The Financial Services Compensation Scheme (FSCS) has clarified that it does not provide protection for individuals who have a funeral plan with a provider that fails.
This applies whether the plan was purchased by paying a lump sum or by paying a monthly amount to the (funeral plan) provider. James Daley, managing director at Fairer Finance, said: "We're delighted to see FSCS bringing some clarity to where its coverage lies and doesn't lie around funeral plans." Funeral plan providers can be regulated by the Financial Conduct Authority (FCA) but the vast majority of providers choose to use exemptions available to them which means they are not. In addition,...
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.
The official supplement of this year's COVER Excellence Awards is available to read now as an eBook.
Child cover within critical illness plans has assumed a far greater importance in recent years, writes CIExpert's Alan Lakey.
Holloway Friendly has widened its new online underwriting process allowing protection advisers to write both full and short term income protection business in minutes.