To retirement or not to retirement

IP is the Question

clock • 3 min read

The Income Protection Task Force (IPTF) discusses how short-term income protection may be impacting customers’ retirement plans.

In the last of our articles digging into Iress's data to better understand the income protection (IP) market we're looking at some of the differences between short-term IP (for one, two or five yrs) and IP to retirement. There is no doubt that much of the growth in the IP market has been fuelled by a growth in products that restrict the IP payment. Last year slightly more short-term products were bought than to retirement products, a seismic change from a decade ago when over 90% of new IP policies were to retirement. This is a factor in explaining why the growth in IP premium being writ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Income Protection

Partner Insight: New Age of Income Protection

Partner Insight: New Age of Income Protection

From Love Island to loving income protection, for Gen Z income protection should be "100% my type on paper", however, also like on Love Island, this does not guarantee compatibility.

Julie Thompson, Protection Proposition Manager, Scottish Widows.
clock 03 December 2024 • 6 min read
Iress adds ex-smoker questions to IP service

Iress adds ex-smoker questions to IP service

Additions to The Exchange

Cameron Roberts
clock 28 November 2024 • 1 min read
Half of parents able to get by for six months without income

Half of parents able to get by for six months without income

Vitality research shows

Jaskeet Briah
clock 25 November 2024 • 1 min read