Confidence from small and medium-sized enterprises (SMEs) is now at a three-year high, and could lead to renewed opportunities for protection advisers, research has suggested.
Reseach from Legal & General (L&G) and Unbiased found nearly three quarters (72%) of UK SMEs reported profits in the last financial year.
The research said this highlighted an opportunity for advisers to get back in touch with their SME client base to review plans and discuss putting protection provisions in place.
Employers were found to be placing more emphasis on the value of Group Protection - nearly two in five (38%) saw Group Life Protection as an essential part of their benefits package for staff, compared to 31% in 2011.
Meanwhile nearly one in five (17%) employers offering Group Income Protection said they recouped the cost in improved employee morale and productivity.
Clare Harrop, head of specialist protection at L&G said: "Being profitable is only a small part of what small businesses need to think about as they look to grow themselves out of the recession. Good talent is invaluable, and critical to a well-run business, which means owners have to offer value not only in the role or salary they offer, but also in the protection and benefits they provide staff.
"We are seeing a big gap in the market for advisers to start these conversations. L&G has seen strong demand for protection products from small businesses.
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