• 07930 895 118
    Call now

Hello, I’m

Hello, I’m​ David Thompson (CeMAP, CeRER)
Mortgage Adviser
Your Trusted Partner for Mortgages and Financial Solutions
Welcome! I’m here to guide you through mortgages, remortgages, debt consolidation, and personal and business protection. With years of experience, I provide tailored advice and solutions to meet your unique needs.
Why Work with Me?
  • 1. Wide Range of Lenders: I have access to numerous lenders to find the best deals for you.
  • 2. Expert Advice: Benefit from my knowledge and experience to make informed decisions.
  • 3. Save Time and Money: I’ll handle the hard work, ensuring you get the best financial solutions efficiently.
Book an appointment
Let’s find the best solution for you!

Integrity

Transparency

Confidentiality

Arrange your initial chat now!

Your information will only be used to answer your enquiry and will not be retained for marketing purposes. 

Understanding Business Loan Insurance

What is Business Loan Insurance?

Business loan insurance, also known as key person insurance or business loan protection, is a type of insurance designed to cover the outstanding balance of a business loan if the borrower, typically a key person or business owner, dies or becomes critically ill. This ensures that the business can continue to meet its financial obligations without burdening the remaining partners or employees.

Business loan insurance helps ensure that outstanding loans are repaid in the event of the insured person’s death or critical illness, protecting the business from financial strain.

It provides peace of mind for business owners, knowing that the company’s financial obligations will be covered, preventing potential liquidation or loss of assets.

In many cases, the premiums paid for business loan insurance can be tax-deductible, making it a cost-effective solution for protecting your business finances.

By understanding and implementing business loan insurance, businesses can safeguard their financial future and ensure continuity in the face of unexpected challenges.

Top 6 Questions About Business Loan Insurance

Business loan insurance is a policy that covers the outstanding balance of a business loan if the borrower, usually a key person in the business, dies or becomes critically ill. The insurance pays out a lump sum to cover the loan, ensuring the business does not suffer financially from the loss.
Typically, the insurance should cover key individuals whose death or critical illness would impact the ability of the business to repay the loan. This often includes business owners, directors, or key employees who are responsible for loan repayments or whose absence would significantly affect the business.
The coverage amount should match the total outstanding balance of the business loan you want to protect. It’s important to review and adjust the coverage amount as the loan balance changes over time.
Business loan insurance can cover various types of loans including term loans, overdrafts, lines of credit, and other forms of business debt. Make sure the policy specifically covers the type of loan you have.
In many cases, the premiums paid for business loan insurance can be tax-deductible as a business expense. However, it’s best to consult with a tax advisor or accountant to confirm how it applies to your specific situation.
If the insured person recovers from a critical illness and returns to full health, the policy remains in place unless it is canceled or modified. The insurance will only pay out if a valid claim is made due to death or critical illness as specified in the policy terms.

Follow us

Facebook-square X-twitter-square Instagram Linkedin

Useful Links

Contact Me

  • Apt 11, Woodbrook House, 46, New House Farm Drive, Northfield, Birmingham 831 2GP
  • Birmingham – 0121 453 4244
    Loughborough – 01509 457458
    Mobile – 07930 895118
  • david@templar-mortgages.co.uk

Integrity

Transparency

Confidentiality

Your home may be repossessed if you do not keep up repayments on your mortgage.

Not all Buy to Let mortgages are regulated by the Financial Conduct Authority.

Think carefully before securing other debts against your home.

As with all insurance policies, conditions and exclusions will apply.

Templar Mortgages and Protection is registered in England & Wales under number 15371139. Registered address is – 11, Wood Brook House, 46, New House Farm Drive, Northfield, Birmingham, B31 2GP.

Templar Mortgages and Protection is an Appointed Representative of Stonebridge Mortgage Solutions Ltd which is authorised and regulated by the Financial Conduct Authority.

  • Copyright 2025, All rights reserved.Website developed and maintained by IIHGLOBAL