Save on Life Assurance as Premiums Plummet

Andrew Beer
July 19th, 2011
Filed under: Insurance, Life Assurance

Have you been paying the same Life Assurance premiums for the last five to 10 years? If yes, then it’s time to review them.

You can’t pick up a newspaper at the moment without reading about the pensions crisis due to people living longer. Another effect of the increased longevity of the general population has been for life assurance premiums to reduce dramatically in recent years.

If your health has been unaffected over that time, it is likely that you could save money on your premium by finding a better deal (subject of course to the relevant underwriting).

Falling premiums are not the only reason to review your life insurance. You should also review your policy if your own health has improved, medicine has advanced in an area that affects you, or you no longer take part in an activity that was deemed dangerous.

Reasons to review your life insurance

• Premiums have reduced generally
• If you have stopped smoking (for at least 12 months)
• If your health has improved – and if your premium was originally loaded due to medical conditions that are now either resolved or more under control due to medical advances
• If you have lost weight – where your policy was originally loaded based on Body Mass Index (BMI)
• If your policy was loaded for a hazardous activity that you no longer do

If you haven’t thought about your life insurance for a while and want to find out how much money you could save, contact us for a no-obligation quotation.

How Much Life Assurance Do I Need?

Alex Pangratiou
August 31st, 2010
Filed under: General Insurance, Income Protection, Insurance, Life Assurance

The cost of life assurance depends on two factors:

1. How much cover do you want?
2. How long you want it for?

Then you age, sex, occupation, health and smoking habits are taken into consideration.  The other issue affecting life insurance premiums is your medical history and current state of health.

Mortgages

How much mortgage cover do I need & for how long?

You need to cover the amount of the outstanding debt, up until the debt is paid off.

What type of cover do I need?

 Is your mortgage a repayment one? If so, you need a Decreasing Term Assurance policy.

Or is it an interest-Only mortgage, in this case you need a Level Term Assurance policy.

Full Disclosure Gives Peace of Mind for Life Insurance

James Hammond
April 28th, 2010
Filed under: Income Protection, Insurance, Life Assurance

A common concern when talking about various life insurance scenarios is whether the insurance company will pay out on the claim.  The answer is pretty straight forward for life assurance, but confusion can arise with so many different types of other insurance available and an array of different qualifying criteria.

However, recent research published by Moneyfacts looking at Critical Illness cover reveals that such concerns may be increasingly unfounded.  In their findings they state that the total number of claims that did not get paid due to non-disclosure (this is when someone fails to disclose a material fact, such as, a previous illness or a underlying medical condition)  has dropped to less than 2%, and the average payout has increased to 90.5% of all monetary claims made.  This has increased significantly from 2008 when the figure was closer to 75%.

In summary, life insurance companies are paying out more claims, but when you fill in any application the best advice is for full disclosure, noting any previous medical issues  no matter how small they were.  Only then will you have 100% peace of mind.

Insurance is a Shield Against Bad Tenants

Andrew Fowler
April 14th, 2010
Filed under: General Insurance, Insurance

No matter how well you reference check your tenants, problems can and will present themselves.  Your tenant may lose their job, they may refuse to leave your property or they may just fail to pay the rent.  All these problems are going to leave the Landlord seriously out of pocket and even more so when there is a mortgage on the property that still needs to be paid.

These problems and others can easily be protected against, simply by taking out a Legal Expenses and/or Rent Guarantee insurance.  Whether you own one or one hundred properties, these policies provide extra peace of mind and shield you from the problems of unpaid rent or a bad tenant.

If you would like further details of the protections offered through such insurance schemes please do not hesitate to contact us as expert insurance brokers.

Andrew Fowler worked for Limetree Financial Services until December 2010. Feel free to contact another member of our team for help or advice.

Buy-2-Let Investors – Are you Covered to Weather Any Claim?

Andrew Fowler
March 19th, 2010
Filed under: Buy-to-let, General Insurance, Insurance

Becoming a landlord is a good way to both earn extra income and to achieve long term capital growth for your investment.  However, you need to protect your investment and the best way to do this is by having the right insurance.  You should ensure that your cover offers protection against a wide range of instances such as:

• Covered for malicious damage by tenants including unauthorised alterations
• Trace and access cover for leaks
• Accidental damage to fixed glass and sanitary ware
• Loss of rent cover
• Owners liability cover
• Legal expenses

If you have any questions with regards to how you are protecting your investment property please get in touch.

Andrew Fowler worked for Limetree Financial Services until December 2010. Feel free to contact another member of our team for help or advice.