{"id":68503,"date":"2023-11-07T08:16:58","date_gmt":"2023-11-06T22:16:58","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=68503"},"modified":"2025-03-14T12:02:22","modified_gmt":"2025-03-14T01:02:22","slug":"lump-sum-ip-new-business-sales-continue-decline","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2023\/11\/07\/lump-sum-ip-new-business-sales-continue-decline\/","title":{"rendered":"Lump Sum, IP New Business Sales Continue Decline"},"content":{"rendered":"

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The continuing decline in advised life insurance new business sales attracted much reader interest this week…<\/h3>\n<\/div>\n<\/div>\n

Retail advised lump sum and IP new business sales volumes continued their journey south in the year to June 2023.<\/p>\n

Plan for Life\u2019s<\/a> latest data reveals individual risk lump sum sales fell by 2.8% in the year to June 2023, while individual IP new business declined by a significant 10.0%.<\/p>\n

This latest data continues the trend in declining retail advised new business sales as reported in by Riskinfo in previous quarters (see: Risk New Business Sales Fall Again<\/a>).<\/p>\n

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Source: Plan for Life.<\/figcaption><\/figure>\n

The research firm’s latest data for the June 2023 year reports, however, that total risk inflows (which include annual CPI and age-based increases applying to inforce business) rose 2.1% from $17.7bn to $18.1bn, with individual risk income inflows lifting 3.8%.<\/p>\n

Inflows for individual risk lump sum were 1.9% higher, while individual IP premium inflows rose 3.8% during the period.<\/p>\n

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Source: Plan for Life.<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

  The continuing decline in advised life insurance new business sales attracted much reader interest this week… Retail advised lump sum and IP new business sales volumes continued their journey south in the year to June 2023. Plan for Life\u2019s latest data reveals individual risk lump sum sales fell by 2.8% in the year to […]<\/p>\n","protected":false},"author":24,"featured_media":68508,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,8291],"tags":[],"class_list":["post-68503","post","type-post","status-publish","format-standard","has-post-thumbnail","category-general","category-story-of-the-week"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/68503","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=68503"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/68503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/68508"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=68503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=68503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=68503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}