Funding Societies has added built-in insurance protection to its Business Term Loan Pro for SMEs.
The financing platform partnered with United Overseas Insurance Limited to launch AssureProtect, which is included with the financing product at no additional cost.
The insurance covers the outstanding loan amount if a key person associated with the business dies in an accident or suffers permanent disability.
Coverage applies worldwide around the clock and starts when the financing begins.
SMEs do not need to complete a separate application or undergo underwriting.
The product is designed to support business continuity if an SME unexpectedly loses a key person.
Featured image: Edited by Fintech News Singapore, based on image by Funding Societies via LinkedInÂ
