Do you have income protection and business protection in place? If so, you will  already appreciate the benefits to your business of having a protection policy but do you ever review it? In the time since you first started your plan, many things may have changed in your business that mean you should review the cover you have in place. For example, you may have:

• Taken a new or increased existing business loans;
• Had a change in turnover/profit for your business;
• Reduced or increased the number of staff you employ;
• Employed a new person who is key for your business;
• Welcomed a new shareholder.

Inflation and increases in national average earnings will already have impacted the real value of your initial cover. 

Costs & benefits /product enhancements - good reasons to review!

• Reduce costs – all good businesses have a keen eye on expenses, and you may be spending more that you need to (e.g. the same cover may be available at a lower monthly amount). In other words, you may be losing money unnecessarily each month.
• Improve Benefits – there may new products and features launched, that means you could be missing out on better quality cover that may now be available for the same monthly figure to you.

Our initial review is always free of charge. By not having a review you may not have the level of cover you now need and could be losing momentum by continuing to pay more than you need to.

Some Employee benefits are not regulated by the Financial Conduct Authority.