A website designed to help advisers guide clients on the essentials of business protection has been launched by Skandia.
The site looks at how best to cover the key people and owners of a business, including who needs cover and how much cover is required.
It includes key man cover and premium equalization calculators, the latter designed to help advisers distribute protection payments proportionately across key directors and shareholders when opting for shareholder or partnership protection.
Ian Brown, head of protection marketing at Skandia, says: “Many businesses forget to insure their key asset – their people – whether they are key employees, partners or shareholders.
“Any business could suffer if a director or key employee died or became critically ill. As well as the day-to-day problems, the absence of a key person can have a serious effect on the company’s finances.
“Our own research and feedback has suggested that helping clients to appreciate the potential risks to their business is a big challenge, which is why we have produced this pack to help advisers address this issue.
“The online tools and supporting marketing material are all about simplifying the application process, and aiding financial advisers when discussing business protection with their clients.”
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