Scottish Mutual has issued broker consultants guides on how to deal with angry IFAs and policyholders following "mistakes" leading to a run of poor protected fund performance.
The life office admits in the memos, obtained by Money Marketing, that it made "wrong" investment decisions which has led to recent poor performance of its Controlled Risk and Safety Plus fund range.
It is now urgently seeking to restore IFA and policyholder confidence.
The memo gives advice on how to deal with complaints in a "constructive manner".
It also includes a draft letter for IFAs to use when replying to policyholder complaints and concerns.
Its Managed 95 fund, available through pension contracts, was down 3 per cent during the first quarter of 1999 when the FTSE 100 returned over 12 per cent.
Scottish Mutual claims the funds should be judged over the long-term performance and not a short-term blip.