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    FIRST INSURANCE FUNDING TIP SHEET


    450 Skokie Blvd., Ste 1000, Northbrook, IL 60062
    Lock Box Address for Payments: PO Box 66468, Chicago IL 60666-0468
    Phone, 800-837-3707 Fax, 888-837-2470

    Helpful Hints

    Processing:
    Agreements will be processed and funded within 24 to 48 hours of receipt, provided that the following procedures have been followed: 1. Agent and insured have signed the agreement (or in states allowed, agent has signed on behalf of the insured). 2. The agreement has been dated. 3. Payments due within 10 days of the due date are collected by the agency with the down payment. 4. Policy information completed, including: effective date, policy type, insurance company and general agent (if applicable), premium, taxes and/or fees. 5. Correct down payment (see below Standard Terms)

    Additional Premiums:
    The minimum amount financed for an additional premium is $500.00 and there must be three billable payments left on the contract.  Please call us for a quote.

    Carriers and Brokers:
    Eligible carriers must have an AM Best rating of B+5 or better. Exceptions may be made, but must be approved.  Please call us at 877-492-8843.

    Large Agreements:
    Agreements with an amount financed over $500,000 require current financial statements. Agreements over $25,000 must have the second page included in fax and for contracts over $100,000, the original must be mailed.

    How to Check an Account Online:
    Click Here

    Holding Accounts from Cancellation:
    Most accounts will cancel 20-days after the due date if not paid. In most cases, if asked, FIF will hold an account for 3-4 days or more.

    Request for Reinstatement:
    If an insured pays a cancelled account up-to-date, FIF will request reinstatement, in most cases, within 10-days from receiving the insuredís check. However, if paid with certified funds, a request to reinstate will be issued right away.

    Rate and Term Exceptions:
    We recognize that there will be instances when you will need better terms and rates. Please call 866-493-1389 and we will be happy to accommodate you.

    Standard Terms

    Standard Account (with no minimum earned provision or extended cancellations):

    20% down plus any non-refundable fees, 9 payments.

    Minimum Earned: The down payment must include all minimum earned premium plus any non-refundable fees and 9 payments.

    Extended Cancellation:

    Standard down payment, plus 5% for every 30 days of extended cancellation and 8 payments. Assigned Risk Workers Compensation: 35% down or $750, whichever is greater and 8 installments.

    Canal Insurance:

    Standard policies with out filings will require a 26% down with 9 installments, with filings the terms will be 31% down and 8 payments plus all applicable extended cancellation and/or minimum earned provisions.

    Scottsdale Insurance:

    All Scottsdale policies have at least a 25% minimum earned provision.

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