iPipeline has reported a 36% increase in the number of completed new business protection applications in Q1 2017, based on provider supplied data, as compared to same period last year.
Income Protection is one of the fastest growing product lines for iPipeline - transactions increased by 25% between Q4 2016 and Q1 2017 and by 60% from Q1 2016 to Q1 2017. Whole of Life and Over 50s plans saw the strongest growth, with a 200% increase from Q1 2016 to Q1 2017. Multi-benefit plans have been particularly popular when buying Family Income Benefit, iPipeline identified. In March 2017, 60% of Family Income Benefit transactions and 32% of Income Protection transactions were generated as part of a multi-benefit plan. iPipeline also noted that when Income Protection...
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