Life Insurance News: FSA Calls for Better Treatment for Life Customers
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Article Published: 29-May-2007
The Financial Services Authority (FSA) has called for the better treatment of British life insurance customers after concerns were raised that some insurance advisors are not providing adequate advice.
Sarah Wilson, an FSA director, commented that the findings from its research were a significant number of people.
"Without ongoing advice, consumers might not be able to make properly informed decisions about their with-profits policy. Poor after-sales information for these and other policy types makes it harder for consumers to understand the performance of their policies and the product features they have paid for," she said.
The FSA has called upon insurance companies and advisors to examine how the companies provide information to their customers and has warned of fines for those that do not improve the standard of their advice.
Source: Insurance-4-life.co.uk
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