Co-chair of the Income Protection Task Force (IPTF), Andrew Wibberley, examines the the state of income protection sales last year and why he's optimistic about the future of the product
The Swiss Re Term and Health Watch report was a reality check on many of the fine, optimistic words written about Income Protection (IP) over the last 15 months. The annual research showed a 9.5% drop in year-on-year new policy sales from 179,605 in 2019 to 162,515 in 2020. Before getting too despondent, it is worth considering an alternative view where we start by observing that in spite of all the incredible challenges 2020 bought, IP sales have still risen 34% from the 121,084 made in 2017....
L&G veteran Richard Kateley says more can be done to increase engagement with products
Totalling £3.4 million
52% y-o-y growth
As part of COVER’s new eBook in partnership with Royal London, we asked advisers about the barriers they frequently face when talking about protection – and what they do to jump over them
Ahead of Mental Health Awareness Week