Monthly Archives: April 2013

Two out of three MS sufferers have one thing in common.

They’re women.

MSThere are around 100,000 multiple sclerosis sufferers in the UK1. In fact it’s one of the five most common critical illnesses claimed for2. What’s more, it affects twice as many women as men1.

MS is also very difficult to diagnose.

That’s why many providers use the standard definition from the Association of British Insurers to make decisions on a claim.

But at Bright Grey our definition is better than that and means you don’t have to wait as long for your diagnosis to be confirmed3.

 

65,000

women in the UK have been diagnosed with MS1

 

81%

of the women who claimed for MS were 40 or younger2

1 in 9

of all women’s critical illness claims were for MS2

Talk to Park Gate. We’ll help you identify your individual protection needs and guide you through the various types of cover available to make sure you get the right cover at the right price. 01489 580020 or email info@parkgate.net

 

Sources: 1. www.mssociety.org.uk, May 2012. 2. Bright Grey claims statistics, 1 July – 31 December 2011. 3. This improved definition applies to menu plans with a quote effective date of 28 May 2012 or later.  

to letThe amendment will see letting agents forced to sign up to a government backed Ombudsman and give tenants and landlords the chance to get money back from rogue agents without resorting to the courts.

Until now many agents have been able to operate with impunity as consumers have had no way of addressing the actions of unscrupulous or negligent agents.

Millions face out of date wills shock

WillsDisputes over wills could soar according to research from Saga Legal Solutions. A third of over 50’s say their financial or family circumstances have changed significantly since they last updated their will.

One in five (17%) have become grandparents and one in ten have moved house without updating their wills, which can set families at war.

Similarly, if a person’s will contains gifts then they may become disproportionate if their circumstances change and their will is not updated.

For example if someone decides to leave their property to their children and the small amount of cash they have to a charity. If these people in later life decide to downsize, exchanging the large family home for a small purpose built flat, leaving residuary cash of £500,000 and do not update their will, then they could end up with the children only receiving the small flat with the £500,000 plus cash held going to the charity.

Also, the law is constantly evolving, therefore it is wise to check that your will is still valid in this regard. Solicitors recommend people look over their will every two or three years to check that it is relevant for their circumstances. However just one in seven (14%) over 50’s check their will this regularly.

If you would like further information on setting up a Will or would like to update your existing Will, please do not hesitate to contact us you can call us on 01489 580020 or email us at info@parkgate.net alternatively you can complete the enquiry form on the Contact us page.

 

LV= paid 95pc of protection claims in 2012

LVThis includes 99% of life cover claims, 91% of critical illness claims, 88% of income protection claims and 98% of unemployment claims.

Protection claims statistics continue to be strong across the industry and highlight that the overwhelming majority of claims are paid.

The most common claims paid under critical illness were for cancer (65%) and heart attack or heart related conditions (18%).

For income protection the greatest number of claims were for musculoskeletal conditions (20%) and mental illness (19%).

More than two thirds (70%) of all claimants were under the age of 55 at the time of claim.

How good is your credit history

credit reportWhen you apply for financial products, lenders will normally check your credit report and use the information, along with their own processes, to assess whether you are likely to repay what you owe on time. This helps them decide whether to offer you the product and which terms to set, such as interest rates.

Other people may check your credit history too. Prospective landlords and employers may see elements of your credit report, so it can also affect your chances of renting a home and job prospects.

Your credit score will be affected by a wide range of factors, including what credit you have had in the past and how you repaid it. This, in particular, helps the lender establish whether you are more than likely going to repay credit in the future.

There is a common misconception that if you do not have any credit you will, by default, have a good credit score.

Not having any credit can give a lender the wrong information, when the lender carries out a credit check, they are looking for a credit profile. If you hold a credit card and use it regularly and repay on time then you are building a credit report over a period of time, this can then be used by the lender as to the credit worthiness and build a picture as to how you conduct your finances.

You should also consider that identities can and are often stolen for the sole purpose of defrauding companies and obtaining goods or services paid for under your name.

With this in mind you should check your own credit report regularly to ensure that nothing has been taken out in your name.

You can request a copy of your credit report from www.experian.co.uk or www.equifax.co.uk

 

Whiteley Shopping Centre

whiteleyWhiteley Shopping Centre has announce that Topshop / Topman will be joining the host of over 50 high quality retailers at the development due to open in the spring. Topshop joins a host of other fashion names including River Island, H&M and Next at the development which is now 82% leased.

There are a number of restaurants, bars and cafes to unwind and relax in. Whether you want a quiet bite or a fabulous meal, there is something for everyone from a quick cappuccino to recharge your batteries to a family meal in the evening.

Among the 56 stores in the centre is a mix of cafes and restaurants offering everything from on-the-move snacks in the contemporary open-air, landscaped areas around the town square, through to a leisurely lunch or a vibrant evening meal.

www.whiteleyshopping.co.uk

Bank of EnglandThe Bank of England’s Monetary Policy Committee has decided to hold base rate at 0.5 per cent and its programme of quantitative easing at £375bn.

The minutes from last month’s MPC meeting showed the committee remained split over whether to launch another round of QE while it voted unanimously to hold interests rates at their current level. BoE governor Sir Mervyn King, deputy governor Charlie Bean and Paul Tucker voted for another £25bn of QE last month.

Bank of England maintains Bank Rate at 0.5% and and the size of the Asset Purchase Programme at £375 billion