Life Insurance News in Category "Critical Illness Cover"
If you do not have life insurance in place, or already have a life insurance policy why not start 2011 by comparing life insurance with Lifebroker?
Most people spend December shopping for Christmas presents, getting ready for the big day. December is also traditionally a quiet time for the life insurance industry and a good time to apply for life insurance so that by the time January comes your new life insurance policy is in place.
James Markwick, Managing Director at Lifebroker said “As December is quiet, why not shop around during the lull so that you can get the policy you want. By the time Christmas has come and gone you can then start the policy. It seems sensible to me that as a New Year’s resolution that you could get your life insurance policy in place or review your cover to see if you can save money. With the expense of Christmas out of the way it is only logical that consumers want to cut back so that they can get their finances back on track”.
You can use the Lifebroker website to search for life insurance for free. Lifebroker deals with all the main UK household brands such as Legal & General, AXA, Aviva & PruProtect. Once you have decided you can then buy online with now hassle. What’s more Lifebroker’s service is fast and efficient which means that it will not hold up your festive preparations.
Lifebroker specialises in Life Insurance, Over 50’s Life Insurance, Mortgage Protection Life Insurance, Critical Illness Cover & Income Protection. Click here if you want a quote or call Lifebroker on 08452 51 61 71 if you want a life insurance quote over the phone.
HAVE A MERRY CHRISTMAS FROM LIFEBROKER!
Posted under : Income Protection, Critical Illness Cover, Legal & General, Mortgage Protection, PruProtect, Personal Insurance, Over 50's Life Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products, AXA, AvivaKnow more
People generally get life insurance when they get a mortgage, but they neglect the need to choose critical illness cover even though they are far more likely to need it. Critical illness insurance pays a tax-free lump sum on diagnosis of a serious illness; including conditions such as cancer or a heart attack. Claims statistics suggest you are five times more likely to suffer from a critical illness than you are to die before you reach 65. Medical advances mean more people are surviving conditions that might have killed earlier generations.
Critical illness cover has taken some knocks in recent years as the definitions can be very complex. In all honesty, the life insurance companies have tried to make it easy to understand by having their own list of conditions covered. The list can be found in the insurance company’s Key Features Document (the terms and conditions). Furthermore if you see a financial adviser they should explain what conditions are covered and which ones are not.
PruProtect buck the trend in the way that traditional critical illness cover pays out. They prefer to call their cover ‘Serious Illness Cover’. They claim to protect ‘against serious illnesses as well as advanced or life threatening ones.’
They also state that the industry average for critical illness conditions covered is 34. With PruProtect’s Primary Serious Illness Cover you are covered for 100 conditions. With their more comprehensive Serious Illness Cover, you will be covered for an amazing 161 conditions.
PruProtect’s concept is to offer support that mirrors the impact a condition will have on your life; quite simply the more severe your condition, the larger the payment. Click here to visit PruProtect’s list of conditions.
What’s more, if you do not claim the full sum assured, your remaining cover will continue, allowing you to make further claims. Traditional critical illness policies only pay out once and then end, leaving you unprotected.
As stated previously; most people buy critical illness cover when they take on a major financial commitment, however it is so important to shop around rather than getting the first policy you come across.
Have a look at the Lifebroker website to see how PruProtect compares to the other critical illness polices available to you or give us a call to discuss your options on 08452 51 61 71.
Nearly 1 in 3 Brits have decided that life insurance is not as important as having their daily dose of caffeine according to a recent study carried out by Lifebroker.
Brydee Greene, Senior Life Insurance Consultant at Lifebroker in London said "In my opinion a good cup of coffee is a daily necessity that is real for most people. Buying life insurance is not really a tangible process therefore it becomes less important when it comes to prioritizing."
James Markwick, Managing Director at Lifebroker said "A quality life insurance policy may cost you a few quid a day, however eating and drinking at somewhere like Prêt has knocked insurance on the head for many consumers. It is a shame that some people do not see the importance."
Ultimately it is Lifebroker's aim to keep offering quality life, critical illness, mortgage protection and income protection insurance policies to visitors to their site.
James Markwick said "Once consumers see how competitive Lifebroker's life insurance quotes are I am sure that they will think a bit more about protecting their loved ones."
Lifebroker provides 5 star ratings for life insurance products to compliment live pricing and online applications. The ratings system encompass level term life insurance, mortgage protection, critical illness cover and also income protection. When using Lifebroker's website for life insurance quotes the premium and also that rating will be displayed side by side.
James Markwick, Managing Director at Lifebroker said "This is something that Lifebroker has wanted for some time. Lifebroker in Australia has used a similar system for many years now and it was only a matter of time that this became available here in the UK. Lifebroker has a close working relationship with Webline part of Capita Financial Software and it is thanks to Webline's innovation and close relationship with Synaptic (also part of Capita Financial Software) that this has become available. The Synaptic is updated every 24 hours. So far I am impressed with what it can offer consumers in assiting them with their purchaing decisions."
When using the rating system consumers need to use it as a guide only as Lifebroker does not offer financial advice
The guide is aimed at helping consumers choose life insurance by something more than the premium. Most comparison websites only display premiums; Lifebroker can now offer more to consumers.
Bettina Richen, Lifebroker's Sales & Marketing Manager said "The new rating guide really compliments Lifebroker as we are always looking to be innovative. We already have live quotes and online applications. In my opinion Lifebroker are the most forward thinking online life insurance broker in the UK."
Lifebroker is looking forward to seeing how the 5 star rating is used by consumers to assist them in choosing their life insurance.
