To manage this risk, we can help to set up a Business Loan Protection Plan.

How it works:

  • For limited companies & limited liability partnerships:
  • A Life Cover policy or Life & Critical Illness Cover policy is set up.
  • When a claim is made, a cash sum would be paid directly to your business.
  • Your business can then use these funds to reduce or clear the company's outstanding loans or debts.
  • For partnerships:
  • Any cover policies that are set up would be placed in trust for the partners of the business.