Group IP

Professional Adviser
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Many providers believe that group income protection is due a revival. Yet the issue on which these hopes are pinned may be the market's undoing, says Peter Madigan Click here to download pdf

In a market hit by a slump in sales, group income protection (IP) appears to have weathered the storm better than most in the last twelve months. Although at the time of going to press there was no independent data available on precisely how the group IP market did in 2004, anecdotal evidence from various providers gives a muddy picture of how the sector performed. Norwich Union found that the group income protection market remained static in 2004, yet despite this "we saw a 35% increase in new business, but very little of this new business came from outside the existing market," says Nick...

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