The Financial Services Authority has clarified which qualifications advisers must have before they can recommend long-term care policies, as well as stressing the importance of considering means-tested state benefits when giving advice.
In response to several queries from advisers about its expectations for training in long-term care (LTC) planning, the FSA says advisers must have passed an appropriate LTC exam before they may be assessed as competent in that area. The regulator’s latest newsletter adds that if an adviser is not yet assessed as competent, their work must be supervised by someone who has passed an appropriate exam, such as the Chartered Insurance Institute’s (CII) certificate in financial planning and LTC insurance, and has the necessary technical knowledge and assessment and coaching skills. When advis...
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