IP Green Shoots?

Is your advice practice writing more IP new business in 2024?
  • Yes - slightly more (28%)
  • About the same (24%)
  • No - significantly less (19%)
  • No - slightly less (13%)
  • Yes - significantly more (12%)
  • Not sure (4%)

Our latest poll is based on the green shoots indicating IP new business sales are on the rise.

As we report this week, DEXX&R’s latest quarterly data reveals there was a 7.3% jump in individual income protection new business in the year to December 2023, although age-based and CPI increases to in-force policies are included in this number (see: Lift in Disability Income Sales…).

DEXX&R estimates around 60% of this increase across 2023 comprised ‘actual’ new business, rather than endorsements to existing contracts.

Is this trend reflected in your own advice practice? And has it continued in the first half of 2024? We know each of the life companies will be across their own data, but we’re keen to hear directly from you.

Your numbers might be up for different reasons, such as more advisers operating in your business or a change in client focus or an increased focus from existing advisers in your practice.

If your numbers are down, this might also reflect changes in adviser capacity or client focus. But whatever the outcome for you so far in 2024, does the experience in your own advice business reflect the green shoots of more IP new business coming online?

Tell us where you’re placed at the moment and we’ll report back next week…