Insurance Premium Financing
This is a Credit Facility that allows you to pay for your insurance premiums in installments over a maximum of 10 months.
Insurance Premium Financing Benefits
- Lifts the burden of lump sum insurance premium payment
- Enhances business cash flow management
- Clients can access their full insurance coverage immediately with premium financing
- Repayment periods are flexible, allowing clients to choose a schedule that suits their needs.
- Premium financing enhances customer service and provides a competitive advantage.
IPF Required Documents
Individual
- National ID copy
- PIN copy
Sole Proprietorship
- National ID copy
- Pin copy
- Certificate of Registration/Incorporation
Limited Company
- Company PIN
- ID/PIN for all directors
- Company Certificate of Incorporation
- Memorandum and Articles of Association
- Latest CR12/Annual Returns incase of change of directors
We propose a minimum of Kshs. 20,000/=, maximum of Kshs. 400,000/=.
The repayment period being from a minimum of two months to a maximum of ten months.
The rate is 2% per month.
Finance up to 100% of the premium amount.
Minimum repayment tenor of 2 months and a maximum of 10 months.
Repayments are via equal monthly installments (EMIs), payable through postdated cheques.
How Does Insurance Premium Financing Work?
Insurance Premium Finance is a short-term loan product that allows your business to spread the cost of large annual insurance premiums. We pay the cost of your insurance in one sum directly to your insurance provider and then your business repays the cost in monthly repayments over an agreed term. We provide this service over a 3-10 month period to our customers, while our financing solutions range between KES 20,000 as the minimum and KES 400,000 maximum amount.
The IPF loan involves a tripartite agreement between the customer, the insurance company (guarantor), and Mwananchi Credit Limited (financier).
How to Apply
Request a Callback
Outside of hours, request a callback for inquiries & applications.
Call our team
Mon-Fri 08.00am-6.00pm;
Sat 9.00am-5.00pm.
Visit us at our Office
Visit us at Eco Bank Towers, 10th Flr, Opp. 680 hotel.
Our Partners
About Us
Shimin Insurance Agency is licensed to carry out insurance business as an intermediary and has its headquarters at Co-op House along Haile Selassie Street, Nairobi. Through establishing partnerships with various reputable insurance companies in the industry, the Agency has developed a full banquet of innovative insurance products and services that address the insurable needs of our customers and offers these services from across our branches in Kenya.
Our Products
- Insurance Premium Financing
- Motor Vehicle Insurance
- Agriculture Insurance
- Student Accident Cover
- Group Personal Accident
- Domestic Package
- Public Liability
- Product Liability
- Directors Liability
- Professional Indemnity
- Machinery Breakdown
- Fire and Special perils
- Travel Insurance
- Marine Insurance
- Medical Insurance
- Trade Insurance