By Alex Davidson (March 21, 2025, 3:11 PM GMT) — The financial watchdog announced on Friday that it’s initiating an investigation to determine if critical illness and death insurance policies provide consumers with fair value. This decision follows growing concerns regarding the sale of products that may be overpriced or not suitable for the purchasers’ needs.
This probe underscores the watchdog’s commitment to consumer protection within the financial sector, a sector that is a key segment of the economy. The investigation will likely examine various aspects of these insurance products, including pricing structures, policy terms, how they are marketed, and the process of claims handling. The watchdog’s findings could lead to recommendations for regulatory changes designed to improve consumer outcomes and ensure that insurance providers offer transparent and beneficial products. This will likely be the start of a wider investigation focused on consumer vulnerability in the financial system.
