Below is a list of banks and institutions that offer the best Insurance Premium Financing:

NCBA

Get feedback on your loan within 12 working hours. Organisations can use one payment plan to cover all their insurance policies.

Our IPF covers:

• Fire and perils
• Motor insurance – Commercial or Private
• Workmen injury benefit (WIBA)
• Burglary
• Medical Insurance
• Contractors all risks
• Group Life

Equity Bank

Application requirements

• A duly completed Insurance Premium Financing application form
• For Individuals: Copies of your Identification card and PIN certificate
• For Limited Companies: CR 12 and a duly signed company resolution

Benefits you receive

• Flexible, affordable monthly repayment  (6–10 months)
• 100% financing of the premium
• No security is needed – it’s easy and accessible

Repayment period

• Medical Insurance Premiums – 6 months
• Non-medical Insurance Premiums – 10 months

NCBA Bank

Product Summary

 

Stanbic Bank Insurance Premium Finance is a facility that eases the burden of paying your insurance premiums. With this facility, paying for large insurance premiums is easy, simple and affordable.

 

Features

 

• You pay your annual premiums in monthly instalments instead of one large lump sum payment

 

• Flexible financing terms of up to 10 months

 

• Interest rates linked to base rate and charged on a reducing balance

 

Benefits

 

• Easy application process.

 

• Competitive interest rates

 

• Quick processing time.

 

• Renewal of all insurance covers on one anniversary date.

 

• Pricing-subject to loan amount and tenor

 

Eligibility Criteria/Target Market

 

This product is available to both Individuals and Business Clients

 

Documentation Criteria

 

A customer accessing this product is required to meet the Bank’s “Know Your Customer (KYC)” standards and provide the requisite documentation. For a complete list of the KYC documentation, please refer to the Business Banker or your Relationship Manager.

 

Accessing this Product

 

1. Individuals

 

• Copy of ID and PIN

 

• Cheques to cover repayments depending on the number of months

 

• If existing – client to sign standing order

 

• If in Business – Copy of registration Certificate

 

1. Companies

 

• Memo and Articles of association

 

• Certificate of incorporation

 

• Company PIN

 

• Copy of ID and PIN of directors

 

• Cheques to cover repayments depending on the number of months

 

• If existing – client to sign standing order

 

1. Other entities like groups, Saccos

 

• Copy of constitution or By laws

 

• Borrowing clause

 

• Minutes authorising borrowing

 

• Copy of ID and PIN of Authorised signatories

Fees and Charges

Pricing-pegged to tenure and loan amount to be financed.

Key Product risk

All products are prone to price fluctuations in line with market forces.

Rights and Obligations of the Parties

These are available on the Stanbic Bank Kenya website or through your nearest Stanbic Branch, Universal Banker or your Relationship Manager.

Diamond Trust Bank(DTB)

Features

• Purpose – to facilitate the financing of insurance premiums
• Currency – LCY / FCY
• Security – Tripartite agreement duly signed by insured, the insurer and the bank
• Repayment period (loan period) – maximum of 48 months
• Interest rate – prevailing market rate
• Minimum IPF amount – Kshs 20,000

Requirements

• Individuals / sole proprietors / partnerships
  • National identity card / passport / KRA PIN certificate of individual borrowers – ‘original and copy’
  • Certificate of registration (if proprietor or partnership) / business PIN
  • First current cheque /installment
  • Post-dated cheques
• Companies
  • National identity card / passport / KRA PIN certificate of borrowers – ‘original and copy’
  • Certificate of incorporation / business PIN
  • First current cheque
  • Post-dated cheques

HF Group

Insurance Premium Finance

Features & Benefits

• Finance up to 100% of the premium amount
• Immediate access to annual insurance cover
• Flexible repayment periods for the insurance premium

Requirements

• Duly completed application form which includes the IPF agreement
• Copy of National ID/PIN for individual applicants

I&M Bank

Examples of such Insurance policies:

• Fire and perils
• Motor Commercial or Private
• Industrial All Risk
• Workmen’s compensation
• Burglary

• Golfers policy
• Contractors all-risk policy
• Professional Indemnity Cover
• Medical Insurance premiums

Benefits

• 100% finance on applicable insurance premiums.
• Convenient and simple documentation
• No credit appraisal
• No hidden charges and commitment fees
• Reliable flow management tool
• Easy application process
• Quick turnaround time
• Competitive pricing

Additional Details

Application Requirements

• Duly completed application form
• Executed Insurance Premium Finance Agreement endorsed by the insurance company (the insurance company underwriting the policies must however be approved by I&M Bank)
• Copy of National ID and PIN for individual applicants
• Copy of Certificate of Incorporation/ Certificate of Registration for business entities
• Company PIN

Kingdom Bank

Loan Amount:Open

Loan term:Maximum period of 10 months

Security and Collateral

• Guarantee and Indemnity by the Insurance Company
• Signed Insurance Premium Financing tri-partite agreement
• One current cheque and Post Dated Cheques

Bank of Baroda

Insurance Premium Finance (IPF) : Key Features

The following are the features of the Insurance Premium Finance Product:

