Insurance Premium Finance

Universal Bank (UB) Premium Finance

We are seeking quality, producing insurance agents and general agents to partner with us to provide superior service and low costs to their clients while increasing their own profits and marketing share.

 

Who we are

UB Premium Finance, a division of Universal Bank, works with a network of agents and brokers, to offer insurance premium financing solutions to businesses and professionals for commercial lines of coverage.  We provide funding for the business or professional's annual insurance premium which allows the insured to make payments over time rather than having to pay the entire premium at once.
UB Premium Finance has been serving the needs of insureds, agents and brokers for 15 years. We provide an unmatched degree of service and rate advantage to our insured borrowers and broker/agent producers. 
We provide our service using a fully automated online premium finance quoting system that is available to agents and insureds 24/7. Our state of the art website also provides an array of account information to agents and insureds, as well as the ability to make online premium finance installment payments.

 

How does Insurance Premium Financing work

In order to preserve cash flow or for other economic considerations, a company or professional practitioner (an “insured”) may choose to finance the cost of their insurance coverage. After an insurance agent places coverage with an insurance company on behalf of an insured, the insured or their agent may then request that the insurance agent arrange the financing of the insurance coverage. The insured or the agent (on the insured's behalf) signs a premium finance agreement which is then submitted by the insurance agent to UB Premium Finance.  UB Premium Finance then pays the insurance premium to the insurance carrier on behalf of the insured.

 

Why Insurance Agents use UB Premium Finance

Since we are a bank with a low cost of funds; your insured does not have to pay the middleman finance company that many producers normally refer financing to.  This gives the agent a clear competitive advantage when you are seeking to provide the lowest overall cost to your client.

Our producers are our Number One customer.  We exist as an extension of your customer service and retention efforts.   Our daily goal is to exceed you and your insured’s expectations. 
While we are a leader in insurance premium finance, automated service, and personalized customer service. We go well beyond the typical premium finance company in these areas as well as provide low direct to you bank rates and flexible terms unheard of in this industry.

• Since you are dealing directly with a bank, we can easily handle even your largest financing needs at a below market rate.
• Quote, view and manage premium finance over the internet 24/7 at UBquote.com. 
• Next day funding is available when needed.
• Premium Finance programs available for agents, brokers, MGA´s and insurance companies (Private Labeling).
• Rolling Installment option for insured cash flow, competitive edge.  Call for details.
• Credit/Debit card, ACH, check by fax payment Option for clientele, will reduce likelihood of cancellation and re-writes.
• Incentives of up to 3% paid monthly on a timely basis for qualifying agent/brokers.  You have total flexibility to determine your own producer fee on each contract and/or the ones you wish to make more on. Our lower bank rates increase your potential for profit while keeping you competitive.
• Everyday we start new to go above and beyond to earn your business. We do not take you for granted nor the opportunity you are giving us to serve you and your insured's needs.

 

Why Insureds use UB Premium Finance

Improved Cash Flow

The financing of a policy eliminates the need for an insured’s lump-sum payment to the insurance company. This preservation of capital gives insureds greater control of their cash flow, preserves credit lines and improves their balance sheet.

Consolidated Insurance Payments

Multiple policies can be placed on one finance agreement providing a single payment plan for all necessary insurance coverage. Also, insurance policies that may be effective at a later date can be subsequently placed onto an existing financed account.

No Lengthy Approval Procedures

The approval process for a UB premium finance transaction is generally more streamlined than that of other secured loans and is usually completed the same day it is requested.

Lower Fixed Rates

Insured's lower their overall cost of insurance by using our low fixed bank rates.

Tax Deductible Interest on Loans

On commercial premium finance transactions, the loan interest may be a tax deductible expense. For further information, you should contact your tax advisor.

Loan Prepayment

An insured may prepay their premium finance loan at anytime. In most states, early payment will not result in additional charges beyond the interest earned until the time of prepayment.

 

Getting Started with UB Premium Finance

Call us to discuss how we can assist you to grow your business and profits.  You can email us at 
csr-ins@universalbank.com or call (626) 854-2818, ext 181.

Although we can quickly set you up using phone, email and fax we like to visit your office to discuss your general business strategy and determine your specific needs. 

During that visit our representative can set you up on our website with a user name and password.  Our representative can also train you and your staff on how to fully utilize our website (www.UBquote.com) and services.  Our representative can discuss marketing ideas with you as to how other agents are using our low bank rates to increase their profits while gaining market share.

The meeting process is quite simple and time effective. We know your time is precious and we are confident that the value we can add to your business is substantial. 

Our Insurance Premium Finance Department will take the time to thoroughly understand your business and/or your investment goals.  Appointments are available at your convenience, and representatives are available to assist you Monday through Friday, from 9:00 am to 5:00 pm.

Insurance Premium Finance Department
(626) 854-2818, ext 181

Learn more amount these products by speaking with one of our Insurance Premium Finance product experts today.

Call, or contact us by completing our Secure Contact Form.  We will respond promptly.