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Age UK faces further criticism on insurance deals
Age UK faces further criticism on insurance deals
This is a duplicate of the Blog Entry made on: 7th February 2016 09:10
This is a duplicate of the Blog Entry made on: 7th February 2016 09:10
The charity Age UK is facing further criticism - this time for selling insurance deals that may not be the best value for money.
On Thursday, the Sun newspaper claimed the charity was earning £6m a year from recommending energy deals that were not the cheapest available. Now the paper says Age UK earned £21.9m last year from selling insurance. The charity said it "strongly" rejected the latest allegations, and interpretation of figures.
Oversight
Age UK said its prices were always competitive, but it had never claimed to be the cheapest at all times. "We offer good value products that can be relied on by older people in a volatile market place," a spokesperson said. "For example, our insurance products have no cancellation or change fees, no upper age limits, interest free instalments, are Which? recommended and achieve defacto five star ratings. Any net profits go straight to charitable activity supporting vital work for vulnerable older people." The energy regulator Ofgem and the Charity Commission said on Thursday that they would investigate Age UK's behaviour......Read more here
On Thursday, the Sun newspaper claimed the charity was earning £6m a year from recommending energy deals that were not the cheapest available. Now the paper says Age UK earned £21.9m last year from selling insurance. The charity said it "strongly" rejected the latest allegations, and interpretation of figures.
Oversight
Age UK said its prices were always competitive, but it had never claimed to be the cheapest at all times. "We offer good value products that can be relied on by older people in a volatile market place," a spokesperson said. "For example, our insurance products have no cancellation or change fees, no upper age limits, interest free instalments, are Which? recommended and achieve defacto five star ratings. Any net profits go straight to charitable activity supporting vital work for vulnerable older people." The energy regulator Ofgem and the Charity Commission said on Thursday that they would investigate Age UK's behaviour......Read more here