Just to sketch the scenario. Say for example I take out a policy on my dad's life where I'm the beneficiary. That makes me the policy holder, I pay the premiums and my dad is the insurer. Now in the context of the NCA what is people's opinion on the following:
1. A credit provider takes out a policy to ensure the loan is protected, i.e. the provider is the policy holder.
2. The insured person is the consumer.
3. The credit provider pays the premiums to the insurer.
4. The credit provider levies a fee called "Additional Benefit" charge, to offset the premium they are paying, or are you only allowed the descriptions in section 102 of the Act. If that is the case what about calling it "the cost of an extended warranty agreement".