Settles business loans or director's personal guarantees if the guaranteeing owner or director dies or becomes permanently disabled.
Covers loans where an owner or director has personally guaranteed business debt.
Prevents a deceased owner's family home or personal assets being called on to settle a guaranteed business debt.
Cover can be reviewed and reduced in line with the outstanding loan balance.
| Cover feature | Detail |
|---|---|
| Cover basis | Outstanding guaranteed loan balance |
| Minimum cover amount | R250,000 |
| Policy owner | The guaranteeing individual or the business, by agreement |
| Review frequency | Recommended annually, aligned to loan amortisation |
| Payout destination | Directly to the lender or the business, per policy structure |
Any business loan, lease or facility where a director or owner has signed personal surety, making them personally liable if the business can't pay.
No, cover amounts should be reviewed and adjusted manually as the guaranteed balance reduces, to avoid over-insuring.
Yes, cover can be structured across multiple guaranteed loans or facilities, each valued separately.
An adviser at Mzansi Advisors can review your guaranteed exposure and recommend the right cover — at no extra cost.
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