Sales of individual income protection insurance policies are enjoying a renaissance according to reassurer ERC Frankona.
The re-assurer says sales of individual policies are nearly back to their 1991 level. Sales last year topped 158,000 close to the previous best of 160,000 in 1991.
By the end of 1998 1.1m policyholders had income protection, a figure which represents less than 4 per cent of the working population. But another 1.45m are covered by group schemes.
ERC Frankona is predicting another boost for the IP market this year, thanks to the Government's welfare reform measures further reducing the level of state provision.