LV= has launched a range of business protection insurance products designed for small and medium sized businesses.
Myles Rix, managing director of protection at LV=, said: “We are committed to working with advisers to raise awareness of business protection and grow the market and have developed tools that we believe will help advisers to discuss and demonstrate the value and benefit of these policies.”
Key Features
■ The products offer key person, shareholder and partnership insurance, plus loan protection.
■ All business protection policies come with a choice of guaranteed increase options
■ No further underwriting required for increases up to 50 per cent of the original cover amount and £250,000 overall.
■ LV=’s business protection combined life and critical illness cover mirrors its individual policy and includes free children’s cover.
Adviser Verdict
David Wilson, managing director of Tyne and Wear-based NE Money, said: “With business protection you are looking at the price, but also at the quality of the cover.
“A lot of the benefits which some products offer such as free legal advice, are not as attractive to employers because you can get them through other sources such as a chamber of commerce.”
