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."
Lloyds Bank receives record number of complaints
In the first six months of 2010 Lloyds Bank received the equivalent of 1850 complaints each and every working day. This is by far and away the highest number of complaints for any banking brand in the UK and surprisingly only 12% of the complaints were upheld by the company. Even though the figures are potentially distorted by unauthorised overdraft payment complaints, which were subsequently over...Read More
Budget Statement 2014 – What is it?
The Budget is an annual statement made by the Chancellor of the Exchequer about the state of the nation’s finances. Within the statement, the Chancellor of the Exchequer announces proposals to change taxation law in order to strengthen the state of the economy. The Chancellor of the Exchequer, usually just referred to as the Chancellor, is essentially the Prime Minister’s right hand man...Read More
More pay freezes on the way in 2010
While the UK government has already issued a statement confirming that public sector wages will only rise by a maximum of 1% during 2010 and possibly 2011, it would appear that the private sector has taken a harsher approach to the problem. One in five UK companies are looking towards a pay freeze in 2010 and reducing or scrapping benefits such as bonuses and gym memberships for employees. At a ti...Read More
Is there demand for UK property?
Even though we have seen signs that UK property prices are starting to firm up, although some reports suggest there are and some reports suggest they are not, there is no doubt there is interest from UK consumers and UK investors. However, whether this interest is purely "bottom fishing", or a return to former genuine interest levels remains to be seen.
While there is no doubt that...
Could you handle a large vet bill?
While the UK has for many years been a country of pet lovers, could you handle a significant vet bill in the event that your pet needed treatment?
This is a question which many pet owners in the UK should be asking themselves and whether in fact they should be considering pet insurance plans. As with so many other areas of our financial lives it can often be easiest to ignore a pote...