PMI falls almost 10% as IPT costs double

The number of people covered by personal health insurance has dropped to 1.2 million - a fall of nearly 10% over the last four years - latest figures from Association of British Insurers (ABI) have revealed. Meanwhile, the number of people covered by corporate health insurance also fell to 3.5 million (5%) over the same four-time period - during which time the rate of IPT has doubled, from 6% to 12%. Roshani Hill, head of protection and health at ABI, called the gradual tax increases of the past five years as a "false economy". 'Cut the tax' Over the course of four years, health...