Income protection on the rise: ABI

The association states that individual IP policies hit 247,000 last year, a 16% increase compared to 2022. This number is the highest on ABI record, with 97% of the products being sold with advice according to the study. Standalone critical illness also saw a rise up to 75,700 policies sold, showing a 7% rise year-on-year. Yvonne Braun, director of policy, long term savings, health and protection, ABI, said: "Financial resilience – the ability to withstand a financial shock – is a hugely important issue. "It's encouraging to see that so many people recognise that income protection ...