FOS upholds complaint following 'unsuitable' life insurance advice

The Financial Ombudsman Service (FOS) has upheld a complaint filed against Kyle Consulting after a 53-year-old woman, Ms C, was told that sourcing life assurance to provide support for her non-dependant son would be ‘unlikely' due to her health issues. In the report, Ms C, who had recently lost her husband, was described as ‘vulnerable' at the time and with ‘limited life expectancy' due to ‘various serious health issues'.   The decision, following a case (Ref: DRN0644871) in 2009 in which Ms C was advised to transfer deferred benefits from two final salary pension schemes into a perso...