Income Protection & Critical Illness Insurance Market in the UK Discussed by Timetric in Research Report Available at MarketPublishers.com
19 Mar 2015 • by Natalie Aster
LONDON - Unfavorable market conditions did not lead to an increase sales within the income protection category of insurance over the past few years. They remained flat. However, this category and the critical illness category are expected to expand at a moderate rate in the near term due to a number of factors such as an increase in life expectancy, improvement in economic conditions, growth of demand for group risk benefits from employers, and more.
The categories are forecast to grow at a CAGR of over 3.8 percent through 2018 to amount to more than GBP 555 million by 2019.
Benefits provided by income protection and critical illness categories will be promoted in the workplace by providers as well as advisors, thus creating new opportunities for the market growth.
In the meantime, new business premium in the income protection category are expected to almost hit the GBP 215 million mark in 2018, with its CAGR being slightly over 3.8 percent. Group income protection sales are likely to hold the largest slice of this pie, though individual income protection expected to expand in a swift manner. The recently launched the Seven Families campaign is set to result in an increase of the income protection awareness.
Cutting-edge research report “Income Protection and Critical Illness Insurance in the UK, Key Trends and Opportunities to 2018” elaborated by Timetric provides an in-depth analysis of the income protection and critical illness insurance market in the UK. The study offers a comprehensive overview of the market; scrutinizes its dynamics and examines its drivers. The report uncovers a size of the market and covers the competitive landscape. It highlights distribution channels and contains profiles of major players. The research study also uncovers latest market news, data on latest deals and information on the regulatory environment. Future market outlook through 2018 can be found in the report too.
Income Protection and Critical Illness Insurance in the UK, Key Trends and Opportunities to 2018
Published: February, 2015
Price: US$ 2,795.00
More insightful research reports by the publisher can be found at Timetric page.