A history of protection products

The good, the bad (and the ugly)

clock • 6 min read

Tom Baigrie, LifeSearch and Ryan Griffin, Beagle Street, take a combined look at a range of protection products including what has been successful; what didn’t stand the test of time; and why advisers are more important than we might think.

The last globally successful product launch happened when the diagnosis of a dread disease was added to death and disability, which we now more euphemistically, call critical illness (CI) cover. Invented by South African heart surgeons, its purpose was to enable their wealthy beef-fed heart-attack prone patients to pay for the expensive transplant operations that had been pioneered there in the 1960's. It took until the 90's to reach the UK market, but now far outsells the obliquely suitable alternative (given such operations are available free in the UK) called income protection (IP). ...

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