BizLoan Protect

Safeguard Your Business with BizLoan Protect

BizLoan Protect is a complimentary insurance designed exclusively for borrowers of DBS business loans. It offers crucial financial protection for your business in unforeseen circumstances.

• Complimentary Coverage: Enjoy this valuable protection at no additional cost as a DBS business loan borrower.
• Financial Protection for Your Loan: In the event of accidental death or permanent disability, BizLoan Protect will first settle your outstanding DBS business loan (including late fees and accrued interest) directly with DBS Bank. This alleviates the financial burden on your business. 
• Support for Your Family/Estate: Any remaining balance from the insurance payout, after settling the loan, will be disbursed to your family or estate, providing additional financial support during a challenging time. 
• Accidental Death Benefit: Provides a fixed sum insured in the unfortunate event of accidental death, ensuring your loan obligations are managed and your loved ones receive financial assistance.
• Accidental Permanent Disability Benefit: Offers a fixed sum insured if you suffer from accidental permanent disability, helping to cover your loan and providing support for your personal needs. This includes: 
  - Permanent Total Disablement
  - Permanent paralysis of all Limbs- Loss of both hands or both feet
  - Loss of one hand and one foot
  - Loss of one Limb and sight of one eye
  - Loss of sight of both eyes
  - Permanent Loss of speech and hearing

Upon an eligible accidental death or permanent disability, Chubb, our insurance partner, will process the payout. The funds are first used to settle your outstanding DBS business loan, and any remaining amount is then directed to your nominated beneficiary or estate.

BizLoan Protect offers peace of mind, allowing you to focus on growing your business knowing that you and your loved ones are protected.

Apply for Business Loan now

All benefits and coverages are subject to the terms and conditions of BizLoan Protect. Please refer to the policy wording for the full insuring clauses, definitions, schedule, extensions, terms, conditions, exclusions, and limits of liability of BizLoan Protect.