UK Protection Insurance 2018: Term and Whole of Life

Market: Financial Services

United Kingdom, 45 pages report, published by GlobalData

Report ThumbnailApril-2018
UK Protection Insurance 2018: Term and Whole of Life

Summary

The UK life protection insurance market for regular individual premiums grew in 2017, driven by growth of the term assurance market despite the whole-of-life market declining. Term market growth was primarily due to increased sales of non-mortgage term assurance policies by independent financial advisors, although sales in the direct channel are also increasing, reflecting demand to purchase life insurance online. Underwritten whole-

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  • List of Figures
  • Figure 1: The UK protection market grew by 9.0% in contracts and 8.4% in premiums year-on-year to 2017 9
  • Figure 2: Non-mortgage related term assurance products dominate the protection insurance market 10
  • Figure 3: Only mortgage term life with critical illness declined in contracts in 2017 11
  • Figure 4: Mortgage lending is forecast to continue growing, but at a slower rate over the next few years 13
  • Figure 5: First-time buyers have overtaken home movers in the number of loans made
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  • Table of Contents
  • 1. EXECUTIVE SUMMARY 2
  • 1.1. Market summary 2
  • 1.2. Key findings 2
  • 1.3. Critical success factors 2
  • 2. MARKET DYNAMICS 8
  • 2.1. Introduction 8
  • 2.2. The protection market saw growth in 2017 9
  • 2.2.1. The UK protection market grew in 2017, following three years of stagnation since the RDR 9
  • 2.2.2. Term products dominate the protection market 10
  • 2.3. The term market dictates the performance of the total protection market 11
  • 2.3.1. The term market recorded 13.5% growth in new business pr
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