Critical illness ignorance barrier to business protection

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Companies fail to properly protect their businesses because they remain unaware of the impact death or critical illness could have, according to research by Skandia.

A survey of more than 500 advisers shows 78% call a lack of awareness of the impact such events could have, the biggest barrier to companies taking out adequate business protection. Almost 50% attribute entrepreneurs failing to take out insurance to knowing little about the likelihood of the events occurring followed by the same number who attribute it to cost perception. A total of 30% believe business see actual cost as a barrier to fewer businesses than cost perception. Skandia says this suggests companies me find life and critical illness protection more affordable than they think...

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