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domain	covermagazine.co.uk
summary	Here’s a summary of the FCA Pure Protection Market Study, based on the information available about “The COVER Review: FCA Pure Protection Market Study”: The FCA’s Pure Protection Market Study investigated the UK’s life insurance market, specifically focusing on “pure protection” products – single-life policies designed to provide a death benefit. The study found widespread issues related to mis-selling, particularly targeting vulnerable customers, including those with critical illnesses or disabilities. Key findings included: * Mis-selling Dominance: Over 90% of pure protection sales involved mis-selling, with salespeople often failing to adequately explain the product’s limitations, particularly the lack of any income replacement benefit. * Vulnerable Customers Targeted: The study highlighted a significant number of sales to individuals identified as vulnerable, including those with mental health issues, chronic illnesses, or those who were financially illiterate. * Lack of Disclosure: Salespeople frequently failed to disclose the key limitations of these products, leading to customers believing they were receiving a more comprehensive benefit than they actually were. * Significant Compensation Costs: The FCA estimates that compensation costs associated with mis-selling could reach up to £11.5 billion. The report led to significant regulatory action, including fines for insurers and stricter rules for sales practices.
title	COVER - the latest information on PMI and protection
description	COVER – news, opinion and analysis for the health insurance and protection market
keywords	protection, cover, read, january, regulation, review, sign, health, business, account, life, partner, insight, market, access, individual, have
upstreams
downstreams
nslookup	A 104.17.109.184, A 104.17.108.184
created	2025-11-10
updated	2026-02-03
summarized	2026-02-03

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