FOS rules on insurance policy taken out in 1980

The Financial Ombudsman Service (FOS) has ruled against Friends Life after one of its financial advisers mis-sold an RAF serviceman an endowment plan in 1980.   There is much debate about a long stop which would prevent such cases being allowed, not to mention the various changes in legislation and products over the years which may judge old cases against rules not in existence when the product was sold.  I have to smile though when the Insurance company said it could not predict a serviceman being sent into combat in the 43 year life of the policy !   Read more here

Categories: FOS

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