Simple products must 'do what they say on tin': Consumer Panel

Research published by the panel suggests product complexity is a "significant stumbling block" for consumers who find the process of choosing the right product a stressful and "frequently unrewarding" experience. In December, the Treasury called on product providers to develop ‘simple' deposit savings, life insurance and income protection products and launched a consultation over its proposals, which closed in March. "The panel wants to see people given access to products that do what they say on the tin," FSCP chairman Adam Phillips said. "We hope that research will encourage a de...