There is a common misconception within the Protection Industry that Business Protection is far too complicated and that it takes a specialist adviser to understand and sell it.
On the contrary, Business Protection can be quite straightforward once you have the right processes in place and the right support from your chosen provider. It is true that Business Protection cases can often take longer to fully secure from start to finish. However, the rewards for an adviser are substantially higher – both in terms of building relationships with high net worth clients and creating a new income stream.
Our current marketing focus is at the top-end of the market, generating very competitive rates for older lives requiring high sums assured. This approach is ideal for clients seeking Business Assurance cover.
The most common forms of Business Protection are Key Person Assurance, Shareholder Protection and Business Loan Cover.
All of these products, plus technical information and support are available through Standard Life. You can find out more by visiting our Business Assurance page.
One quick call could save you hours of work
Standard Life has a dedicated Business Assurance Team you can contact to discuss cases in detail before submission to ensure they are processed smoothly. Specialist Protection Account Managers are also on hand to help with cases both pre and post submission and they can help organise the financial underwriting process.
The Business Assurance team will get back to you within 48 hours with any additional application requirements. Save yourself time and speak to the underwriters first on 0845 60 60 135 from 9am - 5pm every week day. Call charges may vary. Calls may be recorded/monitored to help improve customer service.
Example
Mr Owner, age 45 buys a five year Renewable Key Person plan to cover him for £1m, should anything happen in the future which results in him being unable to work.
The cost would be £111.08* per month. The commission generated for the adviser would be £1068.74*.
* Standard Life rates at 13 November 2006. Figures are for illustration only and are not guaranteed.
No guarantees are given regarding the effectiveness of any arrangement entered into on the basis of these comments.
If you would like more information or simply need support selling more Business Assurance, please contact your nearest Standard Life office and a specialist Protection Account Manager will be in touch.
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