Industry reaction: Income protection plans on the decline?

Last week we reported that Defaqto had warned that customers could be at risk of limited payment policies falling short, following stats showing the number of income protection policies available on the market had fallen from 32 to 24 over the past decade (13%). "Whilst sales have increased, the number of products and providers have decreased; this implies a more concerted effort from those providers committed to the IP market," said Ben Heffer, insight analyst - life and protection at Defaqto. "As most IP is sold by intermediaries, we must also thank the IP Task Force and Seven Families...