Income protection sales reach highest level in 15 years

From PPI to the credit crunch

clock • 10 min read

Ruth Gilbert analyses the rebirth of income protection and the road to recovery

This article is inspired by a cheery sign from the Financial Conduct Authority (FCA). Hidden down the back of the sofa of the FCA website are details of the product sales its predecessor, the Financial Services Authority, thought were worth keeping an eye on back in 2005. For protection these are critical illness and income protection policies. The cheery sign is that in H1 of 2019, sales of income protection reached their highest level since FCA records began in Q2 of 2005. The fall and rise of income protection Despite being the most needed of the three long-term protection p...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • 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

Why we still need to talk IP

Why we still need to talk IP

"Increasing sales starts with education"

Matthew Chapman
clock 14 March 2024 • 3 min read
Cirencester Friendly pays out £9.3 million in 2023

Cirencester Friendly pays out £9.3 million in 2023

Nearly half of claims were from Millennials

Jaskeet Briah
clock 14 March 2024 • 2 min read
British Friendly pays out £5m in IP claims

British Friendly pays out £5m in IP claims

Provider pays out 89% of new IP claims in 2023

Cameron Roberts
clock 11 March 2024 • 1 min read