Business loan protection solutions

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 does business loan protection work?

The insurance product is written and accompanied to life or critical illness cover, on the life of the key person/s or shareholder/s carrying the debt. When that individual develops a critical or terminal illness (with a life expectancy under 12 months), become incapacitaed due to said illness or dies during the policy term, a valid claim can be made and the sum can be paid to the business.

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.

What are the benefits and options?

Any outstanding loans are repaid

If a business owner, Director or key person within a business dies, lenders may demand that any outstanding loans are repaid. Business loan protection helps secure the business’s viability by providing a lump sum to cover any business debts.

Peace of mind

Business Loan Protection can help to give your staff and stakeholders some peace of mind.


Get The Right Protection For You!