Debt protection, also is "best practice" for business, regardless of size, says Mr Kateley.
Prevention rather than cure?
While there are insurance solutions to help mitigate the effects of these risks, it is also worthwhile encouraging clients to consider preventative measures, such as enhancing employee benefits packages with wellness and mental health support packages.
These can help individuals and the employer by minimising the risk of long-term absence due to stress or mental health issues; by enhancing employee morale and health; and by helping rehabilitate key staff after an absence due to illness or injury.
"The potentially catastrophic consequences that illness or injury to key people can have on a business is just too big a risk not to plan for," says Paul Moulton, SME director for Axa PPP Healthcare.
"Yet providing healthcare cover gives employers the peace of mind that comes with knowing their people will get the care they need, in privacy and comfort, and at a time and place that works for them and for the business."
simoney.kyriakou@ft.com
