As more and more waves of advisers are beginning to focus their attention on selling business protection products, Jerry Bayman explains how to capitalise on the offering.
The attraction of the business protection market for providers is three-fold. Firstly, the ability to reduce market risk by widening the business base is attractive. Secondly, the higher premiums generated by larger sums assured and the older ages that typify this market, should lead to more profitable business. And thirdly, there is a business protection gap, which presents a huge opportunity for advisers and providers to grow this area of the market. For years there has been a perennial call that business protection is undersold. It is interesting to consider why this is the case. One...
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