Another set of statistics about sales of pension term assurance was published yesterday, this time from HSBC which claims 84% of its life-only policies sold are PTA products.
The popularity of PTA is a hot topic among advisers and providers at the moment, but so far there does not seem to be a clear consensus about whether sales have really taken off. HSBC claims four out of five of its protection policies currently being sold are PTA products and it suggests the high take-up is a result of its support work for advisers and its attempts to educate consumers about the product’s benefits. Similarly, Royal Liver announced in July sales of PTA made up half of the provider’s new business and said this was due to features such as a switch option and waiver of prem...
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