Individual IP

Last year saw the individual income protection (IP) market record another disastrous end-of-year result, with sales of new policies falling from 216,169 in 2003 to 162,061 in 2004, according to figures from Laing & Buisson's Health and Care Cover UK Market Report 2005. This fall followed a 6% dip in the volume of demand for individual IP in 2003, the first time the sector experienced an annual decrease. Unfortunately, the trend seems likely to continue, as findings from the Association of British Insurers show that sales continued to drop in Q1 and Q2 2005. "New policies have certainly gon...