Should you be offering Business Protection?

As you read this article a small business could be folding!

It can take just one business partner or a key employee to fall ill or worse, and an entire business can fold.

Have you considered offering Business Protection to your clients?
A market with great potential that may not be as complicated as you think. Call the Protection Sales Team to find out how Legal & General can support you.

The Business Protection Market

In April this year Cover magazine wrote, ‘it is thought that more than 90% of the market is uninsured with 500 potential new clients appearing every day’. With a market that appears to be neglected it could be time to start thinking about selling business protection.

Also, this year Legal & General conducted research relating to Business Protection. The results highlighted that many businesses have a lack of understanding of protection needs, little knowledge of the products available and also of the cost of cover. The key findings from the research were:

• Less than a third of companies have key person protection
  
  
• Almost half of respondents said that their business would not survive six months without their key personnel
  
  
• In the same way, of several scenarios presented, only 'loss of premise to fire' would have a bigger impact on the business than the death or critical illness of a key person.

How can Legal & General help you to help your clients?

We have produced a Business Protection Sales Support Pack, to help you start up or become more familiar with Business Protection.

The pack includes:

• an adviser guide with lead generation and sales ideas
  
  
• an underwriting guide and product summary
  
  
• guides to benefit equalisation and instalment options
  
  
• prompt cards and details of our support services.

As always we also have a full range of Key Features Documents, application forms and technical guides, for Key Person Cover, Director Share Protection and Partnership Protection.

All of the above items are available to order through your usual Legal & General contact or to view the content of the new pack and the Technical Guides, click on the links provided.

Presentations and Workshops– A New Year, a new opportunity

In addition, a Legal & General representative can attend your monthly/quarterly or regional meetings in the New Year to present on Business Protection or run a workshop to your business (provided sufficient notice is given). If you would like to discuss these options and opportunities further please contact the Protection Sales team on the number below.

Legal & General's Support Services

To help you make the most of your business opportunities and help with any queries you may have, the following contacts are available.

Protection Sales Team: Please call your Dedicated Protection Sales Team on the usual number or alternatively call 0845 273 0010* Calls are charged at the local rate. Available Monday to Friday 9.00am to 5.00pm.

Life Technical: 01737 376789
Taxation and trust queries - Available Monday to Friday 9.00am to 5.00pm.

Medical Underwriting Technical Advice Line (MUTAL): 0870 333 3699*
Calls are charged at the national rate.
Access to Medical Underwriters to discuss pre-submission requirements.
Available Monday to Friday 9.00am to 5.30pm.

*For your protection, we may record and monitor calls.

For more information on any of the Business Protection products or items of literature, please speak to your usual Legal & General contact.