Simple product suite to include whole-of-life cover

clock

A suite of simple products designed to help consumers navigate the financial services market is to include a whole-of-life insurance plan.

The product will be in addition to an easy access savings account; a 30-day notice account; a regular savings account; and a simple-term life insurance product. There are also plans for a simple income replacement product. The range is outlined in the final recommendations of a report into simple products put together by an independent steering group set up by government. All products included in the suite will be non-advised and must comply with an agreed set of high-level principles, including product features, language and pricing transparency. The language used in simple produc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

'Risk aversion' from FCA and PRA limiting UK growth and competitiveness

'Risk aversion' from FCA and PRA limiting UK growth and competitiveness

Regulators 'constraining firms', House of Lords report claims

Patrick Brusnahan
clock 13 June 2025 • 2 min read
FCA targeted support communication to 'ramp up' as further guidance issued

FCA targeted support communication to 'ramp up' as further guidance issued

Regulator expected to update the industry this month

Isabel Baxter
clock 09 June 2025 • 5 min read
FCA joins forces with international regulators on illegal finfluencer crackdown

FCA joins forces with international regulators on illegal finfluencer crackdown

Nine regulators from across the globe come together

Isabel Baxter
clock 06 June 2025 • 3 min read