Life Insurance News in Category "Life Insurance Quote"
If you are not already aware, the European Court of Justice (ECJ) has introduced a ruling that will no longer allow the use of gender as a factor in determining the level of risk for insurance – all insurance.
The resultant effect will be that males and females will have a uniform premium. Traditionally males have paid more for life insurance and women have paid less simply based on mortality statistic. This is factual. The ECJ ruling is contrary to historical evidence showing that being male or female has a bearing on frequency and size of a claim.
All types of insurance are to be effected including life insurance.
Biba, the British Insurance Brokers' Association, said: "Effectively, females will now pay a cross-subsidy for males on their insurance premiums." The ABI suggests that females will see a 20% rise in the cost of life insurance while men could benefit from a fall of about 10%.
Lifebroker thinks that in the whole this ruling is extreme as the fact that females live longer than males is a biological one.
Lifebroker has launched a new Over 50’s life insurance comparison engine due the high demand for this product. It was not that long ago that Lifebroker introduced this channel and had an exclusive arrangement with Scottish Friendly, however with Lifebroker’s objective of offering a site where consumers can compare premiums the channel had to evolve.
James Markwich, Managing Director at Lifebroker said “Scottish Friendly has been the preferred partner due to their ease of use. They have allowed our visitors to access their applications online and get instant cover. It was only a matter of time that we expanded this channel to include other providers to offer choice.”
Lifebroker has now added:
- Shepherds Friendly
- Engage Mutual
Posted under : Shepherds Friendly, Scottish Friendly, Over 50's Life Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products, Engage Mutua, Aviva, Aegon, Armed Forces Life Insurance, AlcoholKnow more
Have a great St. Patrick’s Day everyone; but make sure that you do not drink too much alcohol if you are looking to apply for life insurance in the near future.
The reason for this is that you will be asked about your drinking habits including volume per week, frequency and whether or not you have been advised to reduce your consumption. The answers that you provide will help the insurance company determine if you are a higher risk than average based on whether or not they deem your drinking habits to be within a 'safe level'. If they deem you to have a 'potentially dangerous' bracket, your monthly premium is likely to be increased. British Medical Practitioners continually advise life insurance companies regarding excessive drinking and the associated health problems. If you decide to not tell the life insurance company about your drinking habits when applying for life insurance, you could find that your life insurance policy may be declared invalid.
Lifebroker has found that some life insurance companies have a diverse range of what they believe the be ‘safe’; therefore if you think that you cannot get life insurance due to your level of alcohol consumption it is always worth contacting a life insurance consultant at Lifebroker to see if they can find an insurer that is willing to accept your life insurance application at normal rates.
Are you going to look after your heart this Valentine’s Day? Looking after your health is the best way to keep your heart healthy.
A recent report published by Bupa outlines the best ways to look after your heart.
- physical activity
- stopping smoking
- moderate drinking
- healthy eating
- maintaining a healthy weight
- reducing your cholesterol levels
- high blood pressure
Getting into a routing of 30 minutes moderate intensity activity on five or more days of the week halves your chance of developing heart disease
Giving up smoking reduces your risk heart disease; it also reduces the risk of many other serious illnesses, like cancer and emphysema
Drinking too much damages your heart; causes high blood pressure, damage to your heart muscle and abnormal heart rhythms.
Binge drinking is really bad for your heart. Don't assume it's safe to drink 21 units (for men) or 14 units (for women) at the weekend if you have not had a drink all week!
A healthy balanced diet can help prevent heart disease. Limit the amount of salt, sugar and fat in your diet.
Maintaining a healthy weight
Being overweight increases your chances of developing heart disease and can mean your life insurance is more expensive.
Reducing your cholesterol levels
Reducing cholesterol levels in your blood can help you prevent heart disease. Eat a healthy, low-fat diet.
Diabetes puts your heart at risk. Diabetes can also increase the effect of other risk factors for heart disease, such as smoking and being overweight.
