With Regulated Advice Comes Protection
The internet has transformed our ability to self educate and inform; it has opened up markets to the UK consumer of vast choice whether this be price or range
Life insurance policies and the more sought after critical illness cover is no different, with the promise of instant quotes and immediate cover flashing across our home computer screens
Supermarkets such as Asda and Tesco have discovered branding of Asda Financial Services and Tesco Bank to use the trust and value in their names to promote cheap and plentiful options to an online customer whether they shop in their Store or not; our banking institutions have slipped back from original dominance of this space online with the demise of their mortgage and remortgage market places
So what exactly am I at risk to?
Simple question – simple answer..
Non regulated advice has a maximum claim for negligence of £2000 whereas with Regulated Advice the Advisor can give an opinion based on your information as to which is the best available product for price and which is the best product (known as contract) for cover terms – and their advice is fully protected and monitored by the regulatory body the FSA
You may be at risk to yourself!
Often applicants have a limited understanding of exactly what they are buying, what they are covered for and what a critical illness policy actually provides. If mistakes are made in the offset, the consequences could be devastating if the worst were to happen
Why are we different?
- All advice given is regulated by the FSA and will allow customers to fully analyse their situation with an Advisors help
- This will help customers to gain an understanding of the product, critical illness insurance, how the product works, the conditions covered and the insurance providers claims history
- If anything goes wrong with the advice you are given you are entitled to claim compensation from the FSCS – Financial Services Compensation Scheme
Taking a quote with advice will give you the reassurance you need that a claim will be paid to the right people at the right time.
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