The Consumers Association (CA) have decided to involve themselves after concerns were raised regarding the selling of critical illness policies.
Which? The front end magazine of the CA has said that it was investigating claims that people are being mis-sold critical illness policies.
Critical illness plans come in many forms and are policies that pay out a benefit lump sum on diagnosis of a serious illness e.g. cancer, stroke or heart attack. The CA is concerned that people are being sold critical illness plans when perhaps income protection may be more suitable.
Our view
We have approached Which? on a number of occasions to offer expert comment if needed. They said that they did not have the expertise to vet independent financial advice. However, they now apparently can comment.
We welcome their investigation as anything that educates the consumer about the pros and cons on any financial arrangement, such as what we are trying to achieve at can only do good.
Learn more about protection and crtitcal illness plans in the Life Cover Adviser.com.
Get a quotation for cover on line now. Compare a range of companies costs and premiums.
Not sure? Need some help or advice? Visit the Help Zone to find out about all the different ways we can help.
Prefer low cost help? Try our discount Ask An Adviser service.