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

Pure protection in focus: FCA market study raises regulatory expectations for 2026

Pure protection in focus: FCA market study raises regulatory expectations for 2026

Commission models and fair value under scrutiny

Joe Norburn
clock 20 February 2026 • 6 min read
Chesnara to close HSBC Life UK to new protection business

Chesnara to close HSBC Life UK to new protection business

Follows £260m acquisition

Jaskeet Briah
clock 04 February 2026 • 3 min read
Targeted support: FCA opens door to protection inclusion

Targeted support: FCA opens door to protection inclusion

Could help address protection gap

Cameron Roberts
clock 29 January 2026 • 2 min read