Legal & General is launching a new set of guidance cards that outline the opportunities for recommending key person cover, directors share protection and partnership protection policies.
The life office's 2003 business intentions survey highlighted that half of the UK's small firms risk collapse within a year as the health of their key workers remains unprotected. But L&G says only a relatively small proportion of IFAs are active in this market.
L&G managing director intermediary solutions Graham Newitt says: “Small firms represent a huge untapped market for IFAs. Meeting the needs of these firms with suitable business protection arrangements relies on good quality professional advice from IFAs. Those who make it work can expect to reap rich rewards for their efforts”.