Lifesearch sees protection growth

Lifesearch has bucked the trend of declining protection sales with a significant growth in business last year.

The intermediary firm also said it delivered strong retention returns and expanded its workforce, taking on 53 new advisers during 2011.

According to the organisation, it grew the number of lives financially protected in 2011 by 14% (compared to 2010) to 51,680.

Customer retention rates were strong with around 65% of lapse warnings being prevented from actually lapsing.

The firm wrote 21% more policies into trust and sales of the ‘greatly undervalued' family income benefit passed 10% of total sales for the first time.

In addition, over 50% of all policies sold were indexed in line with inflation, while it dealt with 120 claims.

Matt Morris, senior policy adviser at Lifesearch, said: "As Lifesearch grows we continue to ensure that the quality of our advice and customer care maintains the highest standards.

"These figures prove that it is possible to sell good quality protection products with advice and keep your customers happy in tough economic times."