Life Companies Accused Of Sneaking In Changes

Published / Last Updated on 09/08/2002

Accountants Ernst & Young have criticised life companies for making sneaky changes to with-profits market value reductions and payouts. Several leading companies, including Norwich Union, Scottish Widows and Axa have imposed increased cuts to payouts in recent weeks. There has been mounting criticism that life offices have shown poor communication with policyholders about the falling stockmarkets and the subsequent impact on with-profits products. The FSA have reiterated that they will investigate if companies are in breach of their duty to treat their policyholders fairly. Search our archive for with profits. If you are worried about your policy contact us for a financial wealthcheck.

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