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."
IHT War Exemption Is Ignored By The Treasury
Over the last few years we have seen a number of military conflicts around the world as well as a slow decline in the number of veterans from the first and second world wars. It has recently come to light that under the small print of the inheritance tax laws a service person that dies because of an illness caused during active duty shall have their estate exempted from IHT on death – even...Read More
Norwich Union disappears and Aviva takes over
While effectively the name of Norwich Union began to disappear many years ago, today marks a definitive point in the history of this well-known insurance company, which will disappear altogether. Having operated as a subsidiary of Aviva, the former CGNU insurance conglomerate, Norwich Union will be no more after today as the rebranding exercise reaches the end of the road.
Google announces better-than-expected results
Against a backdrop of the worst worldwide recession in decades, search engine giant Google managed to announce net income for the quarter ended 30 June of $1.48 billion which is up 19% on the corresponding period last year. Despite the challenging trading conditions for all businesses around the world it seems that Google continues to go from strength to strength and is seemingly battling against...Read More
Are Green jobs the future of the UK?
Gordon Brown has this week gone on record to suggest an additional 400,000 jobs will be created in the UK over the next eight years as the country moves towards a "low carbon economy". At a time when the vast majority of the UK population are worried about paying for their energy bills, paying off their credit cards and the possible threat of unemployment it seems that the government is trying to...Read More
The Importance of saving for your child’s future
11/08/2014 According to figures released earlier this year, it now costs over £225,000 to raise a child to the age of 21 years. That’s a staggering amount don’t you think? Here at financialadvice.co.uk towers, where some of us are parents to one or more children, we were blown away by this amount. The study, which was conducted by the Centre of Economic and Business Research (CEBR), adv...Read More