The Association of British Insurers (ABI) has proposed an equivalent to the fruit and vegetable ‘five a day' campaign to promote good financial habits.
In a report published today, the trade body set out how the industry should work alongside the Financial Conduct Authority (FCA). It included ideas on how to improve the Money Advice Service (MAS). One of these is for the government, FCA and the MAS to convey messages about the benefits of core financial products for consumers, taking inspiration from the ‘five a day' healthy eating messaging. The ‘five for a healthy financial life' would include a bank account for daily transactions, a ‘rainy day' savings account, pension savings, property/contents insurance, and some form of life...
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