Consumers could be paying thousands of pounds more for index-linked insurance products due to companies adding charges to premiums beyond the level of inflation.
Research by personal finance podcast In For A Penny, has revealed insurance companies could be charging more than £11,000 extra in some cases.
The findings are discussed in the latest In For A Penny podcast, featuring insurance industry veteran Roger Edwards.
What is index/inflation linked insurance?
Why do you need it?
How much extra could you be charged?
See some of the startling figures in the table below that shows the difference in premiums with extra charges.
The In For A Penny podcast is produced and presented by freelance personal finance journalist Marc Shoffman and The Orchard Practice financial planner Joshua Gerstler.
Each episode aims to address the confusing concepts and challenges from the world of business, finance and wider society.
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