Advisers who are wary of the business protection market may be missing out on lucrative opportunities. Alun Beynon answers some need-to-know questions
Why is so little business protection written in the UK? Business protection includes commercial lending, key person insurance, director/shareholder protection and partnership protection. The last three categories are the most overlooked. A number of factors have combined to suppress sales levels. These include: - A lack of awareness at client level that there is a need for such cover. - In some of the larger adviser organisations, business protection is frequently overlooked because it can be covered by neither corporate financial planning nor personal financial planning. - Advisers...
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