Income protection to hit 20% of Openwork sales in 2021

Openwork stated that sales of income protection have grown year-on-year since 2014, with the results of 2021 down to its "network-wide drive" to support advisers. Its "in-house dedicated" Protection Challenge Team was established as part of Openwork's "data-driven focus" on supporting mortgage, wealth and protection advisers to enter new markets and offer new products. Total claims paid out for life and critical illness were £88.3 million for around 1,200 claims last year across the network, equivalent to more than £7 million paid out a month to 100 clients. The average age of clie...