Pure protection market study: FCA publishes final report

The useful part

Launched in March 2025, the market study examined issues identified across the following areas in respect of critical illness, term assurance, whole of life insurance and income protection: Addressing the gap is a priority for the FCA in its wider effort to improve financial inclusion. Consumer outcomes Pricing outcomes, value and firm profitability Protection gap and innovation Intermediaries and commission The FCA has concluded that competition in the distribution of pure protection products generally works well for existing policyholders and delivers positive consumer outcomes.

How it works

• Consumer outcomes Pricing outcomes, value and firm profitability Protection gap and innovation Intermediaries and commission The FCA has concluded that competition in the distribution of pure protection...
• However, it identified a significant number of consumers who remain uninsured, which it sees as a material "protection gap": 58% of consumers do not hold any protection products and that, of those...