The ABI has published a new Code of Practice for the sale of Long Term Care Insurance.
The code, which is expected to strengthen customer protection, comes into force on 1st January 2003.
The Code requires ABI members to treat the sale and marketing of long Term Care iInsurance as an investment product.
Richard Walsh, Head of Health at the ABI said: "Long Term Care Insurance is an important protection for many people.
"We want to ensure that customers are well protected in advance of FSA regulation in 2004 and that the industry upholds high standards.
"The Code will be an excellent model for the statutory regulation of Long Term Care to follow."
The ABI's consultation on the code was welcomed by Ruth Kelly, financial ecretary to the Treasury. She said: "The Government welcomes this initiative to strengthen the ABI Code.
"Together with the extension of the role of the financial ombudsman, the revised Code should provide important reassurance for customers."
