Its business protection products include; life cover, critical illness cover, key person, loan protection and shareholder protection.
Key person cover protects the business if it loses a person through critical illness, terminal illness or death whose long-term absence would affect its earnings, for example a director.
Loan protection covers against the risk of a loan that is still unpaid if the guarantor is unable to pay due to illness or death.
Shareholder protection is used to safeguard the financial interests of business owners, partners or directors if another shareholder is critically or terminally ill or dies.
Mike Allison, head of protection for Paradigm, said: “Scottish Widows is one of the biggest brands in the UK market and we are very pleased to see it back in the adviser protection space.
“In keeping with the Paradigm philosophy, we are delighted to assist members by providing access to the best product providers, at the best commercial terms available in the sector.”
In a feature on Mortgage Solutions in April last year, Paradigm Mortgages’ Bob Hunt (pictured) wrote that Paradigm Mortgages had seen a much greater level of engagement with the protection market, which led to the creation of Paradigm Protect.
