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 pr...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
