Gen Re has reported sales increases for most protection policies with income protection showing the strongest levels of growth while guaranteed whole of life plans have struggled.
Overall new protection business sales increased by 3.9% in 2016 compared to the previous year, while income protection sales increased by 17% during the same period, according to the reinsurer's annual Protection Pulse report for 2016. In addition, critical illness sales increased by 5.2% and life insurance sales were up by just 1.5%. Within the life insurance segment, guaranteed whole of life business has decreased "dramatically" by 18% compared to the previous year. Income protection in depth However, while the report said that income protection continues to be 'the star of t...
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