We all seem to be the victims of data overload, but there are some areas of the financial services world where there appears to be a dearth of information.
A case highlighted by a consultant (Ramesh Thakrar) at Retirement Solutions this week shone a light into an information blackhole in the protection world. One of his clients recently discovered a forgotten individual permanent health insurance policy which he had bought 16 years ago through another adviser. He had paid all the premiums to date and had never made a claim. Unfortunately, the client was made redundant a few years ago, but as he had forgotten about the policy and was between advisers at the time, he failed to inform the provider, Phoenix Life, of his change in circumstances....
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