Definition of Guarantee of Association?


Guarantee of association is a business word that is used when an insurance firm covers financial obligations of the insured. This happens when the person becomes insolvent. It falls under life insurance covers and lasts until the contract period expires or when the insured dies.
Q&A Related to "Definition of Guarantee of Association?"
An organization of life insurance companies within a state responsible for covering the financial obligations of a member company that becomes insolvent.
It depends on how sound you expect your. business. is going to be. But usually it's best to avoid taking out business loans with a personal guarantee, as it protects you in case anything
guarantee: give surety or assume responsibility; make certain of; promise to do or accomplish; stand behind and guarantee the quality, accuracy, or condition of; a written assurance
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