Cut-price crisis?

The same story has been witnessed across the protection market in the last few years. Products that had otherwise enjoyed growing numbers of new policy sales year on year begin to witness slowing growth before sales start to fall. The picture is the same in the critical illness (CI), income protection (IP) and whole of life markets. Now it appears that term assurance, the one-time darling of the protection sector, is suffering a similar fate. According to Swiss Re's Term and Health Watch 2005, sales of individual term assurance contracts dropped to 1,767,208 in 2004 from a record high of 2...