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The Life Insurance Market
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The sickness insurance market has begun its recovery and reports similar business levels to a year ago.
This is revealed in figures from the Financial Services Authority (FSA), which show that the sale of pure protection dipped only by a fraction of a per cent (0.2 per cent) between April 2009 and March 2010.
The data also shows that pure protection sales from brokers, such as LifeSearch, have risen over the same period, up to 86 per cent.
Critical insurance cover has also seen sales rise – up 5 per cent for the standalone product and up 2 per cent when included with mortgage protection and term assurance.
Of all protection products sold, the FSA found that the amount of sales conducted by the big five insurers had risen three per cent to 60 per cent.
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