Sales of IP are increasing but is this performance or market forces?

clock
 question-mark-and-maze.jpg
Image:

question-mark-and-maze.jpg

Eoin Lyons examines the growth of income protection sales this year.

The latest sales figures for Income Protection on the surface are encouraging. New business in 2016 in this category will likely be an increase of 6% on last year. Before this is taken as a true measure of sales performance it is important to put market context around this growth. The size of the UK workforce continues to increase year on year and if you look at the simple ratio of new policies sold per worker you can see a different complexion on performance. Since 2013 the sales pe...

To continue reading this article...

Join Cover

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Income Protection

The COVER Review June 2022: Pride, Sandy's Story, Consumer Duty and IP for Gen Z

The COVER Review June 2022: Pride, Sandy's Story, Consumer Duty and IP for Gen Z

Now available for members to watch

John Brazier
clock 23 June 2022 • 1 min read
LV= pays out over £5 million on IP claims during early 2022

LV= pays out over £5 million on IP claims during early 2022

Between January and April

John Brazier
clock 14 June 2022 • 1 min read
British Friendly pays out 84% of IP claims in 2021

British Friendly pays out 84% of IP claims in 2021

Musculoskeletal-related issues the top reasons for claiming

Hemma Visavadia
clock 26 May 2022 • 1 min read