Policyholders make down payments through DocuSign.
Last Updated 4/22/24
Down payments can be made through different methods, depending on the premium finance company involved:
If the policyholder's Premium Finance Agreement is funded by First Insurance Funding or Honor Capital, they will receive the down payment link with their DocuSign policy documents and will need to follow that link to make their down payment.
You can view the policyholder's experience in this short video.
Down payments should be submitted in full, and commissions will be paid once the policy is funded, which typically takes about 45-60 days.
If a policyholder wants to make a larger down payment than the terms set in the premium finance agreement, they may do so by contacting the finance company directly.
- In the event that a down payment is returned, a replacement payment cannot be made and the policy is subject to flat cancellation.
Pro tip: monitoring the status of loans on behalf of your clients keeps you in the loop on the billing activity. Learn how to access premium finance companies’ portals here.