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Statistics on the very old including centenarians

Catherine Foot, director of the Standard Life Centre for the Future of Retirement, comments on ONS statistics on estimates of the very old, including centenarians:
Posted on Wednesday Sep 3

Consequences of increasing longevity for the UKs workplaces

As life expectancy continues to rise, the traditional structure of “learn, work, retire” is becoming increasingly outdated, undesirable and unsustainable for both individuals and employers.
Posted on Wednesday Aug 27

Warning against Budget price increases on private health

Hike in IPT could prove counter-productive for the UK economy by limiting take up of private healthcare options. Could create a ‘double whammy’ impact, increasing costs for both businesses and workers. Tax rise would push more people towards the NHS and risk undermining gradual progress on reducing NHS waiting lists.
Posted on Wednesday Aug 27

Third of over 55s would quit over lack of flexible working

37% of workers aged over 55 say they would consider leaving their job if their employer restricted ability to work flexible hours, and 25% would take a pay cut in exchange for more flexible working options.
Posted on Thursday Aug 14

Beneficiary nomination a suitable alternative to trusts

Since launching in March, 60% of life insurance policies have included beneficiary nomination. Before its introduction, 40% of The Exeter’s life insurance policies, on its Real Life product were placed into trust.
Posted on Thursday Aug 7

Underwriting accuracy boosted by wearable health technology

WTW and Klarity, are working together to help life insurers improve pricing accuracy by integrating wearable technology and data into their underwriting processes.
Posted on Tuesday Aug 5

India life insurance market to surpass USD170bn by 2029

The life insurance market in India is projected to grow from INR9.2 trillion ($110.2 billion) in 2024 to INR 14.6 trillion ($170.0 billion) in 2029, registering a compound annual growth rate (CAGR) of 9.6% in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company.
Posted on Wednesday Jul 23

Gen Z leads the charge towards healthier living

Younger generations are leading the way with a wellness revolution, according to a survey from L&G. A new poll, of 2,000 people, shows Gen Z is prioritising physical health, mental wellbeing and healthier habits more than older generations.
Posted on Wednesday Jul 16

Mortality continues to fall

The Continuous Mortality Investigation (CMI) publishes frequent mortality analysis for England & Wales through its mortality monitors. Today’s updates cover the period to 27 June 2025.
Posted on Wednesday Jul 9

Over 16m say private medical insurance is essential

36% of respondents, the equivalent of 16 million working-age adults, considered private health insurance as the most important, non-compulsory insurance to have. 33% of respondents, the equivalent of 14.7 million working-age adults, said life insurance was the second most important insurance.
Posted on Tuesday Jul 1

Comments on the CMI 2024 model

WTW and LCP comment on the CMI 2024 model
Posted on Monday Jun 30

CMI Model shows rise in cohort life expectancy

The Continuous Mortality Investigation (CMI) has released the latest annual update to the CMI Mortality Projections Model, CMI_2024. The CMI Model is used by UK pension schemes and insurance companies which need to make assumptions about future mortality rates.
Posted on Monday Jun 30

IPT receipts hit record GBP1.48bn in May 2025

This morning’s HMRC tax receipts update shows that Insurance Premium Tax (IPT) receipts recorded a total of £1.48 billion in May 2025, an increase of £50 million on the same month last year. That brings the total IPT collected in the first two months of the 2025/26 financial year to £2.13 billion, an increase of £83 million compared to the same period in 2024/25 (£2.05 billion).
Posted on Friday Jun 20

Private health boom hits record highs in 2024

PMI-funded admissions up 6% y-o-y in 2024 marking fourth year of consecutive growth. Follows significant demand among businesses to implement PMI into workforce strategy.
Posted on Tuesday Jun 17

Women twice as likely to NOT have life insurance as men

A new report has revealed women are considerably underinsured compared to men. The 2025 Life Insurance Index, commissioned by UK-lifeinsurance.com, quizzed 2,000 Brits across the country on what they knew about the policies, and how many held them.
Posted on Tuesday Jun 10

For 2 in 5 a major financial decision is a walk in the park

The revitalising benefits of a walk are well known but for two in five (38%) UK adults it’s also a time to mull over major financial decisions according to new research from Standard Life, part of Phoenix Group.

Posted on Wednesday Jun 4

Life insurance ranks lowest for customer satisfaction

Life insurance providers rank the lowest amongst the reported insurance categories in terms of customer satisfaction and policyholder understanding. This underscores a marked opportunity for life insurers to enhance consumer engagement, increase trust and improve market outcomes
Posted on Tuesday Jun 3

Record year for private healthcare in 2024

The latest Private Healthcare Information Network (PHIN) data on private healthcare admissions published today reveals that there were more private hospital admissions in the UK in 2024 than in any previous year on record.
Posted on Tuesday Jun 3

National Cancer Survivors Day

With National Cancer Survivors Day on 1 June 2025, GRID reveals that during 2024, cancer was the main cause of claim across all three group risk benefits (employer-sponsored life assurance, income protection and critical illness).
Posted on Monday Jun 2

2024 was a bumper year for income protection

Sales of new Income Protection policies grew by a bumper 18% in 2024, Swiss Re’s latest Term & Health Watch report reveals.
Posted on Wednesday May 28

Over 7m take out Private Medical Insurance as NHS lists grow

7.6 million adults held a PMI product in 2024, up by nearly one million over the past four years with nearly a third making a claim in the last two years. Healthcare cash plan take up also grows by over 1 million to 5.1 million adults with 50% making a claim in last two years. Figures highlight the growth in health insurance market as the surge in NHS waiting lists drives businesses to increase employee health benefits.
Posted on Wednesday May 21

US health insurance uptake uncertainty amid Trumps policies

Fewer than half of low-income individuals in the US have private health insurance*. Trump’s politics bring uncertainties to the pharmaceutical industry, which will likely translate into higher health insurance rates for consumers, potentially pricing out Americans with lower disposable income, while leaving others underinsured, according to GlobalData.
Posted on Tuesday May 20

4 in 10 SMEs strained by sickness absence

New research from Canada Life reveals employee illness is regularly impacting small businesses’ productivity, but they don’t necessarily know how to tackle it or where to turn for help.
Posted on Thursday May 15

The importance of Mental Health Awareness Week

Phoenix Group marks Mental Health Awareness Week with comments from Chief People Officer Sara Thompson, and colleague network Mind Matters co-chair David Lavender
Posted on Monday May 12

Finding cover for those with pre-existing medical conditions

62% of advisers state finding cover for clients with pre-existing medical conditions is “difficult”, finds research from The Exeter. The ability to cover clients with pre-existing conditions is the most important element of working with an insurer, according to almost a third of advisers.
Posted on Friday May 9