Business Loan Protection
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.