Not really. I thought this form of negative selling was against FSA rules. They should only be selling optional cover in positive way, by providing details and asking people to contact them if they want it.
E&L will just end up with complaints and they will I am sure be pulled up on this by the FSA.
Up to you what you do. You could send the FSA a copy of the letter and ask them to investigate this, as this appears to be a breach of the FSA's rules (ICOB- Insurance conduct of business)