Payment protection insurance to business loans
The insurance will protect you when you are not able to carry on business either temporarily or permanently. The insurance company will help you for the period when you business income drops but the instalments of your business loan remain the same. The insurance actually protects you against the following events:
- insurance against death
In case of an insured event the insurance company repays to the bank the remaining part of the debt and the insured´s family does not need to worry about the repayment of the loan.
- insurance against total disability
If the insured entrepreneur becomes totally disabled, the insurance company will pay the loan instalments instead of him from there on.
- insurance against working inability
You do not have to worry about loan instalments even in the case of a long-term illness. If you are sick for more than 28 days, the insurance company will pay the loan instalments instead of you for the entire period of your illness.
How to arrange the insurance
Advantages of payment protection insurance
- comprehensive insurance for various life situations
- protection of guarantor and your family
- your protection against a decrease in your business income