Business Loan Protection
Has your company borrowed money from the bank or from one of the co-directors or partners? Does your business have an overdraft? If so, the death of one of the co-directors or partners could cause the lender to call in the loan, often very suddenly.
The loss of a partner or co-director can have a major impact on the future of your business. It can result in financial hardship for your business and the remaining directors or partners, particularly if personal guarantees have been provided.
Business loan protection helps your business pay any outstanding borrowings such as a loan or commercial mortgage, should the person covered die or become diagnosed with a specific critical illness. Cooper Associates offers tailor-made business solutions that could help protect your business in the event of the death, or serious illness, of a key individual or business partner.