What about life Insurance purchased on the Internet?

• At present web sites selling Life Insurance may, or may not, be registered with the FSA.

In early 2005 its Regulations are due to widen to include mortgages and general insurance, including Life Insurance.

You’ll find two categories of web site – those operated by organisations that are regulated by the Financial Services Authority and sites that are unregulated. At present there is no requirement to be regulated and many sites are not. If a web site is regulated by the Financial Services Authority it must tell you that it is regulated and many will feature the FSA’s logo.

Few web sites selling Life Insurance will offer you personal advice but will provide you with information upon which you can make an informed choice. This is known as execution only business. In order to give personal advice it is necessary for a Financial Adviser to have conducted a lengthy Fact Find in order to thoroughly understand your personal circumstances. This is simply not practical on the Internet.

Please note : The information contained within the FAQ section has been written by Mortgage Protected Online

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