Advisers are optimistic about the future of the income protection (IP) market despite overwhelmingly expecting fewer IFAs to be practising in the sector and fewer products being available, new research says.
The study from Cirencester friendly also shows they appear happy with the expansion of tele-underwriting but the majority do not know the difference between big-T and little-T. The results show more than half of those advisers surveyed by the specialist IP provider expect a higher volume of more diverse products to be sold in the next three to five years. It says 51% of respondents believe there will be more consumers purchasing IP products in five years time, compared to 29% who felt the opposite, while 22% were not sure. A further 58% also expect the level of product innovation t...
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