The Financial Services Authority has launched a £2m advertising campaign which aims to raise awareness of its 'insurance made clear' website and help consumers ask the right questions when buying protection.
The announcement follows a survey of 1,934 adults by the FSA, which found 51% believe it is compulsory to buy life insurance when taking out a mortgage and 55% do not shop around when buying a life insurance policy.
The campaign will target people through online, radio, press and SMS mobile phone advertising and will try to drive people to the insurance section of the FSA’s consumer website, 'Money made clear'.
The FSA has also launched its first podcast as part of the campaign, which includes consumers’ thoughts on insurance products and tips on how to shop around and choose the right protection.
Vernon Everitt, director of retail themes at the FSA, says insurance plays an important part in protecting people’s families but consumers need to be capable and confident in making the right choices.
He adds: "We want to help consumers ask the right questions of themselves and the insurance market when it comes to buying products. The market as a whole will benefit from more capable and confident consumers."
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