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Skandia turns the key

Skandia is running a campaign to help IFAs get the most from the corporate protection market. To mark the campaign, it has published a free IFA guide and new business insurance and premium equalisation calculator.

The guide includes information about key employee cover, loan cover and partnership and shareholder protection, as well as details about taxation and Skandia products.

Skandia&#39s calculator allows IFAs to equalise premiums on partnership and shareholder policies in line with the level of cover each party requires by inputting the client&#39s name, percentage ownership in the business and premiums paid.

The guide explains the benefits of key employee cover which aims to protects a business against the financial effect of the death or illness of a director, important salesperson or other crucial member of staff. It is estimated that only 5-10 per cent of UK firms which should have this cover have taken any steps to protect themselves.

Protection brand manager Shelley Robertson says: “We all understand how important insurance cover can be to the survival of a business, yet so many businesses forget to insure their most valuable asset – their people. Many IFAs shy away from business insurance due to its complex nature but the new Skandia calculator can help IFAs take advantage of opportunities in the untapped corporate market.”

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