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The site looks at how best to cover the key people and owners of a business, including who needs cover and how much cover is required.

It also includes a cover calculator to help determine how much cover each key person needs and a premium equalisation calculator that helps advisers to distribute protection payments proportionately across key directors and shareholders when opting for shareholder or partnership protection.

According to Skandia, previous research conducted by the firm showed that there was a lack of awareness about the impact that critical illness or death can have on a company. Skandia added that advisers have an important role in helping clients understand this and recommending an appropriate solution to prepare for such events.

Ian Brown, head of protection marketing at Skandia, said: "Many businesses forget to insure their key asset – their people – whether they are key employees, partners or shareholders. Any business could suffer if a director or key employee died or became critically ill.

"Our own research and feedback has suggested that helping clients to appreciate the potential risks to their business is a big challenge.

"The online tools and supporting marketing material are all about simplifying the application process, and aiding financial advisers when discussing business protection with their clients."

Skandia has also produced an information pack for advisers to use with their clients. It includes flowcharts to give advisers information on how to set up the different forms of cover and the factors to be considered when determining appropriate protection. (See previous Skandia story.)