Clare Harrop, Head of Specialist Protection at Legal & General says:
“Being profitable is only a small part of what small businesses need to think about as they look to grow themselves out of the recession. Good talent is invaluable, and critical to a well-run business, which means owners have to offer value not only in the role or salary they offer but also in the protection and benefits they provide staff, and we are seeing a big gap in the market for advisers to start these conversations.
“Legal & General has seen strong demand for protection products from small businesses. Advisers can now get quick quotes online for Group Protection schemes insuring 10-150 staff for as little as .5% of payroll. Our Relevant Life Plan (RLP) is a tax efficient individual Death in Service benefit, ideal for Directors and other employees of smaller, micro businesses. RLP’s can also be used in conjunction with group schemes to top up a short fall in cover for high earners.”