The protection market has started to recover over the last year, but it is being propped up by resurging critical illness sales, according to FSA figures.
Sales of pure protection products dipped just 0.2% to 597,986 between April 2009 and March 2010, a difference of 1,217 in the previous year. This is a significant strengthening from 2008/09 when the total fell by 69,509 from the year before. And it appears advice is still vital to the protection sales process as 92% of contracts were arranged on an advice basis (93% in 2008/09). The data also showed that 86% of all pure protection contracts were sold through non-providers (85% last year). However, fears voiced by protection advisers about the dominance of just a few providers wi...
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