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Insurance firm makes business loan pledge
23/03/2007
The Guardian Life Insurance Company of America (Guardian) has decided to increase the amount of loan obligations covered in the event of a disability.
Company owners, who have borrowed money through business loans to expand their organisations, could reap the benefits as a consequence, the insurance firm states.
Guardian will insure up to 100 per cent of monthly loan payments - under a number of conditions - should a business owner become totally disabled.
"As long as [company owners] can run their businesses, any loans they take out will be repaid from the earnings of the business," said Charles Dunbar, a national financial network agent.
"If they die, life insurance can pay. But if they become disabled due to sickness or injury and can't work, their business assets could be lost due to loan forfeiture," he added.
Company owners, who have borrowed money through business loans to expand their organisations, could reap the benefits as a consequence, the insurance firm states.
Guardian will insure up to 100 per cent of monthly loan payments - under a number of conditions - should a business owner become totally disabled.
"As long as [company owners] can run their businesses, any loans they take out will be repaid from the earnings of the business," said Charles Dunbar, a national financial network agent.
"If they die, life insurance can pay. But if they become disabled due to sickness or injury and can't work, their business assets could be lost due to loan forfeiture," he added.