Funding Your Workcover Insurance Premiums
In recent years, businesses have been dealt significant premium increases on their annual WorkCover levies. Contributing to these increases are WorkCover cost blowouts mainly resulting from increased mental health injury claims.
Did you know that there may be support available to help businesses fund their WorkCover premium over 10 monthly instalments? This approach acts to smooth the commitment and can assist with cashflow management.
Funding for the premium is sourced from major Australian financial institutions which can offer interest rate terms more attractive than that offered on the WorkCover invoice. It is important to note that there is no security pledged over real estate assets for this funding and in many cases is offered without the need for personal guarantees from the company director(s).
Assistance may also be available for funding many other insurance premiums, including, but not limited to property insurance, motor vehicle fleet insurance, cyber insurance, professional indemnity insurance, debtor insurance etc.
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Disclaimer: This information is general in nature and should not be relied on as advice. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs and seek professional advice before making any decisions based on this information.
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