Business loan protection, so debts don’t outlive you.
Loans, overdrafts and asset finance are often personally guaranteed by directors. If a director died or fell seriously ill, the lender could call them in. Business loan protection clears the debt instead.
Life and critical illness cover sized to the business’s borrowing, so loans are repaid and personal guarantees don’t fall on your family.
Is it right for you?
Directors who’ve signed personal guarantees
Businesses with commercial mortgages, loans or asset finance
Companies taking on new borrowing to grow
How it works
Cover is set up to match the outstanding debt and term. If a covered person dies or has a covered critical illness, the payout is used to repay the lender.
Protecting the family
Where a director has given a personal guarantee, the policy can be arranged so their family isn’t left facing the debt.
Keeping pace
As borrowing changes, cover should too. We’ll review it whenever you refinance or take on new lending.
The choices, explained.
There’s no single right answer. These are the decisions we’ll go through with you, so you understand exactly what you’re buying.
Level cover
Stays fixed, ideal for overdrafts and interest-only borrowing.
Decreasing cover
Reduces in line with a repayment loan, at lower cost.
Critical illness
Clears the debt on diagnosis of a covered serious illness.
Guarantee protection
Arranged so a personal guarantee is cleared for the director’s family.
A growing logistics business
The company took a £250,000 loan to buy vehicles, with both directors giving personal guarantees.
We arranged decreasing life and critical illness cover matching the loan, so the debt would be cleared rather than falling on either director’s family.
An illustration of how this cover can work, not a real client. Your own recommendation will depend on your circumstances.
Business loan protection: your questions.
Can’t see yours? Call us, we’re happy to talk it through.
All FAQsDoes the lender insist on this?
Some do as a condition of lending. Even when they don’t, it can protect you and your family from personal guarantees.
Who owns the policy?
It can be the business or the individual, depending on the debt and the guarantee. We’ll explain which works best.
Can it cover more than one loan?
Yes. We can cover several debts in one plan or set up separate policies to match their terms.
Ready to talk it through?
No call centres, no scripts. Just a real person who’ll listen, explain your options in plain English and help you decide.