iPipeline records recent business trends for income protection (IP) it believes are related to coronavirus
Last week, iPipeline saw new income protection (IP) business up 42% compared to mid-February and the most growth was for plans with short-term/more immediate cover. Of these, 25% has deferred period of zero, one, or two weeks (compared to 10% in mid-February). Commenting on the figures, Roy McLoughlin, associate director at Cavendish Ware and co-chair of the IPTF, said: "These figures do not surprise us because in uncertain times people will naturally look at catastrophic events and the subject...
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Totalling £3.4 million
52% y-o-y growth