Life insurance controversy sparked in the United Kingdom

Life Insurance medical exam

Financial Conduct Authority criticized for breaking its own rules The Financial Conduct Authority, a financial regulatory body in the United Kingdom, may have mishandled its review of the life insurance industry last year, according to a report from a committee of members of the British Parliament. The report is the latest development in ongoing controversy regarding the Financial Conduct Authority’s plans to review the life insurance sector. This review has had a significant impact on the sector, with the regulatory body wiping some $4 billion off the value of insurance…

Read More

Life insurance product from Barclays classed as “simple”

life insurance news Barclays Bank

Life insurance policy is the first of its kind to be designated as a “simple” product A new life insurance policy being sold by Barclays and underwritten by Aviva has become the first product of its kind to be classified as “simple” by the British Standards Institution. Last year, the Bank of England issued a report regarding the need for simplistic products within the financial services sector. Typically, many insurance products are difficult to understand because of their complex nature. This can make it difficult for people to find the…

Read More

Life insurance is now cheaper for vegetarians

India life insurance

A diet that no longer contains meat can now help to reduce the price for some people’s policies. A life insurance company from the United Kingdom has recently announced that it has created a special policy that is meant to reward vegetarians for their healthy lifestyle choices through lower premiums. These policies are being offered to consumers in the UK, and India is hoping to be included, as vegetarianism is common. The reasoning behind these vegetarian life insurance policies is that people who live this lifestyle tend to make healthier…

Read More

Insurance news from the European Union shows prices will increase for women’s life policies

Women Insurance

When the regulations regarding gender kick in, women will pay more for coverage. Women in Europe who have heard the latest insurance news are rushing to take advantage of the shrinking window of opportunity that is available to them to obtain a life policy for a lower price. When the regulations against using gender as a factor in calculations kick in, women will lose their discount. The main insurance news attention regarding the way that gender will no longer be allowed to calculate premiums has been focused on auto coverage,…

Read More