Is your life insured?
While the vast majority of people in the UK know fine well that life insurance could be something of a godsend for those left behind in the event of a tragedy it seems that many people still have inadequate life insurance cover in place. Those who have a mortgage in the UK will have some form of insurance attached to this mortgage which will see the outstanding balance paid off in the event that both or one of the holders was to die. However, should you have additional life insurance in place?
When you consider that the repayments on a mortgage on death will give remaining dependents a roof over their heads, additional cover would allow them to reduce their financial worries in the future. Many people also look to put in place provisions for the children in the event of their untimely death to ensure that they are "catered for" in the future. There are many different types of life insurance available and there will almost certainly be something to suit your budget and your requirements.
Don't be one of the thousands of people in the UK who put off reviewing their life insurance arrangements until it is too late!
Life insurance fraud 'very low'
It has been suggested that instances of life insurance fraud are rare in the UK because the industry takes strong measures to prevent fraudulent claims being made.The recent media furore surrounding the case of John and Anne Darwin, who have been arrested in relation to potential life insurance fraud, has ignited interest in the sector's efforts to prevent people from fraudulently claiming on thei...Read More
Income tax and national insurance could be merged
22/07/2015 Income Tax and National Insurance could be merged into a single “earnings tax”, as chancellor George Osborne has commissioned a review into the simplification of the tax system. David Gauge, the Financial Secretary to the Treasury initiated the new review into the issue by writing to the Office for Tax Simplification (OTS). In the letter he referred to the parallel tax system...Read More
Home insurance prices fall
29/01/2015 Buildings and contents insurance prices have fallen over the last year, according to the Association of British Insurers (ABI). The ABI tracked the price paid for household buildings, contents and combined insurance, and found that insurance premiums have been driven down by competition over the last year, despite heavy flooding through much of the UK. For buildings insurance,...Read More
Hated hand-me downs worth £50 million
Brits are hoarding hated hand-me-downs and inherited items worth a whopping £50 million, according to home insurance provider Abbey. Some 12 per cent of people admit to living in homes cluttered up by inherited items, with the average person owning 12 such items, worth an estimated £9,466 per person. Over half (53 per cent) hide the heirlooms around the house, while one-in-five (20 per cent) s...Read More
No-claims analysis released by Sainsbury's
No-claims bonuses on home insurance policies should be made less confusing for the customer, a provider has said.Sainsbury's Finance has released new analysis, showing that around 75 per cent of such policies do not provide details on how the discounts work.Further, the provider said that eight per cent of the policies charge an extra penalty on those customers who make a claim during their discou...Read More