ABI responds to FSA proposed amendment to the definition of a pure protection contract
Following recent FSA proposals for change on the current age restrictions on life and protection insurance (CP 06/13), the Association of British Insurers (ABI) have published its response which supports making it easier for people over aged 70 (or who will be over 70 during the term of their policy), to buy life and protection insurance.
The current restrictions, known as the ‘Age 70 rule’, require these policies to be sold as investment, rather than insurance, products. The ABI is proposing that all straightforward protection
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