Watch Out – There’s a [new] Scam About

I had a call today asking about ‘my’ life policies – who are you? – I asked.
‘We are the Life Team. We review policies for the life companies – did is you buy yours from a bank? Whatever po’licies you did buy must be unsuitable for you now so it must be reviewed’

OK, but WHO are you‘.
‘We are the Life Team’.
‘I am a professional Adviser and I’ve never heard of you – who are you?’ – the phone went dead.
1: It is ILLEGAL to cold prospect private addresses/phones for financial services sales.
2: NO insurance company does anything like this
3: NO advice may be given without a thorough fact find on client circumstances and the adviser must demonstrate clearly, and in writing to you, how any change is in your best interests – very unlikely for a life plan that you have had for some years.
Should you get such a call, gather as much information as possible and then contact Action Fraud on 0300 1232040
If you take care only to consult a genuine financial services professional then you will have no problems. Such a firm will have an authorisation number that can be checked on the Financial Conduct Authority web site –
Note, there is a known offshoot of a business called the Life Team but not only could we not establish whether this is the same on – but, even so, there call and the way they conducted it was illegal and should reported

Leave a Reply