Documents: Premium Finance Agreement
Edited

What You'll Learn

  • What is a Premium Finance Agreement (PFA) document

  • How to access a PFA document

  • Frequently Asked Questions


What's a Premium Finance Agreement (PFA)?

A premium finance agreement, or PFA, is an agreement by which an insured or prospective insured agrees to pay to the amount advanced or to be advanced under the agreement to an insurer or an insurance agent or producing agent in the payment of premiums of an insurance contract, together with interest and a service charge.

The insured views the terms of a PFA during the downpayment checkout process and can download a copy at that time. Once the customer agrees and Ascend receives the customer's downpayment, the PFA is legally bound and active.

Although the signed Premium Finance Agreement is automatically generated by our system when the insured makes a purchase, agents may wish to view or save that document for their records.


How to Access the PFA Document

The PFA document can be accessed on the financed program page once the program is in Active status. The program will be active once Ascend receives the customer's downpayment. The PFA is not legally bound and active while an ACH downpayment is processed.

⚠️ Paying a downpayment by ACH (instead of by card) will extend access to the PFA doc by the 3-5 business day processing timeline. Learn more about payment method processing timelines here.


To access the PFA:

  1. Locate the relevant active program page

  2. Confirm that the program status tag next to the program title reads Active

    • If not active, see the notes above about accessing the PFA

  3. Under the Transaction Details section near the top of the page, locate the Documents row on the right side

  4. Click on the hyperlinked Signed Premium Finance Agreement

    • If you have a pop-up blocker enabled on your browser, you may need to deactivate it to access the document.


Draft PFAs

The Premium Finance Agreement is available to view and download in different places depending on the Program Status:

Program Status: Ready to Pay

  1. An unsigned version of the Premium Finance Agreement is available in the Payment options section on a newly created program when the client has not yet purchased.

  2. You will not need to download or send this document to your customer independently, as your client will have the ability to sign on checkout.


Frequently Asked Questions

Do I need to have my customer sign this?

No. The PFA is automatically signed when the customer purchases the policy through Ascend.

Do I need to submit this anywhere?

No. This document is for your records, but you must not submit this PFA to other parties.


Contact Us

Need more help? Contact us at support@useascend.com for more help.