What if I decide I don't want the policy after all?

Most policies have a cooling-off period (usually 14 days from when you receive your policy). During that period you can tell your insurance company that you want to cancel the policy and receive a refund of any premiums that you have paid.

Are these policies regulated?

The key features leaflet will tell you if a policy is regulated by the Financial Services Authority. Most policies are also covered by ABI Codes of Practice. You can get information on these codes from the ABI, your insurance company or your financial adviser.

What should I do if I want to complain?

You should first tell either your financial adviser or the insurance company. Your key features leaflet will give details of the insurance company's complaints procedure. These procedures make sure your complaint is investigated properly.

However, if you are not satisfied with how your insurance company has dealt with your complaint, you can ask the Financial Ombudsman Service to settle the matter. The service provided is free to customers. Their decisions are binding upon the insurance company, but do not affect your right to take legal action.

The address of the Financial Ombudsman Service is:
Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR
Phone: 020 7964 1000

We hope this guide has helped you decide whether you should take out critical illness cover and, if so, the type of policy you should choose.

Life Insurance

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