{"id":52670,"date":"2020-10-20T14:34:43","date_gmt":"2020-10-20T04:34:43","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=52670"},"modified":"2020-10-20T15:45:57","modified_gmt":"2020-10-20T05:45:57","slug":"risk-inflows-down-although-drop-in-sales-lessens","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2020\/10\/20\/risk-inflows-down-although-drop-in-sales-lessens\/","title":{"rendered":"Individual Risk Sales Continue Decline"},"content":{"rendered":"

Life insurance risk market inflows were down in the 12 months to June 2020, as were individual risk income and lump sum sales, albeit at a lesser rate than in the March 2020 and December 2019 years.<\/p>\n

Plan for Life\u2019s<\/a> latest Overview of Life Insurance Risk Market Inflows & Sales<\/em> report found that overall risk inflows fell 6.4 percent in 2019\/20 from $17 billion to $15.9 billion.<\/p>\n

The company says that most companies reported decreases but market leader TAL (13.2 percent) and ClearView (7.2 percent) posted increases.<\/p>\n

It says that total reported Premium Sales jumped by 23.6 percent, due to a more than doubling of Group Risk sales, “…completely reversing a similarly sized drop that was experienced in the previous year”.<\/p>\n

\"\"<\/a>Meanwhile, individual risk income total sales fell 8.1 percent in the 12 months to June 2020, while individual risk lump sum sales fell 9.2 percent.<\/p>\n

However, this compares with a fall in the March 2020 year of 9.2 percent for individual risk income sales and a drop of 10.4 percent for individual risk lump sum sales.<\/p>\n

Sales declined even more for individual risk income sales in the December 2019 year, down 14.6 percent, while individual risk lump sum sales were down 20.2 percent for that year.<\/p>\n

\"\"<\/a>
Life Insurance Risk Premium Inflows & Sales for Year Ended June 2020. Source: Plan For Life<\/figcaption><\/figure>\n

Plan for Life says that in the latest June 2020 year, new sales in the individual risk income market saw both MLC (9.0 percent) and BT \/ Westpac (3.9 percent) report higher sales.<\/p>\n

For the individual risk lump sum sales, however, all company sales were lower.<\/p>\n","protected":false},"excerpt":{"rendered":"

Life insurance risk market inflows were down in the 12 months to June 2020, as were individual risk income and lump sum sales, albeit at a lesser rate than in the March 2020 and December 2019 years. Plan for Life\u2019s latest Overview of Life Insurance Risk Market Inflows & Sales report found that overall risk […]<\/p>\n","protected":false},"author":24,"featured_media":52681,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,3],"tags":[],"class_list":{"0":"post-52670","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-company-news","8":"category-general"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/52670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=52670"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/52670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/52681"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=52670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=52670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=52670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}