Market Trends

Hi everyone, we have Steve Baldry and Katie Dennehy with us from UnderwriteMe, talking about the changes that they have seen in the protection insurance market. There’s a lot of stats!We are looking at the types of advice that we are seeing advisers giving, the differences in consumer behaviour across genders and different age groups, plus the most common disclosures that we see in protection insurance applications.The key takeaways:Critical illness purchases are increasing, life insurance is reducing a bit and income protection is roughly the same.Data shows that it is still more men buying protection insurance than women, but we are seeing an uptake in women wanting income protection.Stress, anxiety, family history, back pain, high blood pressure and asthma, are some of the most disclosed conditions in protection insurance applications.Next time Matt Rann will be joining me and we are going to be talking about life insurance, critical illness and income protection for people that have had or currently have prostate cancer. There’s some really specific pieces of information that you need to know, to be able to research the best insurer for someone with this condition.. Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members.If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.