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How Assura + Protect meets the new Consumer Duty

by Assura Protect | Nov 28, 2023

On 31st July 2023, the Financial Conduct Authority (FCA) introduced Consumer Duty – a new set of consumer protection regulations for Financial Services and Products within the U.K.

The Duty focuses on four core protections for customers of retail financial products, specifically:

Products and Services
Price and Value
Consumer Understanding
Consumer Support

As a new protection product within the U.K. market, Dividend Life from Assura Protect has been designed to embody Consumer Duty across:

+ Products and Services

Assura + Protect’s policies are designed for modern life, providing you Better Cover, Longer.

Innovative Protection Product Features include:

– 200% Multi-Claim Critical Illness Cover: Make up to 3 Critical Illness claims for a maximum of twice (2x) the policy sum insured. (Most Life Insurance providers only permit 1 claim).

– 200% Dual Life Cover: Insures both partners and pays a benefit on each life insured. (Effectively providing 2x the cover of a traditional Joint Life Insurance policy).

Additional Policy Services include:

– Doctor-on-Demand with 24/7 GP Services: Face-to-face GP consultations and prescription services at time that suits you from anywhere in the world.

+ Price and Value

Assura creates value through:

1. Enhanced Covers
– 200% Critical Illness Covers
– 200% Critical Illness Covers
– Guaranteed Insurability Options

2. Policy Benefits
– Award-winning Annabel app provides membership rewards & services.
– Cashback & Discounts from over 300 retail partners.
– Targeted annual savings of up to £2,500 for a family of four.

3. Competitive Premiums

– 200% Multi-Claim Critical Illness premiums are similar to Single Claim policies from traditional U.K. insurance companies.

– 200% Dual Life premiums are similar to Joint Life policies from traditional U.K. insurance companies.

– Fixed Policy Premiums with no additional costs or usage limits for Annabel benefits plans or GP Services.

+ Consumer Understanding

To help determine “Best Fit Cover” – Assura customers can use:

1. Annabel – Assura’s Robo Advisor and digital insurance manager.
2. Agent – Talk directly to an Assura agent or consultant.
3. Online Resources – Review product guides and explainer videos at your own pace.
4. Custom Search – Use Annabel’s AI enhanced website search to find answers quickly and intuitively.

+ Consumer Support

Consumers can engage with Assura + Protect via:

1. Chat – 24/7 in the Annabel app.
2. Call – Customer Support is available via phone and email on weekdays between 8:00am and 8:00pm and on Saturdays between 10:00am and 2:00pm.
3. Email – info@assuraprotect.com.
4. Write – 86 Gloucester Place, London W1U 6HP.
5. Social –

See how Dividend Life Cover, Benefits & Premiums compare to national U.K. life insurers and get a complimentary quote.