What got you commenting this week...

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The story that got you commenting the most this week was Softer underwriting ‘part of the jigsaw’ about problems risk advisers are finding with life insurance companies offering low premiums to high-risk clients – such as obese people – just to get them on the books. Premiums are then increased a few years later, resulting in unhappy clients and unhappy advisers.

Ivon Fellowes absolutely agrees there is a problem, saying: “…Clients of mine with Asteron Legacy Policies experienced a 25-30% increase last year (figures are NOT exaggerated) and are expected to cop this with no guarantee that it won't happen again… It encourages the very things that Life companies are trying to avoid, lapses and churning.”

Investor thinks problems within the industry are all the insurance companies’ fault. “…They got into bed with the union funds and thought it sounded great (all those premiums) but forgot about all those claims!..”

It seems problems within the industry are getting those who have been around the longest the most heated up.

Thirty-eight-year insurance veteran Alleycat said: “…Yep, I'm old and grumpy. I think that I should learn "Swahili" because sometimes I fail to communicate in English, no matter how hard I try, with some Life company personnel. The obvious advantage of learning another language is that you usually learn the swear words first. It doesn't solve the problem but..... I know I'll feel better!!”

And Mark Thompson agrees. “Yes Alleycat, I too am old, but you and I are not grumpy. It's just that we've seen B...S... in its various forms over many years. When we see it come around again, maybe sprinkled with 100s and 1000s, we see if for what it is and we get our hackles up. We are just indignant, not grumpy…”

Thanks to all our commentators this week.

Read the article and more comments here.