Equitable Life With Profits Policyholder Settlement
Published / Last Updated on 30/01/2008
Equitable Life with profits policyholders have agreed a settlement for mis-sold with profits plans.
More than 400 Equitable Life with profits annuity policyholders who had pensions with Equitable Life have agreed a confidential settlement just weeks before the trial was due in the High Court, following a long-running mis-selling claim.
Some of the complaints from the claimants’ were that the complexities of the product itself and its risks were not explained to them by Equitable Life’s salaried sales-force between 1990 and 2000.
Our view
How utterly ridiculous that a settlement has taken this long. A complete waste of time and more importantly resources. Perhaps the regulator should have taken a firmer hand.
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