Strong sales of pure critical illness policies helped boost protection sales figures in the final quarter of last year, according to exclusive analysis from Equifax Touchstone.
Some £117.4m of life cover premiums were sold, up from £109.3m in the third quarter (an increase of 7.5%). However, sales for the year stood at £452.1m, down slightly on the 2014 total of £453.5m (a decrease of 0.3%). Term assurance accounted for 43% of protection sales in 2015. Mortgage term assurance accounted for 17.8% of sales. The data was collated from more than 90 major product providers with inputs from more than 11,000 advisers. Critical illness sales for the year grew by 33.3% compared to 2014, and sales of term assurance (including term policies with critical illn...
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