Business Loan Protection

Business Loan Protection is either life assurance or life assurance with critical illness cover included.

A policy is taken out on the life of a key individual or individuals so that any money due from a claim can be used to help pay towards any outstanding debt or loan.

The level of cover should reflect the amount needed to help pay the outstanding borrowings.  The policy should be set up to reflect the terms of the borrowings and could be on a level or decreasing basis.