The FSA said it may look at ways to improve the standard of advice for products that meet care fees funding needs.
It said these products can be complex and consumers "may need additional protection". It follows the publication today of economist Andrew Dilnot's broad recommendation that social care costs should be capped. His proposals suggested there may be fresh interest from providers in developing pre-funded insurance products. In a letter to Dilnot dated 1 July, Margaret Cole, managing director of the FSA's conduct business unit, pledged to closely monitor the possible creation of new long term care (LTC) products, and the advice given on them. "We are keen to continue working with the...
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