25% of consumers take estate planning actions Only 25% of consumers have undertaken any of the actions normally associated with estate planning, like making gifts to loved one, gifting a home to children etc. This is less than the 35% which have made a will: for almost half of consumers estate planning is associated only with making a will. Consumers who have taken any estate...
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CLEAR CONSUMER INTEREST IN VIRTUAL CONSULTATIONS, DIGITAL PROBATE APPLICATIONS, AND ONLINE COURT PROCEEDINGS Will writing is still an activity which most individuals fail to prioritise. It becomes of greater importance as consumers get older, and/or build up assets and this is reflected in our latest survey: as in previous years it is the older age groups – 55 and over – where will ownership is...
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Home Insurance Market 2019/20 have been turbulent years for home insurance in terms of claims, significant mergers and divestments and changed underwriting capacity. IRN Research estimates that home insurance gross written premiums (GWP) will reach around £7 billion in 2020, a rise of 2% compared with 2019. Predicting future premiums growth is very difficult at the moment given the uncertainties about when the effects of...
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Funeral Planning At the end of 2020, IRN Research expect there to be almost 1.6 million funeral plans in force (i.e. not drawn down). While the number has continued to rise in recent years, there has been a notable slowdown in growth in recent years. In 2020, IRN Research estimate that almost 160,000 new funeral plans will be sold. The number of new sales has...
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