Loan Protection
This insurance product helps you pay your outstanding overdraft, loan or commercial mortgage, in the event of a diagnosis of a terminal illness with a life expectancy of less than 12 months, a critical illness, or in the event of your death during the term of your policy.
How can we help?
Choosing the right loan protection can be a difficult journey, with so much to compare. That’s why we are committed to guiding you and helping you make the right decision.
Loan protection is based on your financial situation such as your current employment situation, annual salary, desired level of cover and any other personal details that can affect your loan protection. We will take the time to assess all these factors is an essential step in choosing the right loan protection because we know that understanding how your loan protection policy affects you in all areas is important.
With our financial expertise, we will do our research, assess your unique situation, and spend our time evaluating the best terms, rates, and loan plans for you.
We will explain all financial aspects of your loan protection, including monthly costs, duration of repayments, all terms, and conditions and all your options, based on your specific needs, requirements and budget.
We want to make sure you protect your loan and ensure that you are offered the right loan protection policies with the benefits and conditions that best applies to you.
What is Loan Protection insurance?
Loan protection insurance covers your mortgage loan repayments if you lose your job or can no longer work due to an accident or illness. Having the right loan protection in place safeguards you from missing repayments, which can lead to financial and further difficulties.
What can the claimed sum be used for?
In the event of a valid claim, any money due can be used towards paying off an outstanding debt or loan related to the business, including; an outstanding overdraft, an outstanding loan or a commercial mortgage.
What if I am one of a number of shareholders of the business?
Where the business is a partnership, the policy will be written on an own life basis and may be placed in Trust for the other partners. After a claim is made, the sum will be paid to the business.