Individual risk lump sum and individual risk income sales again both saw respectable lifts in the year to June 2024, following similar rises in the 12 months to March 2024 and December 2023.
Plan for Life’s latest analysis finds that in the June 2024 year individual risk lump sum sales rose 7.3% to reach $1,296.8 million while individual risk income sales were up 3.6% to $548.2 million.
These gains follow a rise in the year to March 2024 which saw individual risk lump sum sales also up 7.3% with new premium sales in the individual risk income market increasing by 6.5% (see: Lift in Lump Sum, IP Sales). There were also healthy gains made in the December 2023 year (see: Rise in Lump Sum, IP Sales).
Plan for Life’s latest analysis also found overall annual risk sales jumped 29.3% with group risk sales more than doubling – jumping 143.1%.
As to total inflows, Plan for Life says year-on-year overall risk inflows remained little changed declining only a marginal 0.6% to $18,187.6 million.
