Business Loans – Life Assurance coverage (including BBLs & CBILS loans)

If you’re a director of a business that has taken advantage of a Covid related Government Bounce Back or CBILS loan, don’t forget to consider life assurance protection.

Should the worst happen to a key director/major shareholder the remaining directors/shareholders can avoid being left with a major loan undertaking without the key person being around.

Premiums are generally very affordable given the life policies would be limited to the length of any loan – say 5-6 years. Premiums are an allowable expense corporation-tax wise.

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