Business Loan Protection?

What is Business Loan Protection?

Business Loan Protection can help businesses pay an outstanding overdraft, loan or commercial mortgage, should a key person die or be diagnosed with a specified critical illness (if chosen) during the length of the policy. It can also pay out on a diagnosis of terminal illness if the definition is met.

censorship-610101_960_720

How does Business Loan Protection work?


Business Loan Protection is a life assurance policy or a life assurance and critical illness cover policy. It can be taken out on the life of a person within your business. When a valid business loan protection claim is made a sum is paid to help repay an outstanding debt.

 

Why consider Business Loan Protection?


Being unable to repay loans can be a serious problem for a business following the death of a key person. For instance, Director loan accounts should be paid off on death – without business loan protection, where would this money come from?

If your business has outstanding borrowings such as a loan, commercial mortgage or director loan account then Business Loan Protection could help you!

“Business Loan Protection helps businesses pay an outstanding overdraft, loan or commercial mortgage, should a key person die or suffer from a specified critical illness (if chosen) during the length of the policy.”

Want to Know more about Business Loan Protection?

Please feel free to book a free consultation with a specialist today.

If you are interested in booking a free consultation in order to discuss how Business Loan Protection Cover can protect your business please get in touch?

Other Business Protection Products available from The Business Protection Company

business-1839191_960_720

Key Person Cover

Key Person Cover, or Key Man Insurance is a business insuring itself against the financial loss it would suffer if a key person in their business died or had a critical illness.

Read More

entrepreneur-593362_960_720

Shareholder or Partnership Protection

Share Protection allows the remaining partners, shareholding directors or members to remain in control of the business following the death of a business owner.

Read More

Business Wills

A business will is an agreement that usually takes the form of a buy and sell option.  It ensures the smooth transition of ownership of a business on the event of death, total and permanent disablement or trauma of an owner.

Read More

Relevant Life Plan

A Relevant Life Plan is a term assurance plan available to employers to provide an individual death in service benefit for an employee. It is designed to pay a lump sum if the employee dies whilst employed during the length of the policy.

Read More

*Please note for these insurance products terms and conditions apply. This information is a summary only. You will receive a full policy document upon application. This policy will set out the terms, conditions and limitations of cover provided under the plan.