The UK retail cash plan market has broken through the half a million customers barrier, Health & Protection can exclusively reveal.
Health & Protection’s landmark Retail Cash Plans and Dental Plans Report is the first-time detailed analysis of the markets has been made publicly available.
The full report and its findings are available for financial advisers and can be downloaded for free from this link or by clicking the front page below.
It reveals that more than 504,000 people owned a retail cash plan at the end of 2020, making it just over a third the size of the corporate cash plan market when comparing to figures from Health & Protection’s sister title Corporate Adviser.
Unlike the corporate cash plan sector where the market share is fairly evenly distributed among five providers, the retail space is dominated by Simplyhealth, which reported a 60% market share out of those providers who responded.
Sentiment around the market is generally good, with providers acknowledging that 2021 has been tricky but there is hope that premium income will rise in 2022.
