Simplified Premium Financing from NFC
An insurance agency or agent chooses a premium finance company such as NCMIC Finance Corporation (NFC) to offer a loan program to their insureds.
When an insured needs financing to cover a majority of the cost of a policy or policies, NFC works to identify a loan option to meet their needs. Once identified, an agreement is signed, a down payment is received, and NFC pays the insurance premium to the general agent or carrier.
Funds are typically sent by electronic funds transfer (EFT). The insured then pays NFC in monthly installments over the course of the premium finance agreement.
Agency Benefits
Insureds' Benefits