VitalityLife has introduced 'Vitality Lite' which features significantly lower minimum monthly premiums.
Previously the minimum premium for Vitality and Wellness Optimiser plans was £30pm (£40 joint life), however, with Vitality Lite this reduces to £8 or £10 depending on the type of policy. VitalityLife told COVER that there is no difference in the comprehensiveness of cover, only the minimum premium and therefore some of the rewards that come with the policy. There is no sum assured limit although policies with VitalityLite will be lower premium and therefore will be more likely to be smaller...
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.
Scott Cadger runs through the four most common reasons people give for not taking out critical illness cover - and some suggestions on how advisers can offer reassurance on each in conversations with clients
The Financial Ombudsman Service (FOS) has sought to provide clarity regarding any potential confusion over the products advisers should recommend to clients to cover a decreasing loan or mortgage.