Get peace of mind about the repayment of your business loan if you die or are disabled.
How it works
Why it’s important to have the right insurance
An owner of a company often has to provide personal security for a loan taken out by the business, and will be personally liable for the debt if the business is unable to repay the loan.
The outstanding money can also be claimed from his/her estate, at the expense of heirs and dependants. The estate may in turn claim the outstanding amount from the business or remaining owners, and the business may be forced to sell its assets should the remaining owners fail to raise funds.
The right insurance protects the business from any adverse effects as a result of death or disability of the person who stands surety for the loan, and the owner's personal assets are released from any liability on death or disability.