Abbey Life Investigated
Published / Last Updated on 04/05/2002
The industry regulator, the Financial Services Authority are currently investigating allegations against Abbey Life and their Covermaster plans. Covermaster plans at their 10 year anniversaries have been reviewed by Abbey and policyholders are thought to have been told they need to pay large amounts for new policies, just to keep the original level of cover.
Evidently, this is not the case and policyholders could have retained the same level of cover for just a few £'s more. A press officer for Abbey Life said: "we are now in the process of ensuring policyholders are given these alternative options".
If you have a Covermaster plan that has been or is about to be reviewed, get in touch.