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Life and Health Protection
£2500

Content
  • Introduction & ScopeToggle
    • Report coverage
    • Definitions
    • Premiums
    • Methodology
    • Abbreviations
  • Report SummaryToggle
    • £20 billion spent on protection
    • Ownership circle of life
    • Four approaches to life cover ownership
    • Two approaches to widening the customer base
    • How much life cover?
    • Life premiums
    • CI and IP cover versus premiums
    • Four approaches to purchasing life cover
    • Three approaches to purchasing CI and IP policies
    • Distribution
    • Market shares
  • Perceptions of Life and Health CoverToggle
    • Security but at a price
    • Life insurance perception clusters
    • Worth it William and Play it Safe Prudence the most willing to talk
    • Three critical illness and income protection groups
    • All the groups are related
  • Policy OwnershipToggle
    • Less than half of adults have life cover
    • Life assurance becomes more relevant as consumers age and change lifestage
    • But the cost of children is also causing some families to go uncovered
    • Mortgage holders taking a big risk
    • The great uncovered
    • Working the prime determinant of critical illness and income protection cover
    • Life and illness cover strongly influenced by the perception of need
    • Completely unprotected versus completely protected
    • Not all risks can be covered
  • How Do Consumers Protect Their Life Risks?Toggle
    • Those covered for life risk have whole-of-life policies
    • Low-cost plans taking over the whole-of-life business
    • Over half of term insurance holders have level term insurance
    • A quarter of policyholders have joint life cover
    • Critical illness rider benefits
    • Who opts for waiver of premiums?
    • Few have their policies written into trust
    • A graphic view of life insurance ownership
  • Life Sums InsuredToggle
    • Average person insured for £101,000
    • Term insurance used for the largest risk
    • Are consumers adequately covered?
    • Buy once, go under-insured forever?
    • A £3 trillion protection gap
    • Are consumers adequately covered? (1)
    • Increased cover the route to a better financial future
  • The Cost of Life CoverToggle
    • Almost a third do not know the cost of their cover
    • Premiums vary with risk
    • The ending of gender pricing
    • Over-50s policies don’t look good value for money
    • Most premiums are guaranteed and regular
  • Cover versus Premiums, the Essential Balance Act: Health CoverToggle
    • Little certainty regarding payments for health cover
    • How much do consumers pay for their health cover?
    • CI and IP ease the pain but don’t end it
    • A matter of financial life or death?
  • Drivers of Life Cover PurchasingToggle
    • Sum insured and premiums the prime drivers
    • Six choice factors
    • Four approaches to purchasing
    • Purchasing factors vary by product
  • How Consumers Purchase Life PoliciesToggle
    • Can existing policyholders make informed choices?
    • Reading the documents makes you better equipped to buy
    • Age a prime influence on knowledge
    • Friends and family the most important information source
    • Six purchasing groups
    • Four purchasing typologies
  • Drivers of Health Cover PurchasingToggle
    • Sum insured and premiums the prime choice factors
    • Five choice factors
    • Three approaches to purchasing
    • How IP and CI policies are purchased
    • Again, reading the documentation leads to better decisions
    • IFAs the most important information source
    • Four purchase typologies
  • DistributionToggle
    • IFAs dominate distribution
    • Retail Distribution Review
    • Could online have a bigger role in the future?
    • And will supermarkets muscle in?
  • Market SharesToggle
    • UK Life
    • Friends Life
    • Lloyds Banking Group
    • Prudential UK/PruProtect
    • Legal & General
    • Aviva
  • Market Size and ForecastsToggle
    • UK life business declines
    • APE pure protection sales fall to around £1bn
    • Critical illness in a critical state
    • In-force premiums fall below £20 billion
    • Insurers pay out £1.9bn in 2010
    • Forecasts
  • AppendixToggle
    • Further analysis tables
  • DownloadsToggle
    • Report PDF
    • Questionnaire
    • Datasheet
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