freephone 0800 862 0373
Sign in to view your quotes
Email address:
Password or PIN:

Forgotten your password? Reset it here.

FOS report shows rise in income protection insurance complaints

Published on 05/07/2012

Complaints about income protection insurance policies have risen 63 per cent over the last year, because people were not made aware of their policy details before taking it out.

The report emphasises the importance of using an FSA authorised broker like ActiveQuote when investing in a policy.

According to the Financial Ombudsman Service’s latest quarterly complaints data, 291 complaints were made about income protection insurance between April and June this year, compared to 179 the same period in 2011.

However, of the complaints made in 2012, only 31 per cent were upheld compared to 41 per cent in the same period last year. A spokeswoman for the FOS says:

“We have seen an increase in IP complaints, which is predominantly down to the current economic climate.”

“People who have lost their jobs go to their policy and may find the policy does not cover what they thought it covered them for, or else there may be some exclusions in the policy which prevent them from claiming.”

When taking out an income protection insurance policy it is essential that you are aware of all the terms and conditions in case you need to claim in the future. ActiveQuote Managing Director Richard Theo said:

Income protection insurance can be a confusing product. That’s why our comparison system compares quotes from all the leading insurers and clearly shows the details of every policy. An FSA authorised expert is always on hand to advise our customers on their choice.”

© ActiveQuote Ltd. 2012

Categories:  Income Protection
FOS report shows rise in income protection insurance complaintsComplaints about income protection insurance policies have risen 63 per cent over the last year, because people were not made aware of the    tweet it on twittershare with your friends on Facebookshare with your friends on MySpaceBlog it on your LinkedIn profile

No.1 health insurance broker as rated by customers

A great service from the initial call, to finalising the agreement. I would highly recommend to my family and friends.

Review centre member

Proactive, efficient, and offered me insurance I need. I would say half price I would end up paying if I did it by myself. Many thanks.

Review centre member

Excellent service. Explained everything in detail and really helped to find the right insurance best suited to my needs - which wasn't necessarily the most expensive. 

Review centre member

Good value and the advisor was very helpful and recommended the best policy for my grandson. I would definitely use this service again and recommend to others.

Review centre member

We were contacted in good time to make a knowledgable choice. We were given plenty of options with lots of information to enable us to make the right choice.

Review centre member

The service I received was excellent, the staff member was very efficient and knowledgable. She went out of her way to get the best policy for me.

Review centre member

Great service. I really appreciated the help provided by Active Quote to arrange health insurance. The agent was very informative and proactive. Many thanks!

Review centre member

I received excellent care and attention from the first phone call till the last. Friendly, efficient and patient.

Review centre member

Staff are very helpful, friendly and polite. They call back when they say they will and keep you up to date with progress. Pleasure to deal with.

Review centre member

Very polite and friendly, and gave detailed explanations of all aspects of the cover. Reassuring to know that if you do have a problem there is someone you can contact.

Review centre member
This site is operated by Insurance Broker ActiveQuote Ltd registered in England & Wales company number 6765845.
Authorised and Regulated by the Financial Conduct Authority (FCA). Firm reference number 501109 as detailed on the Financial Services Register. Please read our Key Facts document.
For information about your rights as a consumer visit Citizens Advice.

Our insurance comparison service is free and easy for you to use, but you are responsible for making sure all your information is entered correctly, and for choosing your insurer.

This site uses cookies in order to work correctly - these are not harmful and do not contain personal information. By using this site you consent to this. I understand  Tell me more

please wait ...