Aegon has produced a factsheet highlighting the importance of business protection for an adviser's clients.
The business continuity and succession planning factsheet highlights the likelihood of at least one partner or director of a small to medium sized enterprise (SME) either contracting a critical illness or dying. It also highlights the benefits to the company, employees and families of having key person and/or shareholder protection in place. Aegon said it wanted to present a clear picture of the risks to businesses. It is estimated that only 5-10% of companies in the UK have key person cover, with a 50% chance of one of two directors aged 35 contracting a critical illness and a 94% li...
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