Predictions that a slowdown in the housing market could lead to a fall in term assurance sales means that advisers should be looking at other ways to keep the sector strong. Angela Faherty reports Click here to download pdf
Looking back over the last 12 months, it is fair to say the UK term assurance market has had a good year. Sales of term assurance policies have continued to grow and this trend looks set to continue in the future. Boom time According to Swiss Re's Term & Health Watch 2003, new sales of individual term assurance rose from 1,571,062 in 2001 to 2,051,682 in 2002 – an increase of 30.6%. It is the eighth successive year that sales have increased in the market; and while figures from 2003 have yet to be collated, further market growth is expected. "The indications are that 2003 was anoth...
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