Business Loan Protection

Business Loan Protection

Following the death of a key person, your business can be thrown into financial difficulties. One of these issues could be being unable to repay loans – which can put the whole business into jeopardy.

Business loan protection insurance can help you repay the loans, including but not limited to:

  • Commercial loans and mortgages;
  • Venture capital loans;
  • Directors’ loans; and
  • Personal guarantees.

It acts as a life assurance policy or a life assurance and critical illness cover policy and it is taken out on the life of a key person within your business, when a valid claim is made a lump sum is paid to help repay a debt. This type of cover can be taken out for numerous people within the business.

Before arranging cover there are numerous factors that need to be understood, such as individual liability regarding the terms of the loan, at First Financial Solutions in Neath we have a group of experienced advisers who will make sure we completely understand your business and its situation; we will use this to find you the perfect cover for your needs at the best price.

Once the policy is selected we’ll help you to fill out the paperwork and ensure no mistakes are made in the protection of your business.

For further details, speak to a member of the First Financial Solutions Team on 01639 262222 or contact us directly via email.

 

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