- 40% of businesses would cease trading in under a year if a key person or owner died or became critically ill.
- 37% of businesses don’t have Share Protection Cover in place.
- 57% of businesses don’t have Key Person Insurance in place.
- Only 28% of business owners have heard of a Relevant Life Plan.
- 89% of businesses that have protection cover took it out after taking or seeking advice to protect their business.
Source: Legal & General