Individual protection is in a position of strength at the beginning of 2018 according to early data but we should be cautious in the face of economic uncertainty and industry challenges, Scottish Widows' Johnny Timpson has advised.
Recent data from IRESS, Equifax Touchstone and other sources might reflect the growth of individual protection in 2017, however Johnny Timpson, financial protection technical and industry affairs manager of Scottish Widows Protect has urged the industry to avoid complacency in the face of an unstable economy. He said: "Let's not rest on our laurels as the next 12 months will bring continued economic uncertainty and stagnant wage growth." Factors such as increased living and transport costs, the Bank of England base rate and auto-enrolment pension contributions rates will all put added...
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