Life insurance shock for pensioners

Peter Dejong/AP/Press Association Images

Thousands of people who took out whole-of-life insurance for just £10 a month in the 1990s are facing impossible hikes in their premiums this year. The design of the policy and the cost of providing them means that those over the age of 70 are facing horrible and dramatic increases in their monthly premiums. Some are suddenly being expected to pay £100 a month.

So how could this happen, and what can you do if you are a victim?