The firm has sent out an email to consumers suggesting they may have been “fleeced” and urging them to take a 60-second test to determine if they are a victim of misselling.
It is thought to be the first time a claim-chaser has targeted whole-of-life policyholders.
Brunel Franklin corporate relations director Ian Allison claims that initial indications suggest that most policyholders were not made aware that their premiums might be reviewed and increased.
He says: “If they had known this, they would not have taken out whole-of-life policies. For the vast majority of customers, there may have been products available that better met their individual requirements.”
The Financial Ombudsman Service says it has not seen an increase in whole-of-life cases. A spokesman says: “There have been one or two spikes in the past year but in general terms the total number of whole-of-life policy cases is reducing.”
Highclere Financial Services partner Alan Lakey says: “I doubt that claim companies have the skills or qualifications to understand what they are seeing. Where there is a few quid to be made, there will always be someone sniffing around. I find it disgusting.”