Life Insurance for SBA & Commercial Loans
Your Lender Requires Life Insurance. We'll Get You to Closing.
We help North Carolina business owners secure the term life coverage their loan requires, then handle the collateral assignment with the lender so nothing holds up closing.
- No-exam options for many applicants
- Multiple carriers compared
- Lender paperwork handled
1. Share your loan requirement
Answer a few questions about the loan and who needs coverage. It takes about two minutes.
2. We shop and apply with you
We compare term life options from multiple carriers, including many that offer fast, no-exam approval for qualified applicants.
3. We handle the lender paperwork
Once approved, we complete the collateral assignment and send proof of coverage to your lender so it is ready for closing.
Common questions from borrowers
SBA and many commercial lenders require life insurance on the owners or key people behind a loan, especially when the loan is not fully secured by collateral. If something happens to you, the policy pays down the loan so your family and business partners are not left with the debt.
Coverage is subject to underwriting approval by the issuing insurance company. Requirements vary by lender; please confirm your specific requirement with your loan officer.