The guaranteed acceptance over-50s market has seen spectacular volume growth over the last few years. Its simple marketing message, affordable premiums and a surge in interest from bancassurers have made this the star player of the life insurance market.

IFAs still account for around half of all premiums, showing that despite a drive to simplify products, consumers are still wary of buying without advice.

The high street banks could be key to future growth. Most people prefer to buy cover face-to-face, making the branch network a vital distribution tool. For modest levels of cover, premiums are fairly low, potentially making it a relatively easy product to sell in-branch.