Will 2016 be the year of Business Protection?
3rd March, 2016
2015 saw the industry working hard to raise awareness of the benefits and the need for Business Protection amongst consumers. This resulted in several providers, Legal and General among them, seeing an increase in applications for Relevant Life policies at the close of 2015.
Providers are now responding to the surge in interest and have made several changes and improvements to their Business Protection policies. Aviva has launched two new Business Protection products, including a Relevant Life policy with the option to add Critical Illness. This is big news for the industry and a first for the protection market. Aviva have made the change as they feel this will now help cover Business Protection needs in one application.
Legal and General, another major provider of Business Protection policies, have now made it easier for advisers and their clients to put their policies into Trust. This is often a great idea to help ensure the policy pay-out is as smooth and as tax efficient as possible. The majority of Business Protection polices and indeed Life policies are required to be put into Trust to ensure they do what they were designed to do: pay out the right amount, to the right people, at the right time.
2016 also started with more good news for Business Protection. Provider Vitality Life has now upgraded its plan to now include Vitality Optimser, which means policyholders can now take advantage of discounts and possible premium reductions if they stay healthy during the term of the policy.
If you are a business owner and interested in the benefits of Relevant Life plans, then give us a call at Compare Life Quotes on 0800 024 8685 or 01202 714177 to talk you through your options.