Sales of protection products 'soared' in the first quarter of the year, reaching record highs not seen since the last quarter of 2012, according to research from Equifax Touchstone.
Protection sales for the first quarter of 2016 stood at £118.4m, up £7.2m (6.5%) on the same period last year and £1.3m (1.1%) on the previous quarter. The data, which is collated from all the main protection insurers, found term assurance accounted for the largest portion of sales for the quarter, at £46.3m (39.2%). Term assurance with critical illness followed in second place, bringing in £24.1m (20.3%) of sales. Meanwhile, critical illness cover saw the biggest increase in sales quarter-on-quarter, rising 14.8% (£1.3m) on the last quarter of 2015. Mortgage term assurance sale...
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