LV= has launched its new Relevant Life Cover product on LifeQuote's Business Protection area.
The launch follows "strong demand" from advisers for business protection insurance, as small businesses have grown by 200,000 in the last two years to 4.8 million.
Relevant Life Cover is a tax efficient way for small businesses to provide stand-alone, single life, death in service cover for employees, high earning individuals and salaried directors.
Written in trust, it pays a tax-free lump sum to the beneficiaries or dependants if the person dies or is diagnosed with a terminal illness while employed during the term of the plan.
Neil McCarthy, sales director at LifeQuote, said: "Business protection is enjoying a renaissance, thanks to a significant growth in the number of small businesses. We are acting to ensure that we have the broadest range of providers and products to meet the demands of advisers".
LifeQuote currently hosts Aegon, L&G, Zurich, PruProtect, Scottish Provident and Zurich quoting this product, and provides an outsourced administration service for advisers.
