Business Loan Cover

What is Business Loan Protection?

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In business, nothing is more tragic or shocking than the death of anyone involved in the running of your company. And if that person is the owner or Director, there can be a whole range of effects that impacts everyone in your business, from the shareholders to the employees.

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Our Business Loan Cover protects your company in the sad event that your business’s owner dies or becomes critically ill. It provides a lump sum to settle any outstanding loans that may be owed by the company. 

Why is Business Loan Cover important?

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Business Loan Cover is a type of insurance that provides a lump sum to lenders to cover a loan that is owed in the event that the Business Owner passes away or becomes critically ill. It helps because if a business owner dies or suffers a severe illness, lenders may have the right to demand that any outstanding loans are paid back. This could be seriously difficult on short notice and affect a business’s financial situation.

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Business Loan Cover also covers loans given to the business by the Owner who has passed away. Not many people realise that if you lend money to your own business and then pass away, that loan is immediately repayable to your estate. Business Loan Cover protects your company in the event that you pass away before your business repays your loan.

Not sure if Business Loan Cover is for you?

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If you are not sure whether you need Business Loan Cover, then talk to us. Our team are qualified to recommend the best insurance products for you and can build tailor-made solutions for your business protection needs. 

In addition, our Client Success Managers are on hand from your first call and throughout your partnership with us to provide personalised care and support. We are at the end of a call whenever you need us, and can help with setting up your scheme.