Consumers paying 1.2% to 3% on top of inflation for premiums, In For a Penny podcast research reveals
Consumers could be paying thousands of pounds more for index-linked insurance products due to companies adding charges to premiums beyond the level of inflation, research by In For a Penny podcast has suggested. Typically, the level of protection cover for index-linked life insurance, income protection (IP) or critical illness (CI) increases in line with inflation, with customers opting to increase their level of cover each year by the rate of inflation or other measures to ensure their insurance...
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