Protection sales climb 30%, but regulation "will cost consumers"

Sales in the protection market are still booming as critical illness and term assurance sales rose by over 30% last year, but consumers may pay a heavy price when regulation is introduced, says Swiss Re Life and Health. Sales figures were compiled from over 70 UK-based protection and life product providers for this year's Term and Health Watch 2003 to reveal over 2m term assurance policies were sold in 2002, a rise of 30.6% over 2001, at a time when investment and pension premiums have fallen. Critical illness policies saw the largest change as over 1.16m policies - 1m of which we...