Commercial Overdraft Repayment Insurance
Keeping your business going, even when the unthinkable happens
Commercial Overdraft Repayment Insurance (CORI) is a simple, low-cost way to manage your overdraft even if an accident, illness or death prevents you, a business partner or a key employee from working.
Commercial overdrafts can help your business maintain a healthy cash flow by cushioning the loss if the unexpected happens and you or another key member of staff are too ill to work. Without sufficient insurance cover there is the potential that your overdraft can build up and become unmanageable.
To find out more or apply for Commercial Overdraft Repayment Insurance, call into your local branch or call 0845 072 5555 to speak to one of our business managers.
Features & Benefits
- Payments for disability: if disability occurs through accident or illness and lasts more than 14 days, we will pay £50 per month for each unit purchased (max £1,250 per month) for up to a maximum of 24 months for each insured person.
- Payments for sickness or accident: payment is made after 14 consecutive days of absence due to sickness or accident, with the benefits payable monthly thereafter, subject to conditions at point of claim.
- Life cover: in the event of death, the insurer will pay up to the amount of the overdraft limit for each insured person.
- Choose your level of cover: buy cover in units of £1,000. Cover costs £3.15 per unit per person insured (minimum 2 units, maximum 25 units.) Premiums are paid monthly by direct debit through your business account.
- Free injury rehabilitation support service.
- Free health advice line.
Commercial Overdraft Repayment Insurance is available to nominated persons between the ages of 18 and 70. The insured must be a sole trader, partner or director and must have at least one business address in the UK**.
CORI does not provide cover for: pre-existing medical conditions, employees working less than 16 hours a week and/or who have not done so for at least 6 months or anyone under the age of 18 or over the age of 70. For full details of exclusions, please see our terms and conditions or speak to a business manager.
Commercial Overdraft Repayment Insurance important information.
How do I apply?
At your local branch
Drop in to your local branch to complete an application form.
By phone
Call 0845 072 5555 to make an appointment.
