Glimmer of light

Professional Adviser

With the ABI now turning its attention to income protection, what can be done to give hope to a product that has suffered yet more declining sales? Lucy Quinton investigates Click here to download pdf

The latest figures from the Association of British Insurers' (ABI) show that the individual income protection (IP) market recorded a dismal end-of-year result in 2005, with sales of new policies falling yet again to 130,000. The news will come as no surprise to industry experts, and unfortunately, it looks like the malaise is set to continue as the market refuses to buck the trend of decline experienced since 2002 when the number of new contracts dramatically dropped from 199,000 to 158,000 in 2003. Mutual mistrust Defaqto recently published its annual IP report detailing the somewhat lac...

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