Glossary
Fact find
A fact find is a document insurance brokers use to gather information about you, your family, your dependants and your current state of health to provide you with the right advice to meet your particular needs.
Financial Conduct Authority (FCA)
The FCA is the conduct regulator for 58,000 financial services firms and financial markets in the UK.
Financial Ombudsman Service (FOS)
The FOS is an independent arbitrator set up to settle complaints against financial services companies. You can use the FOS if you have gone through a company's complaints procedure but remain dissatisfied.
Financial Services Compensation Scheme (FSCS)
The FSCS protects customers of financial services firms which have failed. If you've been dealing with a company and they are unable to pay claims due to bankruptcy or insolvency, the FSCS can step in to pay compensation.
Fixed term
The set amount of time which an insurance policy will last for - a fixed term means the policy has a defined end date.
Free cover limit (FCL)
A free cover limit is the amount of cover a policy member can have on a group protection scheme without any medical evidence or underwriting.