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Posted by @
03:12 PM, March 19
As an experienced Protection Adviser - I find it beyond belief a Non-Advice company will protect a client without ascertaing Demand & Need - 1 experience was a single mum on £104 per week benefit wanted £750k cover and was sold a policy over 40 yrs - Is this TCF? How can she afford premium? How can she be Financially accepted for this? - PLEASE ANSWERS ON A POST CARD
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Posted by @
11:40 AM, March 10
Where do I sign? As an ex-advice based adviser I've experienced the trickery non-advice advisers use to win business. It's about time the FSA became more proactive in stopping consumers being misled by those who give advice while saying they don't. It should mystery shop non-advising sellers to ensure all TCF. Is it any wonder consumers are confused about the protection industry? For instance some don't realise that when they buy "mortgage protection" they are normally just buying life insurance! Every individual deserves to be offered advice when it comes to protecting themselves and their family. If brokers do not and can not provide this, then not only should they tell the client this, but they should not tell clients what's a good idea, or what Terminal Illness benefit is and why it's a good idea, or purport to be different because they offer it, or pretend it's the same as Critical Illness cover, or even which product or insurer is best - all of this advice and all of it they do routinely. The FSA needs to TCF and ensure that non-advice means in reality what it means in the rulebook. For now it means anything the seller wants it to.
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Posted by @
12:04 PM, March 05
It's a problem that if going to continue unless the FSA show they mean business and stamp it out. Non-advisers get away with too many dodgy practices.
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