Individual IP Sales Rise

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Individual Income Protection inflows increased by 4.2 percent in the year to March 2021 while reported sales in this sub-market were up nine percent, compared to those recorded in the previous 12 months, according to a new report.

Plan for Life’s Life Insurance Risk Premium Inflows & Sales Year Ended March 2021 also found that in the Individual Risk Lump Sum Market (Term Life, Total & Permanent Disablement and Trauma Insurance) Premium Inflows rose 2.9 percent while overall annual Risk Lump Sum sales were also up a little by 1.7 percent to $1.187 billion.

A statement from the company says that life insurance risk market inflows rose by 1.2 percent over the year from $16.5 billion to $16.7 billion.

Plan for Life also notes that Annual Risk Sales decreased by 15.4 percent due “… in particular to reported Group Risk Sales falling by 40.3 percent after more than doubling in the previous year.”

Courtesy of Plan for Life.
Courtesy of Plan for Life.


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