UK Whole Life Insurance Sector Discussed in New Timetric Report Published at MarketPublishers.com21 Nov 2014 • by Natalie Aster
LONDON – Providers will likely focus on promoting a number of other benefits of the whole life product, in addition to inheritance tax (IHT) planning. Whole life insurance policies can be utilised to provide mortgage or family protection, or just leave a legacy on death and share funeral expenses.
A soaring number of retired persons are also making resort to equity release schemes (ERS), considerably reducing their estate’s value, to fund long term care costs. In case one takes out a whole life policy earlier in life and write it under trust, the cash payout from the policy on death can be made use of by beneficiaries to replace a portion of the estate value meant for paying for care fees.
The launch of the Retail Distribution Review (RDR) also encouraged providers to prune down protection propositions and cancel the element of investment in whole life contracts. The market’s growth is anticipated to be fuelled by sales of protection-only, non-profit products.
New research report “Whole Life Insurance in the UK, Key Trends and Opportunities to 2018” prepared by Timetric canvasses the whole life insurance market in the United Kingdom.
The study offers granular historical valuations for 2009–2013 and forecasts to 2018 with respect to the UK whole life insurance segment and also each of its categories. It analyses the new business premiums collected in the domestic whole life insurance market, provides an in-depth overview of key market dynamics and drivers, as well as discusses key products and distribution channels. The report scrutinises the competitive landscape, including a review o the best performers as of 2013 alongside a SWOT analysis of the sector. Information on major deals and news, regulatory aspects impacting the market and its players, as well as economic background is provided. Additionally, the study gives details about the leading companies in each region, covering their products, major facts, employees, and key competitors.
Top companies reviewed: Axa UK Plc, Engage Mutual Assurance, Aviva Plc, Old Mutual Plc, Legal & General Group Plc, Lloyds Banking Group Plc, Prudential Plc, Wesleyan Assurance Society, The Royal London Group, and Liverpool Victoria Group.
Whole Life Insurance in the UK, Key Trends and Opportunities to 2018
Published: November, 2014
Price: US$ 2,795.00
More new studies by the publisher can be found at Timetric page.