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Business Loan Protection
The loss of the person(s) who have guaranteed a loan is particularly serious for a business. Business Loan Protection helps your business pay an outstanding overdraft, loan or commercial mortgage, should the guarantor die or become terminally or critically ill.
How Does It Work ?
Business Loan Protection is life assurance (sometimes life assurance and critical illness cover) written on the life of an individual or individuals. When a valid Business Loan Protection claim is made, a sum equal to the outstanding debt could be paid to either the business or directly to the lender.
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