Borrower's Insurance
A business or property loan commits the company for years. If the borrower dies, becomes disabled or can no longer work, borrower's insurance takes over the repayments.
What it covers
Death
The outstanding capital is repaid to the lender, without falling on family or business partners.
Permanent disability
If the borrower can never work again, the repayments are covered according to the recognised disability rate.
Temporary incapacity to work
A sick leave or accident prevents working: monthly repayments are covered for the duration.
Job loss (optional)
Some policies also cover repayment if an employed borrower is made redundant.
What it does not cover
- Illnesses or conditions not declared on the health questionnaire may be excluded in the event of a claim.
- Certain risky sports or extreme activities are only covered with a specific option.
- Time off work linked to a pre-existing condition known before subscription is generally not compensated.
Who is it for?
You're taking out a business loan
Buying equipment, premises or a business: the bank often requires this cover.
You're a director and a borrower
Your absence shouldn't turn an investment into unpayable debt for family or partners.
You're financing commercial property
Repayment must continue even if one of the borrowers can no longer cover their share.
Frequently asked questions
Is it mandatory to get a loan?
Can I choose my own insurer instead of my bank's?
Does the disability rate really change the payout?
Can several borrowers be insured on the same loan?
These coverages often go together
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