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1.  Complete Insurance Company Application (PAIP or Direct Appointment).

2.  Create the APFC Premium Finance Agreement using our Quotes Software.

3.  Print the completed Premium Finance Agreement.

4.  Have Insured sign and date the Premium Finance Agreement.

5.  Collect the Down Payment IN CASH as stated on the premium finance agreement, from the Insured.        

The Down Payment must be converted to a Money Order payable to PAIP for all Plan Policies or to the assigned Insurance Company if a renewal.

6.  Give Insured a copy of Premium Finance Agreement.

7.  Print the APFC Funding Draft payable to the insurance company (PAIP).

     A.  Draft Amount: 12% of the policy premium for Personal Policies. For Commercial Policies, No Draft unless needed by insurance company.

     B.  Agent staff signs the draft on the signature line.

8.  Send a copy of the Premium Finance Agreement along with APFC Funding Draft (12%) and a Money Order for 18% down payment collected from insured, attached to the Insurance Company Application, to the insurance company (PAIP).  APFC will fund the balance due the insurance company upon receipt of the Declarations Page.

9.  From the Quotes Software, SEND the finance agreement to APFC.

10.  Retain a copy of signed Premium Finance Agreement and Draft for your records.

11.  APFC upon receipt of the Premium Finance Agreement, will mail to the Insured a letter and Coupon Book advising the insured that the premium is being financed and where and when to send payments to APFC.

12.  Upon receipt of the Declarations Page from the insurance Company, the Agent must fax the Declarations Page to APFC at 800-662-8854.  APFC will fund the balance due the insurance company upon receipt of the Declarations Page.

Review all Declaration Pages or Premium Billing Notices from the insurance carrier.  If the premium is greater than the premium written on the original finance agreement, any greater amount is treated as an Additional Premium. 

In cases of Additional Premiums, follow our Additional Premium Procedures.  You must contact the Insured and get him or her to bring you the new down payment required on the uprate and have them sign an Additional Premium Finance Agreement.