Many businesses have to borrow funds to be able to realise its plans and quite often the ability to repay any borrowing depends on one or two key people in the business. However, if they die or are diagnosed with a critical illness than the ability to continue with these repayments can be extremely difficult. A loan protection arrangement pays out a lump sum if a key person were to die or be diagnosed with a critical illness, offering peace of mind that your business can repay its borrowing.