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Site rapped over ‘cheap’ cancer cover

Price comparison website has come under fire for listing Virgin Money’s cancer cover as one of the cheapest joint life and critical-illness policies.

Highclere Financial Services partner Alan Lakey says people searching for cheap joint cover might buy Virgin’s policy assuming it insures against a range of critical illnesses, not just cancer.

Virgin’s product only pays out if the policyholder is diagnosed with cancer or in the event of death and advisers believe comparing it with joint cover could mislead consumers.

Lakey says: “This product cannot be compared. It does not give comprehensive cover so should not be compared alongside life and critical-illness policies that do give comprehensive cover. It is like comparing a goat and a dog.” protection sales manager Emma Walker says: “The life and critical-illness cover section is the most appropriate place for this product. It is a form of critical-illness cover that pays out for cancer and once the client is directed to the Virgin website it is clearly explained. It is an important product and if we do not put it there, consumers will not come across it.”


BoE stats show increase in total net lending in June

Bank of England statistics show that the increase in total net lending to individuals in June – £10.4bn – was higher than the increase in May and the previous six-month average.The twelve-month growth rate was unchanged from May at 10.2 per cent. The three-month annualised growth rate fell by 0.1 percentage points to 9.2 per […]

A Shaw thing

Sam Shaw is a reporter on Money MarketingThe joys of having taken Monday off as leave soon became a distant memory as I walk in on press day to land straight in the middle of the Friends Provident/Resolution merger talks.Having spent much of Tuesday discussing the “what might happen” with many an IFA to gauge […]

AWD says Government Isa stance is duplicitous

AWD Chase de Vere has accused the Government of being duplicitous in allowing one-way transfers of Isa cash into equity and other Isa vehicles from April 2008 but not allowing people to move back to cash Isas if circumstances dictate.It is warning savers in cash Isas that moving all their cash into equity Isas could […]


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