Posted under : Income Protection, Critical Illness Cover, Mortgage Protection, Level Term Life Insurance, Life Insurance Research, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance ProductsKnow more
Key Man Insurance
Key man insurance (or key person insurance as it is sometimes called) is fundamental to protecting a business that relies on a key person for the ongoing profitability of the company.
New research by Scottish Widows has found that 81 per cent of small-business people who have key people in their businesses are not covered for the loss in profit or cost of replacing those people. This is despite the fact that four in five sole traders believe they have at least one person whose loss through death, critical illness or serious accident would undermine the survival of the business.
In today's financial climate most businesses are too concerned about not spending money, so vital key man insurance gets overlooked. Life or critical illness insurance for a business fundamentally operates in the same way as it would for personal insurance. The policy can be tailored to fit the requirements of the company; for example critical illness cover can be taken out alone or as part of a bundled package, and the income from an income protection policy on a key man can be used to pay for any temporary replacement staff.
Working out how much cover you should have for the key person is a bit tricky, but as a guide there are two common methods; five times net profit the key person brings into the company, or two times gross profit, and also using a multiple of the key person's salary, such as up to 10 times gross income of that person.
Key man or person insurance is taken out by a company to cover someone who is considered to be vital to the business; the key is to establish the insurance correctly. The ownership of the policy is vital and you can either see a financial adviser and pay full commission or visit some of the major insurance company websites to get more information. Aegon have a dedicated key man insurance section on their website that is publicly available. It is worth downloading the guideline documents to see what is involved. If you need advice you must see a financial adviser, or if you just want some free information and discounted key man insurance quotes contact Lifebroker.
Posted under : Zurich, UNUM, Friends Provident, Key Man Insurance, Fortis Life, LV=, Liverpool Victoria, Income Protection Quote, Income Protection, Critical Illness Cover, Legal & General, PruProtect, Level Term Life Insurance, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products, Canada Life, Business Protection, Bupa, Bright Grey, Aviva, Ageas Protect, AegonKnow more
Comparison websites are everywhere - even the major supermarkets in the UK are launching their own comparison sites with ASDA being the latest. Lifebroker actually specializes in life insurance products (life, critical illness and income protection) and feels that it is better to specialize with the end result to be the best and not just 'one of the others.' James Markwick, Managing Director of Lifebroker said "when we launched Lifebroker in the UK it was clear that we had to specialize. There are too many comparison sites that sell pretty much anything from utilities to credit cards. I think that it is too confusing."
Lifebroker is pleased to only offer life, critical illness cover and income protection and feel that this is easier. Mr Markwick adds "as Lifebroker does not offer financial advice and it is really important that we promote clear and concise information throughout our website. We are not one of those sites that bombard visitors with other products or unwanted advertising."
At present the Lifebroker site uses a rebate structure to make their premiums lower and they are looking to enhance their customer experience by adding research to the site that will allow clients to choose their insurance based not only on cost but also on the fundamental features of the product. Mr Markwick says "this is something that I have seen in overseas markets. Clients will consider buying a slightly higher priced product due to the fact that it may be superior in quality. This will help them see more value."
Comparison sites in the UK are based mainly on price and Lifebroker want to change this.
Posted under : Zurich, UNUM, Friends Provident, Fortis Life, LV=, Liverpool Victoria, Critical Illness Cover, Legal & General, Mortgage Protection, PruProtect, Level Term Life Insurance, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products, Canada Life, Bupa, Bright Grey, Aviva, Ageas Protect, AegonKnow more
National Non Smoking day is in its 27th year and is making progress
It is three years ago that the UK Government banned smoking in the workplace. The current smoking rate is 20%, however in the last 10 years it has steadily reduced. According to the Office of National Statistics the smoking rate in 2000 was 26%, by 2007 it had dropped to 22% and the latest figures for 2008/2009 show that it is sitting at 22%.
The Government wants to reduce the smoking rate to 10% by 2020 - they have some work to do. They have an new initiative that will concentrate on young people and preventing them from starting in the first place.
On top of the obvious health improvement of giving up there is also huge savings to be made. According to Lifebroker a 35 year old male who smokes will pay £29.23 per month for £250,000 level life cover over the next 25 years. For a non smoker the same policy would cost £15.56 per month, almost half the price.
Bettina Richen, Sales & Marketing Manager at Lifebroker said "not only are there the obvious health benefits that can be made from stopping smoking, but also there is a financial one that is two fold; saving you money from not buying cigarettes and also your insurance premiums dramatically reducing". Ms Richen states that you must be careful when looking at the definition of a non smoker as it means that you must not have had a cigarette in the last 12 months or used any other form of nicotine product. Ms Richen said "Make sure that you read the small print as some insurers include nicotine patches or even gum as part of the smoking status question. You must have not used nicotine products for 12 months. Be aware that some providers also have random checks to ensure that you are still a non smoker or you have not lied on your application."
Once you have not smoked for 12 months please contact Lifebroker as we will ensure that you get the best non smoker life insurance policy.
Posted under : Aegon, Ageas Protect, Aviva, Bright Grey, Bupa, Canada Life, Insurance Products, Life Insurance Comparison, Life Insurance Quote, Personal Insurance, Life Insurance Broker, Life Insurance Research, Level Term Life Insurance, PruProtect, Mortgage Protection, Legal & General, Critical Illness Cover, Liverpool Victoria, LV=, Fortis Life, Friends Provident, UNUM, ZurichKnow more
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