WHAT IT IS
Debt protection insurance gives your business full protection, if one of the people who ‘created’ the debt dies or is taken out of the business. It gives the business sufficient cash in order to repay debt and removes the possibility of the bank recalling the debt, leaving the business severely hamstrung and not able to function.
WHY YOU NEED IT
Rather than having to sell assets to repay debt or contingent liabilities, debt protection insurance provides a lump sum payment, allowing for the repayment of debt should one of the ‘creators’ of that debt dies or is taken out of the business due to sickness.
HERE'S WHAT IT PAYS FOR
Any outstanding business debts, loans or contingent liabilities.
HOW TO SET IT UP
Our advice is to always talk to one of our independent, professional insurance advisers. We’re here to ensure you have the correct cover. Having accurate information at the beginning is extremely important. The process we take will uncover vital information to help protect you at claim time.
As we don’t work for one insurance company, we offer bespoke insurance options to suit your individual needs.