simple products

The financial services industry needs to do more to ensure that products are easily understood by customers, the managing director of Age UK Enterprises has said.

Richard Walsh assesses what the Simple Product framework may bring.

The Association of British Insurers, the British Bankers' Association and the Building Societies Association have announced the ‘simple product' framework has been approved by the Trading Standards Institute (TSI).

Reliance Mutual has announced the launch of ‘There', an online brand which offers a combination of income protection and life cover.

SunLife has launched a Family Life Insurance product, promising simplicity and an intermediary product to follow.

The introduction of simple protection products is being hampered by divisions among providers, writes John Letizia.

The financial services industry needs a simplified regime within which it can "talk the consumer language", in order to attract people shut out by the retreat of bank advice, BlackRock has suggested.

The number of customers using the Money Advice Service (MAS) is up 62% from 1.2 million in 2011/12 to 2.1 million in 2012/13, according to full-year results released today.

A direct-to-consumer online protection provider has responded to criticism that its critical illness cover is too basic, by stressing that the product will continue to develop as its simple online processes evolve.

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