If people like Al don't ask the right questions then the right policy will not be available
If people like Al don't ask the right questions he doesn't make money. Simple as that.
You can put the same argument for payment protection insurance. For some it is a rip off, for others complete peace of mind.
Hmm.................
Lloyds sold me payment protection insurance that didn't cover me.......
Three million in the queue for compensation over PPI mis-selling................
Nearly three million people who took out
payment protection insurance (PPI) sold by banks and other lenders could be in line for compensation totalling more than £2bn after the Financial Services Authority today issued new rules on how firms should handle the flood of complaints over mis-selling.
The Financial Ombudsman Service revealed that it had received more than 100,000 PPI complaints already, with nearly 2,000 received in the last week alone. In four out of five cases, the ombudsman found in favour of the complainant, and told the PPI seller to pay compensation typically of around £1,500.
The cover is currently the single most complained about product to the Financial Ombudsman Service, accounting for 44% of the complaints it receives. The ombudsman is finding in favour of consumers in 86% of PPI cases it handles, suggesting the banks are not handling the complaints properly, as consumers can only take their case to the ombudsman if they are unhappy with the response they have received from their bank.
Pontius please stick to reminiscing on prune and don't try and dish out financial advice.