Life Insurance News in Category "Income Protection Quote"

Income Protection is Priority

Lifebroker welcomes the news that the Income Protection Task force is running Roadshows across the UK (Moneymarketing March 18 2010) to make Financial Advisers more aware of the need for this key insurance. Do Financial Advisers need to be educated about the need to provide Income Protection or do the public need to be made aware of the range of income protection products?

Lifebroker is not sure why so few income protection policies are purchased in the UK but they think that they may have an idea.

One thing is for sure though and that is that there is too much confusion in the market. With most protection sales being made via websites there is too many grey areas in defining exactly what income protection is. James Markwick from Lifebroker thinks that there needs to be some clarity in advertising income protection products. Mr Markwick said "when using search engines to get an income protection quote you will find that some companies are actually promoting Mortgage Payment Protection, others Accident Sickness & Unemployment cover, and other websites display it as longer term income protection (traditionally Permanent Health Insurance)." Lifebroker prefers the latter as it is more comprehensive.

Mr Markwick explains further what this means to the purchaser. "For me it is chaotic, definitions need to be put in place so that people know what they are being quoted." Having worked overseas for Lifebroker's Australian office Mr Markwick makes it clear that this confusion does not need to exist; he says "In Australia there is only really one type of income protection and that is of the longer term nature. In the UK I am continually told website sales of income protection are low due to the fact that it has to be an advised sale. I completely disagree with this as I know that many Australians buy the product from the Lifebroker Australia site in the same way. If it is an advised sale why are the advisers not selling it?"

Lifebroker are going to be improving this part of the site to reflect the Income Protection Taskforce's initiative by making it simpler and easier to understand.

Posted under : Zurich, UNUM, Friends Provident, Fortis Life, LV=, Income Protection Quote, Income Protection, Legal & General, Life Insurance Broker, Personal Insurance, Insurance Products, Canada Life, Bupa, Bright Grey, Aviva, Ageas Protect, Aegon

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Lifebroker welcomes Fortis Life

Lifebroker clients can now compare the cost of life insurance from Fortis Life to that of the other main stream life insurance providers in the UK.

Many people in the UK may not be aware of Fortis Life. They claim to provide customers with high quality insurance products and have many awards to support this including; British Insurance 'Claims Initiative of the Year' award 2008, Insurance Times 'Motor Insurer of the Year' 2008. Fortis was the first ever general insurer to be awarded the Incisive Media 'Gold Standard Award' and in 2007, Fortis won the British Insurance 'General Insurer of the Year' award.

Lifebroker looks forward to working with Fortis Life.

Looking to compare life insurance quotes with Fortis?

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Posted under : Fortis Life, Income Protection Quote, Mortgage Protection, Level Term Life Insurance, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products, Ageas Protect

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Lifebroker joins local Shop Smart

Lifebroker joins local Shop Smart

Lifebroker recently joined Shop Smart, a local initiative created by Chris Windridge in late 2009 to promote and increase trade for businesses in the local area. Bettina Richen, Sales & Marketing Manager at Lifebroker said "although Lifebroker is an international online business that operates in the UK and also in Australia and New Zealand, it is paramount that we support local companies and are in touch with our community.'

Lifebroker has a charitable link with the Terence Higgins Trust whereby they provide life insurance to people living with HIV. Lifebroker will be donating £10 to St. Catherine's Hospice in Catherham for every policy that is purchased via the website from a Shop Smart buyer. Lifebroker hopes it is a success.

Posted under : Income Protection Quote, Income Protection, Mortgage Protection, Level Term Life Insurance, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products

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Fortis to Become Ageas

Fortis have proposed that their name be changed to ageas, subject to shareholder approval.

What are the implications for Lifebroker clients that have life insurance products with Fortis?

Not much. James Markwick from Lifebroker said "We have been told that that all that is happening is a name change. This is something the Lifebroker are used to as insurance companies change names all the time. You only have to look at Aviva and how many name changes they have had over the last few years". Mr Markwick added "I have been assured that the change is planned to be gradual and completed at the start of 2011. The proposed change of name does not impact Lifebroker customers' policies or cover in any way."

