Enables ownership transfer to remaining partners and shareholders due to any unforeseen events.
|Business Loan Protection||
|Share Buy / Sell Arrangements||
|Business Loan Protection|
|Share Buy / Sell Arrangements|
1 Loss refers to Death, Total and Permanent Disability (TPD) and/or Terminal Illness (TI). Please refer to the policy contract for the specific coverage under the policy.
2 Compensation refers to the sum assured stated in the policy contract issued by Prudential Assurance Company Singapore (Pte) Limited.
3 Applies to companies with sole directorship or guarantor(s) of the company/partner(s) of a partnership.
4 Insurance payout may not fully repay the outstanding loan.
5 Shareholders of the company.
6 Insurance payout may not be sufficient for share buy/sell arrangements in the event of Death or Terminal Illness.
It safeguards your business against any loss1 of key personnel. The compensation issued can help to ensure business continuity and sustainability.
A Business Loan Protection protects the life insured's personal estate3 and business partners from any credit obligations in the events of an unexpected loss.
Specifically, the payout could help to repay the outstanding loan4, either in part or in full depending on the sum assured. It could also potentially protect the life insured's personal estate that was pledged as collateral for the outstanding loan.
In the events of an unexpected loss, share arrangement enables the possible transfer of share ownership6. It also potentially minimises business interruption and dispute.
The sum of compensation stated in the insurance policy contract will be issued by Prudential Assurance Company Singapore (Pte Ltd).
An early termination could potentially involve paying high costs and any surrender value payable (if applicable).
Buying a life insurance policy is a long term commitment. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid. Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs. This marketing material is not a contract of assurance nor is it intended as an offer or recommendation with respect to the purchase or sale of the above products. Acceptance of the proposal is subject to underwriting. The precise terms and conditions of the above products are specified in the policy. The above is for general information only and does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You may wish to seek advice from a financial adviser before making a commitment to purchase these products. In the event that you choose not to seek advice from a financial adviser, you should consider carefully whether the products are suitable for you. This advertisement has not been reviewed by the Monetary Authority of Singapore.
United Overseas Bank Limited does not hold itself out to be an insurer, insurance broker or insurance agent. The insurance products and services stated herein are provided by Prudential Assurance Company Singapore (Pte) Limited.
United Overseas Bank Limited Co. Reg. No. 193500026Z
Prudential Assurance Company Singapore (Pte) Limited Reg. No. 199002477Z
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