1.	Eligibility	Individuals, limited companies, engaged in manufacturing / trading and other activities not prohibited by law. In case of Traders, the business should have been established preferably for more than –1- year.
2.	Purpose	For payment of premium to insurance companies on behalf of borrowers for covering insurance of machineries and other assets or other insurance covers. The insurance companies (life and non-life) must be bank approved as well as IRA approved insurance companies. The Bank considers top 10 insurance companies as rated IRA. The list will be provided on quarterly basis. Insurance company not in the top 10 list may be considered by the Managing Director on case-to-case basis.
3.	Limit	100% of annual insurance premium payable
4.	Rate of interest	Flat Rate on principal as per Schedule attached
5.	Method of Calculation of Interest	At the Flat Rate on Principal.
6.	Repayment	Loan to be repaid in equal monthly installments within a maximum period of –10- monthly Installments. Post dated Cheques to be provided by borrower for 10 installments (assuming loan is taken for maximum period) with one upfront payment made before at the time of disbursement of facility.
7.	Security/ Documents	Loan application duly filled. 9 postdated cheques (or cheques equivalent to no of proposed installments including one current cheque) plus one current cheque for the upfront installment. Tripartite Agreement amongst the Bank, the borrower and the Insurance Company dully executed.

SBM Bank

Eligibility / Documents Required

• Duly executed IPF forms signed and stamped by the customer and underwriter.
• Applicant must demonstrate ability to repay loan
• Should have a good credit score on CRB
• A deposit of funds equivalent to the first instalment is required

Talk to Us

Top of Form

Your name

Phone number

+254

Email

Location

Bottom of Form

Rates & Fees

• Interest rate – Bank base rate + 4%p.a.

Bank of Africa

Flexible Insurance Payments, Hassle-Free Coverage

Insurance Premium Financing (IPF) allows SMEs and salaried individuals to spread their insurance premium payments into manageable monthly installments, ensuring continuous coverage without upfront financial strain.

Who Can Apply?

• SMEs – Businesses needing insurance for assets, liability, or other general coverage.
• Salaried Individuals – Those financing personal insurance (e.g., motor, health, property).

Key Features

Flexible Payments – Repay in equated monthly installments (EMIs) over up to 10 months.

Direct Payment to Insurer – Loan proceeds go directly to the insurance company.

Loan Amount – From KES 20,000, with the maximum based on repayment ability.

Requirements

• Completed IPF loan application/agreement form.
• Risk Note from an approved insurer or broker.
• Proof of the first installment in your operating account.

Faulu Microfinance

What’s in it for you?

• To support individual and SMEs to pay Insurance Premium with reputable Insurance companies at affordable instalments
• Flexible tenure of up to 10 Months
• You can apply for a minimum of KES. 3,000

How do I apply?

Individuals, Sole Proprietors and Partnerships

• Duly completed credit facility application form
• PIN certificate and National I.D. (original and copy)
• Certificate of Registration (in case of registered enterprise/sole proprietorship and partnerships)
• Applicant to open an account with Faulu Microfinance Bank

Limited Liability Companies

• Duly completed credit facility application form
• Resolution to borrow by the company directors
• Certificate of incorporation
• PIN certificate and National I.D. (original and copy) of all directors
• PIN Certificate of the Company
• A copy of Memorandum & Articles of Association
• Applicant to open an account through Faulu Microfinance Bank

Paramount Bank

Features & Benefits

• 10 months term loan
• Easy and affordable equated monthly installments
• Repayment is on installment date
• Flat rate interest collected upfront
• Available for both Individuals and Companies

M Oriental Bank

Features:

• Lending to persons or companies to cover the cost of an insurance premium.
• Competitive interest rates.
• Post-dated cheques held as security.

Prime Bank

Features

• Insurance Premium finance is here to assist you pay your Insurance premium in monthly installments.
• Access a large range of Insurance covers from our pool of Insurance Service agencies.
• Our product covers from individuals to large corporates and covers all Insurance classes including Health Cover.
• Flexible and competitive rates.
• Processing fee of 1%.
• No appraisal fee
• No early repayment penalties
• Maximum tenure of 10 months

Cooperative Bank Kenya

Insurance Premium Finance (IPF)

Insurance Premium Finance (IPF) is a short-term credit facility that enables
the borrower to acquire financing to pay for their insurance premiums in a
lump sum and repays the bank in monthly instalments over a period not
exceeding 10 Months. The first installment is paid at onset.

The product is available to both co-op Bank account holders and non-account
holders.

IPF is workable under general insurance policies that are normally placed or
renewed for a fixed period of one year.

E.g Motor insurance, Fire & Burglary, Medical insurance, Workmens
compensation, contractors all risk e.t.c.

It excludes long term Life insurance policies.

Benefits Of Insurance Premium Financing

Customers will not pay premium in lump sum but will spread it over a period
therefore:

• It helps in preserving working capital.
• It improves the individual/organization cash flow.
• Helps the individual/organization maintain liquidity.
• Increases the organization flexibility, and in turn, more opportunity.

Insurance Premium Financing Features

• No credit appraisal (Only for amount above 5M)
• Works with most insurance companies.
• 100% finance on applicable insurance premiums.
• Simple and convenient documentation
• No hidden charges and commitment fees
• Easy application process
• Competitive rates
• Quick processing time.
• Works for all General insurance products.
• Open for individuals, corporates, co-operatives, parastatals etc.