Lifebroker will be updating their site to reflect the change and the new ageas life insurance logo as soon as possible.

Looking to compare life insurance quotes with Ageas?

Posted under : Fortis Life, Income Protection Quote, Income Protection, Level Term Life Insurance, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products, Ageas Protect

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Income Protection for Cyclists

Lifebroker is an innovative online life insurance broker that thinks differently about the insurance world. James Markwick at Lifebroker recently came up with the idea of promoting income protection to groups of cyclists. Mr Markwick said “this idea came out of an accident that I had towards the end of 2009. I commute to work on a bike and was knocked off by a bus in London. I was not too hurt thankfully but my bike was ruined and I had to get a new one. It got me thinking what would I have done if I had to get a new bike but did not have the immediate funds? This is when I spoke to my colleagues at Lifebroker and we came up with the idea of providing the funds ourselves to anyone that makes a valid claim.”

According to the Department for London there were 115 pedal cyclist fatalities and 2,450 reported seriously injured casualties (in 2008) with the number killed or seriously injured increasing in the last 4 years.

The majority of reported pedal cycle accidents happened in urban areas; these accidents account for 75 per cent of all pedal cyclist killed or seriously injured. This is explained by the fact that 77 per cent of cycle traffic was on urban roads in 2008. In comparison, 64 per cent of all accidents and 53 per cent of all KSI casualties occurred in urban areas.

Lifebroker have pledged to provide up to £1,000 to replace your bicycle if you make a valid claim on your income protection bought through Lifebroker due to being injured in a traffic accident on your bicycle. It is crucial that if you are an active cyclist that you have something in place to replace your income if you are ever caught up in a traffic accident, and with the added benefit of having your mode of transport replaced then getting a quote from Lifebroker for Protection has to be a must. Visit the Lifebroker today and get a quote.

Posted under : UNUM, Friends Provident, Fortis Life, LV=, Liverpool Victoria, Income Protection Quote, Income Protection, Legal & General, PruProtect, Life Insurance Broker, Personal Insurance, Life Insurance Comparison, Insurance Products, Canada Life, Bupa, Bright Grey, Aviva, Ageas Protect, Aegon, Zurich

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Is Your Business Protected?

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, Aegon

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Life Insurance for people with Diabetes

Trying to get personal insurance can be time consuming at the best of times, but when you have a pre existing medical condition such as diabetes can make it even more painful. When it comes to applying for life insurance, critical illness cover or income protection it is paramount that you make the insurer aware that you have diabetes so that you’re a guaranteed to benefit from the insurance if you are to make a claim in the future.

It goes without saying that some insurance companies are more accommodating to people with diabetes that others, however they will all want to know as much as possible about your diabetes. Remember that the more that they want to know about your condition the better as they are more likely to payout. As
a rule of thumb they will write to your Specialist or GP asking them to complete a diabetes questionnaire. The information they get back will allow the insurer to assess whether or not they can insure you; and if so, if they can offer you a standard price or an increased one die to the insurer's increased risk.

Lifebroker specialises in sourcing personal protection for people with diabetes. James Markwick, Managing Director at Lifebroker has some tips that will help when investigating your insurance options, "It is quite simple, to save yourself time make it clear that you have diabetes upfront, and allow yourself time to shop around as the application process can take a while. This will help you avoid a last minute panic buy especially if the insurance is needed for a mortgage. We deal with all the main life insurance companies in the UK and the tend to ask for pretty much the same information, the main things being the type of diabetes you have, when you were diagnosed, your recent HbA1c reading and your height and weight".

Lifebroker offer a free sourcing service where you can submit your contact information and a Lifebroker Consultant will contact you to collect the rest of the information from you via email or over the phone. Lifebroker will then shop around get an approximate cost before you go to the trouble of applying for cover.

Posted under : Diabetes Life Insurance, Income Protection Quote, Income Protection, Level Term Life Insurance, Life Insurance Broker, Personal Insurance, Life Insurance Comparison, Insurance Products

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Coffee at Prêt or Life Insurance

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."

Posted under : Income Protection Quote, Income Protection, Critical Illness Cover, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Insurance Products

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