FCA to launch market study into pure protection products to discover if they ‘provide fair value’ to consumers
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The UK financial watchdog is to investigate whether insurance companies are ripping off “vulnerable” customers who take out policies designed to financially protect them and their families in case of serious illness or death.
The Financial Conduct Authority (FCA) intends to launch a market study into pure protection products, which are designed to help individuals and their families with their finances should a policyholder die or be unable to cover financial commitments, after becoming concerned about how such policies are being sold.
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