Business Debt Insurance in NZ
As a business owner, have you ever considered the following :
- If something happened to a key person,would your business have difficulty meeting its commitments under any loan arrangement?
- What would become of the assets associated with the loan?
- Would they be sold to repay the debt?
- Are any of your or other directors’ personal assets (such as a home) linked to the business loan?
- Do you know, If you’re in a partnership, you are liable for your partner’s share of the business and debts, in addition to your own?
The solution to address the above is to have Business Debt Insurance. It will help:
- Protect the guarantor and their assets.
- The proceeds can be used to repay the loan (in full or in part)and thus release the guarantor.
- Protect the business and the remaining business owners (as often banks makes hareholders or directors personally responsible for the whole debt).
- Reduce the risk of company/personal insolvency or administrations.
- Meet obligations under the law.
- Reduce the risk of losing personal wealth.
Do speak or write to us determine the appropriate level of cover for your business needs.
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