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Protection sales plummet 15% in eight years.
Byline: David Pawsey
Protection sales have fallen dramatically since 2000, according to the 2009 Protection Review.
Speaking at the 2009 Protection Review conference this morning (25 June), which is described as the definitive annual review of the UK's multi-billion pound health and protection insurance industry, Andy Couchman, protection consultant and co-author of the review, said overall sales of individual long-term premium protection products had fallen by 15 per cent in the last eight years.
Standalone critical illness was the worst hit, with sales currently standing at 27.3 per cent of the amount that was sold in 2008.
Comparatively, in 2007 standalone critical illness sold 85.9 per cent of the volume it had in 2000.
Stuart Scullion, sales and marketing director for the Private Health Partnership, said this was true ...
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Source: HighBeam Research, Protection sales plummet 15% in eight years.