High blood pressure
High blood pressure (hypertension) increases your risk of heart disease. Make sure that if you are over 40 – make sure that you have it checked by your GP or a nurse as you may not know you have it. Search the NHS Directory for more information.
If you are at all concerned about your Heart this Valentine’s please contact your local GP. Please click here to see the full Bupa report.
Lifebroker now offers life insurance quotes for people living with HIV that are more realistic. Lifebroker has been working closely with PruProtect for the last year to make this form of life insurance available via their non intrusive website, however the premiums quoted for life cover have up until now been produced at standard premiums.
James Markwick, Managing Director at Lifebroker said "Quoting standard premiums for this product has been a concern for us at Lifebroker as it does not offer consumers a realistic cost. We have found that all clients that apply for this product have their premium increased due to the higher risk for the insurance company 'PruProtect'. All applications for HIV life insurance are eventually handed over to Hanover Re (PruProtect's re insurer) for strict analysis. Hanover Re then examines the application to calculate what increase to the standard premium should be applied. What has been disappointing for us is that the consumer has not been provided with an approximate cost to gauge affordability."
Lifebroker has raised concerns with PruProtect about this and back in December 2010 added an article to their News Section 'HIV Life Cover Process Needs an Overhaul'. Nothing has been done to improve this.
Lifebroker has taken the initiative and has developed an enhanced HIV life insurance quote engine offering consumers more realistic quotes based on an average increase and are hoping that applicants find that their expectations are now met in terms of affordability.
James Markwick said "We have found that most applicants have their premium increased between £3 - £9 per mille. This simply means that for every £1,000 of cover the premium is increased by £3 to £9 from the standard premium. Therefore the new quotes are increased automatically offering a realistic cost."
Please feel free to contact us if you want to discuss this further or have any other ways in which we can improve PruProtect's process.
Life Insurance; joint life second death
If you are looking for a life insurance policy for inheritance tax planning purposes or to look after a dependent child should you both pass away, many consumers find that a policy set up on a joint life, second death basis is the answer.
Unfortunately not many life insurance companies offer life insurance on this basis. This is also something that comparison websites are not equipped for. Most life insurance products are set in the traditional format of joint life first death. Lifebroker can help you with this type of product as we can help you find a product.
Why would you want to have a life insurance plan?
Katrina Zera, Life Insurance Consultant at Lifebroker said "We find at Lifebroker that most people set up a joint life second death life insurance cover policy for a few reasons - usually to care for a dependent child who may need care due to a disability, while others tend to use this structure for inheritance tax planning."
Here are some typical examples:
- To leave funds for minor children if both parents die or for a child that had special needs (worth having the policy in trust so the beneficiary receives the funds promptly and out of probate).
- To leave funds for self-sufficient adult children as a gift.
Posted under : Inheritance Tax Planning & Trusts, Joint Life Second Death, Trusts, Level Term Life Insurance, Life Insurance Research, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Insurance ProductsKnow more
Lifebroker welcomes other professionals to become a life insurance affiliate whether you are an Accountant, a seller of telephone leads or another life insurance website.
All you have to do is contact James Markwick, Managing Director of Lifebroker in the UK and have a chat about what your plans are. James said "I am finding more and more that other professionals are contacting us to try and work out a solution of how we can work together. These professionals range from Accountants to sellers of telephone leads. Accountants have traditionally referred their clients to Financial Advisers (IFA's), however we are finding that Accountants feel that they get better service and value for money by using the Lifebroker site. Traditional buyers of telephone leads have dropped in numbers due to some of the buyers going out of business or finding alternative arrangements; the knock on effect is that the lead providers need to find an alternative. Lifebroker can be the solution."
