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Income protection insurance

Posted on August 21, 2012 by - Financial News

How would you pay the bills if you were sick or injured and couldn’t work?

Protecting your income should be taken very seriously, given the limited government support available. How would you pay the bills if you were sick or injured and couldn’t work? Income protection insurance, formerly known as ‘permanent health insurance’, is a financial safety net designed to help protect you, your family and your lifestyle in the event that you cannot work and cope financially due to an illness or accidental injury preventing you from working. Most of us need to work to pay the bills.

Critical illness cover

Posted on August 21, 2012 by - Financial News

Choosing the right cover can help ease your financial pressures

You really need to find the right peace of mind when faced with the difficulty of dealing with a critical illness. Critical illness cover is a long-term insurance policy designed to pay you a tax-free lump sum on the diagnosis of certain specified life-threatening or debilitating (but not necessarily fatal) conditions, such as a heart attack, stroke, certain types/stages of cancer and multiple sclerosis. A more comprehensive policy will cover many more serious conditions, including loss of sight, permanent loss of hearing and a total and permanent disability that stops you from working. Some policies also provide cover against the loss of limbs.

Whole-of-life assurance

Posted on August 21, 2012 by - Financial News

Providing financial protection with cover that lasts for the rest of your life

Whole-of-life assurance policies provide financial security for people who depend on you financially. As the name suggests, whole-of-life assurance helps you protect your loved ones financially with cover that lasts for the rest of your life. This means the insurance company will have to pay out in almost every case and premiums are therefore higher than those charged on term assurance policies.

Term assurance

Posted on August 21, 2012 by - Uncategorized

You can’t rely on always being there for those who depend on you

It’s essential to have the right sort of life assurance in place. You can’t rely on always being there for those who depend on you. There are various ways of providing for your family in the event of your premature death, but term assurance policies are the simplest and cheapest form of cover. The plans have no cash-in value or payments on survival as their design is limited to protecting your family. However, you could also use term assurance in relation to estate planning and for the payment of mortgages or other debts.

Life assurance

Posted on August 21, 2012 by - Financial News

Providing a financial safety net for your loved ones

Whether you’re looking to provide a financial safety net for your loved ones, moving house or a first time buyer looking to arrange your mortgage life insurance – or simply wanting to add some cover to what you’ve already got – you’ll want to make sure you choose the right type of cover. That’s why obtaining the right advice and knowing which products to choose – including the most suitable sum assured, premium, terms and payment provisions – is essential.

Pensions roulette

Posted on July 3, 2012 by - Uncategorized

Retirees tap into savings earmarked for retirement

More than a quarter (27 per cent) [1] of UK adults with a private pension have stopped making payments into their fund since 2008 because of tough economic conditions. One in five (21 per cent) of those aged 55 years or older have dipped into their retirement savings since 2008.

Flexibility in retirement

Posted on July 3, 2012 by - Uncategorized

Gain more control over when and how you can use your retirement savings

A practical consequence of living longer is that retirement lasts longer. Pensions have to stretch further. Pension legislation is always on the move but keeping up to date with the latest changes could open up new opportunities for you in retirement. In April 2011, some of the most significant changes in pension legislation for five years were announced. Some of these changes have created the very appealing prospect, for people aged 55 and over, of gaining much more control over when and how they can use their retirement savings.

Long-term care costs to hit £38bn a year by 2025

Posted on July 3, 2012 by - Uncategorized

Increases would be even higher if the effects of inflation were taken into account

The Future of Long Term Care report, launched by retirement specialist LV=, shows that as life expectancy in the UK increases, the number of people who will need to make use of formal long-term care services will grow from 840,184 today to 1.1 million by 2025, an increase of 37 per cent.

Are you unprotected and at risk of financial hardship?

Posted on July 3, 2012 by - Uncategorized

Put some shock absorbers in place to deal with the unexpected

Awareness of ‘protection’ products is high but a worrying number of people are failing to take action, leaving their families vulnerable to change. Research from Scottish Widows shows that nearly three quarters (74 per cent) of people are putting their families’ financial security at risk by failing to protect their future through life insurance, critical illness or income protection.