Two thirds of small businesses believe the death of a key employee would have a severe impact on their business, yet few have key employee insurance, according to Scottish Provident.
The research shows that 65% of small businesses fear a key employee dying, but only 18% have cover in place. And over half (57%) also believe that their business would be significantly affected if a key employee was unable to work for more than six months due to a serious illness. This lack of cover is even more surprising, given that nearly half (48%) predict a key employee will suffer an illness which means they will be off work for at least six months in the future. Jerry Bayman, national corporate sales manager at Scottish Provident, believes precious few small businesses seem ...
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