Mon to Thur 10:00am – 7:30pm / Fri 10:00am - 4:30pm
Call us on 0800 024 8685 / 01202 714177

Level and Decreasing Life Insurance for Mortgage and Family Protection

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Critical Illness Cover will pay out upon diagnosis of a critical illness

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Whole of life policies cover funeral arrangements, inheritance and tax bills

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Over 50's plans are suitable for people with pre-existing medical conditions

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Half of business owners lack instructions in their will

6th July, 2017

Half of business owners lack instructions in their will

According to L&G’s “State of the Nation” report, 51% of SME owners lack instructions in their will or any special arrangements regarding shares. The survey looked at over 800 SMEs, revealing some significant gaps in both knowledge and protection.

Head of Intermediary Development Richard Kateley warned that for SMEs, the death of a business owner “can be hugely significant should there be no plan in place or an arrangement regarding company shares”. Kateley highlighted that this often leads to shares being tied up in probate, which might paralyse the operations of the business.

This may be solved with a simple Shareholder Protection Agreement, to protect owners from situations such as this and to help keep the business in the right hands. The survey revealed that nearly 40% of SMEs had no share protection insurance and just 41% had a shareholders agreement.

« Return to industry news page