Friday, February 17, 2006

Health Warning on Advice Free Financial Products

Many financial providers are offering products via the phone & internet without advice. However you are ineligible for compensation if you buy a financial product without advice and it is unsuitable.

Eg Do you know the difference between Terminal Illness Cover & Critical Illness Cover? The difference could be very costly.

Liberal Democrat spokesman Vince Cable said: "I would like to see a health warning on web sites, leaflets and documents. It should state the situation very clearly and ask potential customers if they are aware that they will be ineligible for compensation if they have not sought financial advice.

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