Protection product sales have reached a five-year high, with total sales up 1.4% in the third quarter of 2017 and 7% year-on-year, according to data from Equifax Touchstone.
The intermediary database provider reported total sales of protection products increased to £149.1m between July and September. The data, collated from 22 protection providers and more than 11,000 advisers, showed income protection product sales in the third quarter increased by 14.2% on the previous three months - from £9.4m to £10.7m. Mortgage term protection sales continued to grow, with an increase of 3.8% in the third quarter, following a 20.7% increase in the second quarter. Whole of life and term with critical illness policies also enjoyed quarterly growth, at 4.5% and 3.5% res...
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