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Latest Life News

Wedding plans affected by credit crunch

According to new research one in ten couples are having to re-think their wedding plans because of the effect of the credit crunch.

Approximately one third of the couples interviewed are

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All at sea - time to think of insurance

As well as being a wonderful playground, the sea can be a dangerous place so with all the marine craft currently being launched ready to enjoy Spring and Summer, it is a

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Migraines warn of heart attacks

A study by the Harvard Medical School has found a link between migraines and strokes/heart attacks which could lead to a more intense monitoring of migraine sufferers.  This in turn

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Black widows do not get death penalty

Two women aged 77 and 75 convicted of the murder of elderly men by staging hit and run killings disguised to look like accidents, and then claiming the life insurance,

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Planning a Spring or Summer wedding

Spring and Summer have to be the most popular times for tying the knot.  After months of dreaming and planning, don’t let anything ruin what should be one of the

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Buy a house and get insurance free

A house owner from Wisconsin, USA has advertised his house for sale and as an incentive to potential purchasers he has offered to throw in the proceeds from his life

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Best mortgage rates are going fast

As Nationwide declare growth in house prices to be the lowest for 12 years, mortgage advisers warn that some borrowers will find it impossible to obtain a new mortgage.

First time

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A large percentage of brides end up in the divorce courts

Figures out today show that nearly half of newly wedded couples will end up getting divorced.

The Office for National Statistics says that 20 years ago the divorce rate was 37% ,

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Four times as much debt as a decade ago

A report by Help the Aged and Barclays has disclosed that one in four people due to retire imminently is currently in debt and owes four times as much on

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Less drugs more cod liver oil

Recent research has shown that by taking two teaspoons of cod liver oil per day the number of painkillers  taken each day to relieve the pain of arthritis can be reduced

[more...]

 

A guide to life insurance

Listed below is a helpful guide to some of the terminology that you will encounter. You should read this prior to selecting a policy from the menu above.

What is life assurance
What is critical illness protection
What is income protection
What is mortgage payment protection
What is private medical insurance
What is wedding insurance

What is life assurance

Life assurance provides a cash benefit to your family if you die while the policy is in force. It is a way of providing protection for, amongst other things, loans, mortgages and your dependants. You can apply for life assurance for yourself or for joint cover. If you choose joint cover the policy only pays out once, on the first occurrence of death or terminal illness.

Depending on what type of plan you opt for, the benefit can be taken as either a cash lump sum, a regular income, or a combination of both and can be used for any purpose.

To determine the amount of lump sum your dependants would need in the event of your death you should calculate the total amount of the following:

  • Your income multiplied by a number of years (an average number of years is 5 but this is dependent on your individual circumstances eg, children's ages)
  • Outstanding mortgage amount
  • Outstanding loans amount
  • Funeral expenses
  • Education for your children
  • Other (eg. wedding costs)

Life assurance usually cannot be cashed-in although there are certain policies which allow you to do so if you wish to have a smaller lump sum paid in the event of your death.

What is critical illness protection

This type of cover provides a lump sum payable on the diagnosis of certain major illnesses. There is no benefit payable in the event of death, however it can be built into a life assurance policy.

This is an ideal method of providing a capital sum at a difficult time for you and your family or business.

What is income protection

Income protection insurance is to cover your lost income due to disability or unemployment resulting in being unable to work.

What is mortgage payment protection

Mortgage payment protection insurance is designed to help you to protect your mortgage payments and insurance premiums for up to 12 months if you become unemployed or suffer a disability (accident or sickness).

What is private medical insurance

This cover provides private healthcare, which is primarily designed to pay for the treatment of medical conditions, including surgery, from which the patient should make a full recovery. The cover allows you to select different levels of benefit using different hospitals. It can therefore be tailor-made to suit your budget.

What is wedding insurance

Wedding insurance provides a back-up should the whole thing be called off. Should you become ill, have an accident or death in the family the insurers will pay for the money you have lost in deposits and other expenses. Should anything be damaged or stolen on the day, such as the presents or spilled wine on the wedding dress, damage to hired vehicles or someone suffering a personal injury you will be able to claim compensation.

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