Safety in numbers- covering individuals under group protection plans

While the group risk market stagnates and is subject to churn, one area that advisers could be looking to support market growth is by reviewing organisational protection as a preferred route over personal protection. The benefits of group insurances should be fully weighed up before an adviser recommends personal coverages as the group market can be proven to provide more value. The cost per person for group insurances can be much lower than personal insurance and cover for two directors on a personal basis could be enough to cover a further 10 staff under a group arrangement. To keep...