But that is not all that can go wrong. Business loan repayments still need to be met and not every business has the capital to buy out a partner or shareholder’s spouse following an untimely death or critical illness.
Business protection can provide a convenient insurance solution to meet those contingencies. It allows a business to match a policy to its business requirements, and gives the flexibility to be able to amend it when circumstances change.
Business protection should be a key consideration for any adviser talking to a corporate client about the future of their firm.
Supporting material was provided by: Paul Avis, marketing director of Canada Life Group Insurance; Emma Davies, market development manager of Legal & General; Dougy Grant, protection director of Aegon; Ian Smart, head of product development and technical support for Bright Grey; and Alan Lakey, partner of Hemel Hempstead-based IFA Highclere Financial Services.