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‘Pure protection’ market comes under closer scrutiny from UK FCA

( March 21, 2025, 13:45 GMT | Official Statement) -- MLex Summary: The UK's Financial Conduct Authority has opened a market study into the sale of four “pure protection” products — term assurance, critical illness cover, income protection insurance and whole-of-life insurance — to evaluate whether customers are being treated fairly. "Consumers rely on ‘pure protection’ to provide an important safety net — often when at their most vulnerable, be it through bereavement, illness or injury. We are determined to ensure the market is working well," said Sarah Pritchard, the FCA's executive director of supervision, policy, competition and international.Statement follows....

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