Excepted group life plans grew by almost 30 per cent over the last year, as individuals looked at ways to get round the new £1m pension lifetime allowance, according to Swiss Re’s Group Watch 2017 report.
The report shows that group risk products covered 520,000 more people in 2016 than in the previous year, an increase of 4.5 per cent on the previous year, bringing the number of people covered by group schemes to over 12m.
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