Insurance Premium Financing involves:

• The financing of General Insurance Premium for assets financed by Pac Lease Bhd, over the entire tenure of the HP Loan;
• The financing of Life Insurance (Entrepreneur Term Loan Assurance – ETLA & Group Personal Assurance – PA) for keyman in the companies which are our borrowers or individuals’ borrowers (For Term Loan only)

• Available to Pac Lease customers only.
• Applicable for loan provided under Non-Motor and Comprehensive-Non-Act.
• For new business premium financing only. Not applicable for renewal business.
• For the entire tenure of the HP loan only. Partial financing is not encouraged.

• No capital outlay at the beginning and on each maturity of the insurance policy during the tenure of the HP Loan.
• Peace of mind – no worries about insurance coverage throughout the tenure of the HP Loan Financing.
• Reinstatement value vs market value – in the event of total loss, customer will be paid in full based on the original sum insured.
• Ease of payment – one monthly instalment to cover both HP loan and Insurance premium.
• Competitive rates assurance – Our insurance partners shall match any lower rates offered by other Insurers for similar coverage terms.

It’s a win-win situation despite the interest charged customer will have the cash in hand to be used for other matters rather than using it for insurance renewal.

IPF offers agreed value whereas non IPF will be based on market value.    

We do not encourage customers to apply IPF partially. If any, it will be subject to the management approval.

No. IPF is applicable for various types of policies (HP Loan). As for Term Loan, it is also applicable for all policies including HPL, ETLA & GPA policy.