iPipeline reports recent IP sales spike due to coronavirus

Last week, iPipeline saw new income protection (IP) business up 42% compared to mid-February and the most growth was for plans with short-term/more immediate cover. Of these, 25% has deferred period of zero, one, or two weeks (compared to 10% in mid-February). Commenting on the figures, Roy McLoughlin, associate director at Cavendish Ware and co-chair of the IPTF, said: "These figures do not surprise us because in uncertain times people will naturally look at catastrophic events and the subject of protection will inevitably arise. Advisers should be prepared to deal with questions and...