Annuity Misselling??????

One of our national newspapers ran an article last week about medically enhanced annuities. I have been surprised at the number of enquiries we have had from people who have bought an annuity and who were not asked if they had a medical condition when they bought the annuity. The result is that they have a lower income than they were entitled to.

The FSA insist that customers are treated fairly. How can it be fair not to point out the possibility of enhanced annuity rates to a customer and to ask for details of medical conditions??  I suspect the answer that will come back is that people are told to shop around but this really is not good enough.

Sureley the FSA really needs to get tough on what is clearly sharp practice.

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