Untapped broker opportunity to sell business protection

The support material includes information highlighting why businesses should protect themselves and how advisers can identify and then approach customers who have a business protection need.

The online content included information on business continuity and succession planning, including a series of “ask the expert” video clips, featuring Tony Wickenden from Technical Connections.

Alun Beynon, head of sales and distribution at AEGON , said: “The business protection market is still relatively untapped.

"I believe there is a perception among advisers that business protection is over-complicated, especially when it comes to the more technical tax and trust issues, so we have developed support material on these areas which can be downloaded from the toolkit.

“Advisers can also benefit from a range of interactive calculators, providing a means of identifying with customers the value of their businesses, including their key employees and the likely consequences to themselves and their families of not having adequate business protection cover in place.”

Peter Cadborn, director of IFA CBK, said: “Business protection is vastly undersold and advisers have a great opportunity to tap into this market.

"AEGON’s online support material helps advisers get to grips with this market by looking at the key elements of business continuity and succession planning.”

Cadborn added that it is worth speaking to existing clients looking at Life Insurance, because often SME owners use this type of cover, without identifying the need for business protection as well.