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IFAs play major role as Unum increases income protection sales by a third

Income protection insurer Unum saw new business jump by 36 per cent in the first seven months compared with the same period last year.

New premiums received to the end of July totalled £23m, up from £14.7m in 1999. IFAs played a major role in this success as their sales of Unum&#39s core product reached £17m. In July alone, IFA sales of the income protection plan were £2.5m.

The company is runninga series of roadshows to raise its profile with IFAs and says recent sales figures indicate the strategy is working.

Unum aims to continue to grow its stake in the income protection market.

Director of marketing Eugene McCormack says: “The roadshows demonstrate our ongoing commitment to IFAs, with the aim of equipping them with the tools necessary to expand this largely untapped marketplace. Many people remain oblivious to the hardships often encountered when a family&#39s main breadwinner is off work, so it is important we continue to take the income protection issues to indivi-duals and businesses alike.”

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Scottish Amicable Mortgage Protection – 8th September 2000

Type: Level or decreasing term assurance offering single or joint cover. Accident, sickness & unemployment cover and critical illness options available.Minimum premium: £5 a month, £50 a year.Minimum-maximum terms: 5-40 years.Charges: Policy fee £2.50 a month.Commission: Subject to negotiation.Contact: www.scotam-adviser.co.uk

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