The product you have purchased is a non-advised product. This means that all the information was presented to you online, including the policy wording and the terms and conditions, which you opted into upon payment.
The Financial Services and Markets Act 2000 Section 3B(1)(d) provides ‘the general principle that consumers should take responsibility for their decisions’. Section 3C(2)(e) notes the general principle that those providing regulated financial services should be expected to provide consumers with a level of care that is appropriate having regard to the degree of risk involved in relation to the investment or other transaction and the capabilities of the consumers in question.
At Nova Direct we attempt to be as upfront with our customer base as possible and aim to provide all policy information upon purchase with the detail clarified on our website under our FAQs. We feel that this adequately provides all our customers with the information they need to appropriately decide whether our products are fit for your purposes. It is on that basis that our typical approach is, ignorance of our policy wording or terms of business are not valid defence against being held accountable by them.