The Financial services authority (FSA), has said that there should be a much fairer handling of consumers in relation to the UK life insurance market. At this present time the FSA strongly believe that there is not enough being done in the industry, to ensure that customers are being provided with a satisfactory level of advice, with regards to information about their life insurance policies.

The findings of the FSA illustrate that the quality of closed-sales literature supplied by the insurers is erratic, as well as the fact that there is also a difference between the level of service, given by a variety of advisers and product providers. Sarah Wilson the FSA director and insurance sector leader: had this to say “Without ongoing advice, consumers might not be able to make properly informed decisions about their with-profits policy. They also might not understand the potential need to take action to meet any gap between their past and current expectations of investment returns.”

She also further stated that the managing in the industry needs to now re-examine the way in which, it conducts its business and to make the necessary changes to the way in which life insurance is sold to customers.