Save on your Workcover Premium!
Today’s tip comes from Troy Joubert at Insurance Advisernet. If you have a Workcover premium of $50,000 or more, and you're paying your premiums monthly through Workcover, you can save over $1,000 annually using a premium funding loan. The premium funder pays your annual workcover premium, taking advantage of the upfront payment discount, then the premium funding loan is repaid with monthly instalments, with the interest cost being less than the discount you receive, you win!
Another benefit is that If you miss a monthly payment to WorkCover QLD, the balance of your annual premium will be payable immediately in full and late penalties could be applied.
Talk to your advisor or get in touch with Troy to find out more – your premium funding must be in place before the 1st August 2019.
