Private medical insurance popularity grows
According to figures from the Association of British Insurers (ABI), the number of people taking out Private Medical Insurance (PMI) has risen year-on-year for the first time in recent years.In 2006, 1,030,000 individuals took out personal PMI policies, up 1.8 per cent from the 1,012,000 personal PMI policies in 2005.The number of businesses taking out corporate PMI has increased even more than this, with 2,345,000 corporate PMI subscribers in 2006 an increase of 4.1 per cent on 2005's total of 2,254,000 corporate subscribers.Collectively, personal and corporate PMI plans now cover 5.9 million people in the UK. Commenting on the statistics, Nick Starling, the ABI's director of general insurance and health, said: "Private Medical Insurance offers people greater choice of treatment and other services for a wide range of medical conditions and injuries. It also takes pressure off the NHS, so by buying PMI, people are effectively reducing the burden on Britain's hard-pressed health service. "It is encouraging that more individuals are choosing to buy PMI for themselves and their families. PMI bought by companies on behalf of their employees has continued to increase in popularity too, helping to ensure that people can get back to work sooner after illness or injury."
Should we believe the Nationwide forecast for the property sector?
Despite the fact that many analysts and economists are downbeat on the prospects for the UK economy in 2010, today's Nationwide report on UK property sector seems to offer a very different opinion of the prospects for the UK. The report suggests that UK property prices will increase by around 10% in 2010 which is something many people do not agree with. So who should we believe? There is no dou...Read More
EU regulations will increase credit card refunds
New EU regulations, which will come into force in the UK in November, will see more and more credit card holders able to reclaim for payments which were not pinpointed at the point-of-sale and eventually turned out to be more "than they had expected". Under the new legislation, which will be part of the EU's payment services directive, credit card holders who dispute their bill will be able to req...Read More
Mortgage approvals fall again
30/05/2014 The number of mortgage approvals has fallen for the third consecutive month, according to the British Bankers’ Association (BBA). Whilst approved loans peaked at more than 48,000 in January, this fell consecutively every month up until April 2014 when there were 42,173 approved mortgages. However, despite mortgage approvals falling in numbers, the value of money lent to homeo...Read More
Couples fail to discuss retirement funding
A report by Prudential claims that the vast majority of UK couples fail to discuss their retirement options before it is too late. Many over 55's are currently sitting on significant equity in their properties although equity release options are very rarely discussed in detail. Indeed the report suggests that over 30% of couples aged 40 have no idea about the financial strength or the financial we...Read More
Toyota Motor registers first loss since 1941
Japanese car manufacturer Toyota Motor has this evening announced its first loss since 1941 amid the carnage of the car manufacturing industry. This is the latest setback for an industry which has literally falling to its knees over the last few months with thousands and thousands of cars waiting to be delivered to forecourts never mind being sold.
The news from Toyota Motor is expe...