Wherever you are in the world, make sure you have the right life insurance cover

Despite emigration becoming more popular with British pensioners, often drawn overseas by sunnier climes and proximity to the family diaspora, a large number of expats are taking the risk of not having any life or income protection insurance in place when they move overseas. Whilst it is generally accepted that taking out suitable international private [...]

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Independent Advice and the Retail Distribution Review

Almost half of life insurance customers do not want to pay for advice on their policy, a new report by Ernst & Young has revealed. Despite the large financial commitment involved and the potential for mis-selling, consumers expect free advice about the complex options available. The research carried out by the financial services firm found [...]

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When it comes to Life Insurance, don’t rush into a purchase

The Daily Mail carried a story this week about the dangers of taking out supermarket life insurance. Big-name supermarkets are offering customers short-term offers to take out life insurance but, as ever, you shouldn’t buy without comparing first. High street giants, including Sainsbury’s and Tesco, have been accused of using “aggressive selling tactics” to get [...]

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Over 50s Plans: Are they worth it?

New research released this week by the Which? Money magazine has shown that life insurance payouts can outstrip those of over-50s plans by up to 40%. Over-50s plans are heavily advertised on television during the daytime schedules, usually by a minor celebrity and often incentivise enquiries with the liberal distribution of free gifts such as [...]

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In the internet age, insurance firms need better customer service to prosper

A comprehensive study has found that British consumers feel the insurance industry lags behind others in how it addresses their needs and have given their strongest hint that greater simplicity would be welcomed. Ernst & Young surveyed 24,000 life and non-life insurance customers across 23 countries, including 2,000 in the UK. Compared to their international [...]

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Life insurance premiums and obesity: A warning from the future

The ‘This is Money’ website has this week been discussing the effect on life insurance premiums on certain lifestyle factors. While smoking has long been known to increase insurance costs, for obvious reasons, now obesity is coming under the same level of intense scrutiny. Obesity is a huge health risk, linked with an increased chance [...]

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Sky TV or life insurance?

A report released in the last week by Aviva Family Finances has found that, whilst 50% of families are happy to pay for a satellite television package, just 40% have life insurance. This comparison is at once fascinating and troubling. It is understandable that the majority of UK families find it difficult to discuss personal [...]

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Many in the UK do not understand their financial services

A new survey published this week has suggested that many people in Britain don’t fully understand what is on offer from financial products in the UK, with Life Insurance proving especially problematic. Conducted by Gocompare.com, the price comparison website with the annoying but effective adverts, the survey found that the average British person is confused [...]

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Pre-1984 Tax Relief on Life Insurance Policies Abolished

The government has responded to its consultation on the removal of a range of tax reliefs and confirmed that it will remove tax relief on life assurance premiums in the 2012 Finance Bill. The decision comes as part of the publication of draft clauses for the financial bill, which was published on 6th December and [...]

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FSA to ban failing investment models, not life insurance.

While life insurance products are seen as a safety net by their customers, for some people they are a route to easy money. Trading life insurance has become a popular investment vehicle in the US and was beginning to make inroads here in the UK. However, the Financial Services Authority (FSA) has this week signalled [...]

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