What does Financed Premium mean? Read on to discover the definition & meaning of the term Financed Premium - to help you better understand the language used in insurance policies.
A financed premium refers to a loan provided by a third party to a company or individual to cover the individual's insurance premiums. Often, the insurer or brokerage offer such financing options as well. Typically, the financing company would pay for premium and charge the insured on a monthly repayment plan.
We hope the you have a better understanding of the meaning of Financed Premium.