Business Protection Insurance Knowledge Gap

Business protection insurance knowledge is low with business owners according to a recent survey of financial advisers by Skandia.  

Business owners are failing to protect their business because they are unaware of the true impact death or a critical illness could have.  

Lack of awareness of the impact of such events could have was the biggest barrier to companies taking out adequate business protection, followed by a lack of awareness of the likelihood of the events occurring and perception of cost.

Fifty per cent said quality of service was the most important factor when choosing a provider for business protection, followed by the range of illnesses covered and price.

Our view

There are so many potential problems for both family and business partners and indeed employees by not ensuring that you have adequate business protection insurance.

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