The whole of life market has been hit with yet another year of poor sales figures, but is there a way that the sector can grow to offer a more up-to-date offering to consumers? Lucy Quinton reports. Click here to download pdf
More depressing than the January blues was the news that the whole of life (WOL) market had suffered yet another abysmal year of sales figures. Declining sales figures have plummeted to new depths, according to figures from Swiss Re's Term and Health Watch 2007, which reported a drop from 205,532 in 2005 to 195,141 in 2006 – the lowest it has ever been. This is a decrease of 5.1% down from the year before. WOL has long existed in the industry to fund inheritance tax (IHT) liabilities and to provide for succession planning in the business sector, in addition to being targeted at people age...
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