Protection sales up 14% during 2016 - Equifax Touchstone

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There has been a 'resilient' performance of the protection market in 2016 with sales of £521.0 million, up from the 2015 total of £457.3 million (+13.9%), Equifax Touchstone analysis has revealed.

However, the intermediary database provider said while overall sales improved in 2016, the last quarter of 2016 saw lower sales compared to the previous three months. For October to December £131.5 million of cover was sold, down from £139.3 million in the third quarter (-5.6%).  The data, which is collated from over 90 major product providers, with inputs from more than 11,000 advisers, shows that term assurance accounted for 38.7% of protection sales in 2016, while mortgage term assurance accounted for 16.5%. Term policy sales grew by 102.4% compared to 2015, critical illness sal...

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