Business Loan Protection
If your business borrows money, it's understandable you will want cover to repay some or all of the loan on the death or critical illness of a shareholder, partner or key person.
Lenders may have the right to demand the business pays back any outstanding loans and this could be difficult to pay off at short notice. The loss of a key person can put immense pressure on remaining owners if there are any outstanding financial commitments.
Types of debt you can cover
- Directors loans
- Commercial loans and mortgages
- Personal guarantees
- Venture capital loans
- Overdrafts or credit cards