Protection product sales hit five-year high - Equifax Touchstone

Year-on-year sales up 7%

Victoria McKeever
clock • 1 min read

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...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Protection

Is price really still king? Why the protection market needs to evolve

Is price really still king? Why the protection market needs to evolve

Data and process improvement will be 'battlegrounds of tomorrow'

Paul Yates
clock 18 March 2024 • 3 min read
Protection sales down 102,000 in 2023; adviser focus labelled 'crucial'

Protection sales down 102,000 in 2023; adviser focus labelled 'crucial'

'Income protection products are more important than ever'

Cameron Roberts
clock 26 February 2024 • 1 min read
'What if': Why business protection advice is so important

'What if': Why business protection advice is so important

'Advisers need to support their business owner clients'

Naomi Greatorex
clock 08 February 2024 • 4 min read