With the future of critical illness (CI) still uncertain, is the protection market likely to see a boost in income protection (IP) sales over the next 12 months?
Market views Matt Pitcher, Towry Law CI has an uncertain future due to increasing rates of diagnosis and survival. Some policies have already removed conditions such as prostate cancer as the survival rates are now greatly improved. Inevitably, if this type of cover does completely disappear or survives so that it only covers a few high-risk conditions, then this may prompt people to seek alternative forms of protection. IP should not, however, be viewed as a replacement for CI because each product provides for different needs and benefits. CI pays a lump sum on diagno...
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