Uncertainty pushes up sales of personal insurance
Wed, 08 Jul 2009
Around two-thirds of advisers say that as a result of economic uncertainty today, personal insurance is becoming a higher priority, according to the 2009 Protection Review.

The review carried out a survey of personal finance society advisers and found that 63.2 per cent said that health and protection were becoming more important in financial planning .

While the review showed overall sales of individual long-term premium protection products had fallen by 15 per cent in the last eight years, 43.9 per cent of advisers said they expected to write more protection business in the next 12 months, while 48.7 per cent expected to write the same amount.

Andy Couchman, a protection consultant and co-author of the review, said IFAs stood at a crossroads in the current climate. He said: "Is protection the saviour for the struggling financial advice sector or is it just more doom and gloom and tough times ahead?"
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