Life Insurance is more important than ever

With the UK economy in a deeper recession than previously thought and the cost of living still rising, people are trying to save money where they can. However, for many people choosing to go without life insurance is a false economy that could have dire consequences. Most people are now aware of the necessity of [...]

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Pensioners facing steep increase in their whole-of-life premiums

The Daily Mail has reported this week on the plight of many thousands of people who took out whole-of-life insurance for £10 a month in the 1990s but are facing impossible hikes in their premiums this year. The design of the policy and the subsequent cost of provision mean that people at 70 years of [...]

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Aviva pushes hard for new life insurance business

The insurance company Aviva has created a video for financial advisers, in partnership with bereavement charity Grief Encounter, designed to show how families are affected when a parent dies without life insurance. The video is designed to take an “emotional approach” to show the importance of having protection in place as opposed to just using [...]

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How much money do you waste each month?

The ongoing economic uncertainty and return to recession means that households across the country are trying to cut back on their expenditure, manage their money a little bit better and cut down on waste. However, a survey has shown that, despite the financial hardship, people are still wasting money instead of spending it on essentials [...]

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Life Insurance to go on sale in Tesco

UK Insurance giant Aviva has this week signed an exclusive five-year deal with Tesco Bank to provide life insurance products to its customers. The agreement will begin later this year and will cover the sale of Aviva’s core protection products, including life insurance and critical illness cover. The products will be advertised in stores across [...]

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Britain is under-insured by £2 trillion

A report from a global reinsurance specialist into the UK market has revealed that Britain could be underinsured by over £2 trillion. With the continued demographic changes meaning that we are living longer and will have to contribute to our social care in old age, this is a very worrying development. The Swiss Re Term [...]

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Life Insurance for young adults

According to a new poll by the Skipton Building Society, buying life insurance is one of the actions that show a person has become a fully-fledged adult. It was listed tenth among the top 50 indicators of being ‘grown up’. However, the survey also confirmed that young people are finding it harder to achieve this [...]

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The deadline for changes to UK life insurance is fast approaching

This blog has discussed previously how costs for life insurance could increase by 25% later this year as a result of a ruling from the European Court of Justice (ECJ). Analysts predict that the combined effect will be to add thousands of pounds to the cost of long-term life assurance and critical illness cover. As [...]

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Do I need life insurance?

None of us like thinking about our deaths, but when we get married or have children our responsibilities in life grow and we begin think about how our loved ones and dependents would get on if we were not around. Life insurance plans pay your family a set amount to ensure their financial security if [...]

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Demographic changes and life insurance cover

The demographics of the UK are changing very quickly. Much attention has been paid to those already approaching pension age, but the increase in life expectancy of the younger generation is even more startling. Figures from the Office for National Statistics say that a third of babies born in the UK this year will live [...]

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