life cover

Many families could not afford a month’s rent if they lost job – Shelter

One in three families in England could not pay their rent or mortgage for more than a month if they lost their job, a study for the charity Shelter suggests.

High housing costs and a lack of personal savings are cited by the charity as reasons for this.

The online survey by pollsters YouGov in July questioned 1,581 people in working families with children.

“Strong protections” are in place for “those who fall on difficult times,” a government spokesman commented.

The spokesman said: “We are introducing the National Living Wage, increasing the personal tax allowance and giving the next generation choice and flexibility in their savings, including the Help to Save scheme for people on low incomes.

“We are continuing to spend around £90bn a year on working age benefits to ensure a strong safety net for the most vulnerable.

“And for those who do fall on difficult times, there are strong protections in place to guard against the threat of homelessness, and ensure we don’t return to the bad old days when homelessness in England was nearly double what it is today.”

Source – www.bbc.co.uk/news

 

StrokeStrokes rising among people of working age, warns charity

There has been a worrying rise in the number of working-age men and women having strokes, a charity has warned.

In England in 2014 there were 6,221 hospital admissions for men have a stroke aged 40-54 – a rise of 1,961 on 14 years earlier, a Stroke Association study shows.

Experts said unhealthy lifestyles were partly to blame for the rise, though the growing population and changes to hospital practice also played a part in the increase of strokes.

Overall the rate of strokes is going down in the UK, however.

Researchers say based on their findings strokes should not be considered as a disease of the old.

Huge costs

Strokes are caused by blood clots or bleeds to the brain and can lead to long-lasting disability. To read more click here

Critical IllnessPeople must consider taking out cover earlier in life as around one in four claims for critical illness (CI) occurs before the age of 40, research has found.

According to data from RGA, which looked at the percentage of life and CI claims in the UK by age group, 8% of people aged 25-40 had a life insurance claim.

This figure rose to a quarter (24%) for CI claims in the same age group.

Kevin Carr, chief executive at the Protection Review warned that putting off buying cover until later in life can be “counterproductive.”

Meanwhile two-thirds (61%) of people aged 40-60 claimed on life insurance, while seven in ten (70%) claimed on CI.

Finally, while just 5% of those over 60 claimed on critical illness, a third claimed on life cover.

Carr added: “Based on this new data around one in every 12 claims for life cover in the UK occurs before the age of 40, which is probably higher than most people would expect. For critical illness the number rises to 1 in 4 which shows that putting off buying cover until we are older can be counterproductive.”

Phil Jeynes, head of account development at PruProtect said: “This data shows us the importance of putting cover in place as early in life as possible. Policies such as Serious Illness Cover pay out on diagnosis of even early stage cancers or less severe heart attacks.

“Conditions such as these can affect people of any age and cover is usually cheaper for younger people, so it makes sense to look at protecting yourself at the earliest opportunity.”

E-cigaretteWhat are e-cigarettes?

In June 2013, Action on Smoking and Health (ASH) estimated there are 1.3 million current users of e- cigarettes in the UK.

Unlike regular cigarettes, e-cigarettes don’t contain any tobacco, however almost all contain nicotine.

With smoking being the largest preventable cause of premature death in the UK, e-cigarettes are promoted as a cheaper and safer alternative to smoking cigarettes, to those who are unable, or unwilling to stop using nicotine.

The majority of e-cigarettes contain a battery, an atomizer and a replaceable or refillable cartridge. The cartridge contains the nicotine along with other substances and often flavorings.

What are the health effects of e-cigarettes?

Although cutting out tobacco and moving to nicotine replacement products is a positive step for your health, the majority of e-cigarettes still contain nicotine.

Nicotine is often considered as the most addictive psychoactive drug – equivalent to, if not more so than, alcohol, cocaine and even heroin. It comes with its own health effects which include increasing your heart rate, increasing your blood pressure and slowing down your body’s ability to heal itself, by making your skin dehydrated. Nicotine users are therefore at a higher risk of heart or circulatory related problems, for example heart attack and stroke, than those who use no nicotine products. Currently, there’s limited scientific evidence on the health effects of the other chemicals in e-cigarettes.

 How do e-cigarettes affect your insurance?

Most insurance companies have separate charges (or ‘rates’ as they’re known in the industry) for ‘smokers’ and ‘non-smokers’ – with smoker rates being more expensive.

Due to the health effects of nicotine, and the high risk of using tobacco products again in the future, non- smoker rates are only available for applicants who haven’t used any nicotine products in the last 12 months – including regular cigarettes and all nicotine products including e-cigarettes, patches and gum etc. When you apply for non-smoker rates, we may ask for a simple medical test (saliva sample) to confirm that nicotine hasn’t been used.

If you don’t currently meet the criteria for non-smoker rates, this shouldn’t put you off applying for the insurance you need now. The good news is we can look into changing your policy to non-smoker rates – once you’ve been nicotine-free for at least 12 months. To be able to change your policy, you may be asked for a signed statement along with a saliva sample.

To find out more about Life Insurance and for a personal illustration, please give one of our qualified advisers a call or email us via “Contact Us”  page with your requirements.

 

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We offer whole of market advice for all types of customers, whether you are a first time buyer, home mover or looking to purchase a buy to let property. Being independent we are able to offer impartial advice from the whole of the market to ensure you get the product that suits your financial needs.

Whether you are looking to protect your mortgage payments or your family, we provide independent advice for life insurance, critical illness cover and income protection from a wide range of providers.

Buildings Insurance is a requirement when you complete on a mortgage the cover is to provide security to the lender, the insurance covers the main structure of your home. It will cover you for subsidence, storm, flood, fire or smoke damage and cover the costs of rebuilding or repair.

Equity release is a way of releasing cash from your property, either through selling a percentage to the reversion company or taking a mortgage on it, while allowing you, the homeowner to continue living there as long as you wish.