Putting Consumers First

Delivering Access to Justice through

Ethical and Professional Standards

Mis-sold Whole of Life Policies

What is a Whole of Life Policy?

Whole of Life policies are designed to pay a sum of money to a consumer’s family on their death. With the most common types of policy – reviewable – the consumer chooses that sum, pays regular monthly premiums, part of which are used to build an investment fund.

A Whole of Life policy can be very expensive. A consumer is paying for insurance and for the investment. In addition, the risk associated with the investment element can result in a consumers being left with less life cover than required – and unable to protect their family in the way they intended.

Obligations of the Adviser or Sales Person for mis-sold Whole of Life Policy

How was this product mis-sold?


Additional Information

Useful Links

Whole-of-life policies

Provided by FOS (Financial Ombudsman Service)

Complaints involving whole-of-life policies

Provided by FOS (Financial Ombudsman Service)

Membership Benefits & Services

The Benefits and Services of the Professional Financial Claims Association are intended to extend beyond its own membership. The Financial Claims Management sector needs a credible ‘voice’ at a time of change and increased scrutiny within the sector.

PFCA Code of Practice

The members of the Professional Financial Claims Association wish to set professional standards for member firms...

Download the PDF
Visit the Code of Practice page