Have you considered business loan protection?
Many people overlook business loan protection, but have you thought about what would happen if your family was left with the burden of having to repay your business loan?
It is universally acknowledged that those in positions of responsibility are usually well advised to protect those under their wing with life insurance.
Having quality life insurance arrangements in place can provide you with much needed financial protection for either a family or indeed a business during times of crisis; this could be death or a severe or terminal illness diagnosis.
You may have a business loan in place right now.
Why is business loan protection important?
You may have been required to provide the lender with a personal guarantee in order to secure this finance, perhaps even secured on your family home.
These are some examples where lump sum life or illness insurance in the form of business loan protection could help you resolve this potential shortfall in your planning.
Thomas Westcott Chartered Financial Planners advises individuals and businesses on their financial protection arrangements. Our team can help you understand the impact of not having adequate business protection arrangements in place. We can recommend bespoke and practical business protection solutions to fit within your budget.
How could you and your business benefit from our advice?
Our work in this specialist area can provide you with peace of mind that your successors in the business may not have to worry about future financial difficulties if a loan had to become suddenly repaid during a time of crisis.
Business protection could help protect your family’s financial security, especially if a business loan is secured under a personal guarantee or on the family home.
We can also help you ensure that any other financial arrangements (such as pension accounts) are correctly positioned for your family in the event of you passing away earlier than anticipated.
We offer a free consultation and would be happy to speak to you to understand your needs in this critical area.
You are now leaving the Thomas Westcott website. Thomas Westcott is not responsible for the content of the PrimeGlobal website nor the content of the websites of other independent member firms of PrimeGlobal. Equally, PrimeGlobal is not responsible for the content of the websites of independent member firms, including the Thomas Westcott website.Go to site