Life insurance

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

 

TestimonialsEveryone at Parkgate were absolutely brilliant, Kevin, who I dealt with was brilliant very concise and clear about what he needed then he went away for a few days worked his magic and got me a great product. No pushy advice or trying to sell a certain product, just the facts plain and simple and advice when I asked a question. I now recommend him to everyone I know. Will be using again.

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

TestimonialCannot speak highly enough of the team at parkgate. Kevin has been extremely patient and approachable with me during the whole process. Nothing seemed to be too difficult for the team. I will certainly recommend this to others. Thank you.

BOEThe Bank of England’s Monetary Policy Committee has once again voted to keep base rate at 0.5 per cent, the 61st month of record-low rates. The MPC also voted to keep its programme of quantitative easing at £375bn.

The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.5% on 5 March 2009. A programme of asset purchases financed by the issuance of central bank reserves was initiated on 5 March 2009. The previous change in the size of that programme was an increase of £50 billion to a total of £375 billion on 5 July 2012.

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.  

You can choose to take a single life plan out that can cover just yourself, your spouse, your civil partner or someone else you share a financial commitment with.

A single life plan covers you only and will pay out if you die or if you are diagnosed with a terminal illness during the plan term.

With a joint life plan it covers both people insured for the same amount of cover and length of time. The plan will pay out on first death and will therefore leave the surviving partner without cover.

Single life plan

As an alternative to a joint life plan, each person can take out a single life plan. They do not have to be for the same amount nor do they have to be for the same term. On death, the surviving partner will still be covered.

Taking out two single life plans will be slightly more expensive, but there is not a lot in it, and you need to remember that you are getting twice the cover.

Although we do not like to think of the unthinkable, it can be beneficial in the event that should a relationship break down. Unlike a joint life plan, two single life plans are already owned separately. This would mean that your plan would not need to be cancelled.

A typical situation would be in the event of a divorce and you cancelled the joint life plan. Looking at a replacement policy you would need to consider, your age, your current health and your past medical history, which could make you uninsurable.

You should also consider when taking out a single life plan, placing them in trust, for each other. This will ensure that on your death the proceeds of the policy go to who you want them to go to, when they need it most.

There are many types of trusts available, you should therefore contact us to ensure that you place your life policies in the right trust.

For your personal single life plan illustation call Kevin on 01489 580020 or email info@parkgate.net to arrange a suitable time duscuss your requirements or to arrange a meeting.

Are you sure of what you are getting by buying cheap life insurance direct from comparison websites, yes you will get cheap life insurance, but will it be right for what you actually require. As you know life cover pays out on your death, but what about if you are terminal ill during the last 12 – 18 months of the plan? Will it pay out, when you need it most? Will cheap life insurance always be right?

Life insurance does not have to restricted to people who have mortgages or loans, you might have a family, where your wife/ partner and children are financially dependent on you. What would happen if you were to die, how would they cope, wouldn’t you want them to receive a lump sum at a time when it is needed most.

Cheap life insurance

Each life insurance company is different in how they underwrite cases, their premiums are reflected on the medical information you provide, such as being a smoker, existing medical conditions or hereditary conditions?

At park gate we provide you with the right advice to ensure that you take out the right policy to suit your current and future financial needs.

For a competitive life insurance quotation, please call Kevin on 01489 580020 or complete the enquiry page and I will contact you to discuss your personal requirements.

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Family income benefit life insurance is a type of decreasing term policy. Instead of a lump sum, though, it pays out a regular income to your beneficiaries until the policy’s expiry date if you die.

With a decreasing term policy, the amount you are covered for decreases over the term of the policy. This type of policy is often used to cover a debt that reduces over time, such as a repayment mortgages.

Premiums are usually significantly cheaper than for level term cover as the amount insured reduces as time goes on. The monthly or annual premiums you pay can be guaranteed or reviewable.

Mortgages
life insurance
home insurance
equity release

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.