to you, we will gladly assist you by reviewing your existing insurance coverage; discussing available options, and helping you implement the optimal insurance structure to address your needs.
Call: (337) 278-5645
Email: info@pelicanpremium.com
Mail: PO Box 756, Maurice, LA. 70555