Lifebroker only provides life insurance quotes - therfore you can be assured that we will not sell other products to your consumers
Services offered range from:
- instant quotes
- tailored web pages that can be adapted to promote your website and company
- dedicated telephone line for your brand
- call recording
- choose your preferred life insurance providers
- set your own commission rates
- opportunity for applications to be made over the phone
- access to Fastrack applications (developed in house by Lifebroker allowing your clients to apply electronically)
- individual commercial terms (per click, commission split or hybrid)
- star rating guide
- professional life insurance service
- guarantee that Lifebroker will not sell other products to your client as we only provide life insurance
Lifebroker announced a few weeks ago that it would be offering the new Ageas Protect Low Start life insurance product and we are pleased to announce that we added it to our website today. Please click here to see a full list of the life insurance companies that Lifebroker deals with.
Instant Quote Now
The new product from Ageas Protect (formerly Fortis Life) is designed to offer consumers a low cost alternative. The pricing of the product is certainly different to competitors in that it begins very low in terms of the initial premium and increases every policy anniversary. This is very unorthodox compared to traditional guaranteed products that are on the market as the price is fixed from outset, However it is very important to note that when getting a life insurance quote for the Low Start product that Ageas Protect will clearly outline the premiums for the first 10 years when downloading the Personal Illustration from the Lifebroker website. Furthermore Ageas Protect will also inform you in writing what you will pay for the whole term so that you can easily compare it to life insurance products.
Ageas Protect have carefully designed this product with the following consumer in mind:
- Consumers with a set budget that want a high level of cover
- Consumers that may want to pay less for life insurance now, who think that their incomes will increase in the future
- Consumers that require a high level of cover now than they will in a few years' time
- Consumers that are no longer cover by their employer's Death In Service policy
- Consumers that require more than just life cover (Low Start also offers the option of Critical Illness Cover)
If you are interested in the Ageas Protect Low Start product please call Lifebroker on 08452 51 61 71.
As suggested by Lifebroker on the 29th July 2010 in the News Section 'Are PruProtect Missing Something?' PruProtect are introducing a new life insurance product to the UK market. The product is more basic that the current PruProtect Essentials Plan in that is has had some of the additional benefits removed to reduce cost to the consumer.
James Markwick, Managing Director at Lifebroker UK said "It is good to hear that PruProtect have come to the same conclusion as Lifebroker mid last year.
Lifebroker does not know much about the product as yet and look forward to finding out the facts in the coming weeks. As suggested previously it would seem logical that PruProtect remove the Vitality Points Progamme as this would reduce the basic premium. At present PruProtect tend to appear in position 3-4 with most quotations however Lifebroker predict that making this change will push them into position 1-2 so that they can challenge the dominance of Legal & General and Aviva who get the largest share of the UK life insurance market."
As soon as Lifebroker have more details we will add it to our Twitter page. Please make sure you follow Lifebroker UK on Twitter.
Lifebroker wishes you all a very merry Christmas and a Happy New Year for 2011. Whether you are a client of Lifebroker's or are becoming one please feel free to use the Lifebroker website over the festive period to find the best premiums from the main life insurance companies in the UK. Over the festive period make sure that you stay safe and we look forward to helping you in 2011.
- Armed Forces Life Insurance
- Ageas Protect
- Bright Grey
- Business Protection
- Canada Life
- Engage Mutua
- Insurance Products
- Life Insurance Comparison
- Life Insurance Quote
- Over 50's Life Insurance
- Personal Insurance
- Scottish Friendly
- Shepherds Friendly
- Life Insurance Broker
- Life Insurance Research
- Healthy Living
- Level Term Life Insurance
- Heart Disease
- HIV Positive Life Insurance
- Joint Life Second Death
- Inheritance Tax Planning & Trusts
- Insurance Affiliation
- Mortgage Protection
- Legal & General
- Critical Illness Cover
- Income Protection
- Terrence Higgins Trust
- Gift Intervivos Life Insurance
- Income Protection Quote
- Liverpool Victoria
- Fortis Life
- Key Man Insurance
- Diabetes Life Insurance
- Life Insurance for the Overweight
- Friends Provident
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