Business/Agri Payment Protection
Business payment protection covers your loan repayments when you are unable to meet your obligations.
Customer Benefits
- Cover can be extended for up to four Directors
- When a Director/Owner is unable to work, this can affect the company's ability to make loan repayments. Having payment protection takes care of the repayments as well as helping to protect the customer's credit rating in this situation.
- The absence of an owner or partner can also result in higher costs - e.g. hiring a replacement. With payment protection, the loan repayment is still covered thus freeing up some capacity to address those additional business-running costs.
- Covers your loan repayments in the event of disability (accident, sickness), critical illness/major accident or death.
- Eliminated the worry of meeting monthly repayments.
As with all insurance policies there are eligibility criteria and some exclusions for claiming. Please download our policy booklets for full details:
Download Business Payment Protection
Download Agri Payment Protection
Terms of Business
Download Terms of Business (PDF, 440KB)
For further queries please email us at business.banking@boimail.com