Critical illness ignorance barrier to business protection

clock

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Life insurance: Complexity vs cost and the confidence gap

Life insurance: Complexity vs cost and the confidence gap

Complexity and uncertainty create frustration for consumers and operational drag for advisers

Kevin Carr
clock 30 April 2026 • 4 min read
Holloway Friendly and Wiltshire Friendly to merge

Holloway Friendly and Wiltshire Friendly to merge

No job losses anticipated

Jaskeet Briah
clock 20 April 2026 • 2 min read
Protection advisers under 30 report worries about AI use in claims

Protection advisers under 30 report worries about AI use in claims

More concerned about AI used in claims than underwriting

Jaskeet Briah
clock 30 March 2026 • 2 min read