Legal & General has enhanced its business protection proposition in a bid for share of the business protection gap.
Legal & general's research department has calculated the business protection cover gap as £1.1tr. As a result, the provider has released five upgrades to its business protection proposition:
A dedicated Specialist Protection team, to provide technical expertise on products as well as marketing, training, tax and trusts, underwriting and sales support.
A Priority Protection Promise for higher sums assured which includes a ‘Price Beater'1 offer that guarantees to beat a competitor's premium.
A new suite of literature, including a range of sales support literature and trusts and technical material for the product range.
A new website, with tools to help advisers write Business Protection cover.
An online quote and apply system that offers multi product discounts.
Commenting, Clare Harrop, head of specialist protection at Legal & General said, "I continue to be amazed at how many businesses are not fully prepared to handle the event of the death or critical illness of a key person or business owner.
"This is a great opportunity for financial advisers to develop their own business and talk to corporate clients, new and existing to ensure they have the protection in place that could ultimately save their business, should the worst happen."
