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Business Loan Insurance

Business Loan Protection is designed to help a business pay any outstanding borrowings such as loans. Overdrafts or a commercial mortgage, should the person covered die or become diagnosed with a critical illness.

The policy premiums are pairs for by the business. It is set up to reflect the terms of borrowing and can be either on a level term or decreasing term plan.

Being unable to repay loans can be a serious problem for a business following the death of a key person.

Case Study

The case study below illustrates some practical advantages by having relevant life cover and the potential tax savings:

Clean Ltd is a dry-cleaning business in Thame
The managing director George plans to extend his business by opening a shoe repair shop next door.
In order to achieve this George needs to borrow £100,000 from a bank.

As part of the loan agreement he signs a guaranteed using the family home as security.
ABC Bank gives George £100,000 and if he suddenly dies the life assurance proceeds of £100,000 are given back to ABC Bank and the loan is then paid off.

Read more....

RELEVANT LIFE KEY PERSON INSURANCE SHAREHOLDER PROTECTION

You can choose how Bright Money Independent Ltd are paid for mortgages; typically we do not charge however, you can pay a fee, usually 1% of the loan amount,
in cases that more work is required we may agree a fee upfront before any work is undertaken.
For Equity Release we are typically paid by the lender, however we offer a fee only service which is 1.5% of the loan amount.
Trading Address - 5a Cornmarket, Thame, Oxfordshire, OX9 3DX
For protection insurance we offer products from a limited panel of providers
For buildings and contents insurance and accident sickness & unemployment insurance we offer products from a selected panel of providers.
Registered Address - Coleridge House, 5-7A Park Street, Slough, SL1 1PE | Registered in England No 07801150