Record numbers of people have taken out income protection insurance to protect their finances against the risk of a serious accident or illness stopping them working. Sales of individual income protection policies hit a record 247,000 last year Sales of standalone* critical illness policies totalled 75,700 – nearly four times higher than ten years ago| www.abi.org.uk
63 per cent of people do not hold a life insurance policy, often thinking cover is too expensive| DLG Corporate Corporate Website
Figures from the ABI and Group Risk Development (GRiD) reveal that individual and group protection policies have paid out a combined record of £7.34 billion in claims to support people experiencing bereavement, illness and injury in 2023.| www.abi.org.uk