Why take out Private Medical Insurance?

January 30th, 2009

Do we need Private Medical Insurance?

Good health is often something we take for granted and we don’t think about what would happen if we needed medical attention quickly. The NHS will take care of you if it’s an emergency, but it’s the very definition of the phrase ‘what is an emergency’ that seems to cause the problems. We all have our own views, and unfortunately if the NHS do not class you as a priority or emergency case, you may have to wait for months or even years to be treated.

For many, having an illness ‘hanging’ over them, whilst waiting for treatment would be unacceptable and they ‘insure’ against this happening by taking out Private Medical Insurance (PMI), providing them with a guaranteed, fast track to treatment should they need it.
However, PMI is not designed to replace all the services offered by the NHS. Some, such as accident and emergency, are beyond the scope of most private hospitals.

To find out more about Private Medical Insurance read our guide or request a quote below:

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House prices continue to fall

January 29th, 2009

But mortgage approvals are on the way up!

Figures have revealed house prices fell again in January, the 15th month in a row.

Nationwide Building Society said prices dropped by 1.3% during the month, while the annual rate of decline hit a new record high of 16.6%.
The latest slide had wiped £2500 off the average price of a home, leaving the average home value at £150,501, a fall of £35,500 from it’s peak in October 2007.

Martin Gahbauer, Nationwide’s senior economist, said: “The price of a typical house fell by a further 1.3% in January”, but added that the three-month on three-month rate of change, which is generally seen as a smoother indicator of short-term trends in prices, had improved for the fourth month in a row.

The price drop seen during the three months to the end of January was 4%, compared with a fall of 4.2% during the previous three month period, although Mr Gahbauer cautioned that it was too early to say that this marked the beginning of a sustained improvement in the short-term trend.

However, figures from the British Bankers’ Association have shown that the number of mortgage approvals rose by 27% in December, suggesting that the recent cuts in interest rates and the fall in house prices during the past year may be tempting buyers back into the market. Economists however stressed that the rise was from exceptionally low levels, and at best was likely to indicate that the steep drop in approvals may have bottomed out.

UK is in Debt until 2029

January 29th, 2009

20 years to pay off Government borrowing

Experts have predicted that it will take 20 years to pay off the Government borrowing debt or to put it another way it will take until 2029 to pay off the debt that Mr Brown has run up on our behalf.

The Institute of Fiscal Studies has warned it will cost workers £20bn a year to pay back the debt over 20 years and that Tax rises or spending cuts were unavoidable.

The news is a bitter blow to Mr Brown who has maintained that Britain is ‘better placed’ to handle a recession than other nations. Yet experts predict that the UK will suffer the world’s worst slump with the economy set to fall 2.8% this year, far worse than the US, Japan, Spain, Italy, France, Canada and Germany.

Shadow Chancellor George Osborne said: Mr Brown cannot answer the simplest question of all: if Britain is well prepared, why do we face the world’s worst recession?” The PM told the House of Commons that the UK is in a ‘deep recession’, thought to be the first time he has confirmed the grim situation. However, speaking of Labour’s plans, Mr Browns spokesman said: “He is absolutely confident the recovery plan is right”.

Last night Chancellor Alistair Darling signalled that the next general election will be in 2010 - and, asked if Labour can win it, he said: “Yes, I think we can”.

Insurance Premiums expected to rise

January 28th, 2009

Insurance premiums to rise in 2009

According to a survey carried out by AON, a leading Risk Management and Reinsurance specialist, the vast majority of UK underwriters expect  to see a rise in insurance premiums during the first quarter of 2009.

92% of Uk underwriters predicted an increase in premiums for vehicle insurance, whilst 74% felt a rise in property rates was on the cards. 69% thought that liability premiums would increase.

Aon commented that, ‘Insurers are looking to make up for three to four years of offering competitive rates, as well as dealing with rising claims costs and a difficult economic environment’.

However, despite rising prices, Steve Redgwell, Aon’s broking director for mid to large sized UK businesses expects competition between insurers to remain as strong as ever.

“Underwriters are still hungry for new business and it is possible for companies to achieve highly competitive rates – as long as businesses can evidence that they are committed to and have a culture of good risk management,” .

Commenting on the prospect of an increase in rates, he said, “We are hearing very strong messages from insurers about rates rising but these have not yet manifested themselves into actual increases.  However, UK companies must be aware of and prepare for the imminent shift in insurance market conditions that could affect their cover and premiums.”

Get Healthy on a Budget

January 27th, 2009

With the credit crunch really beginning to bite, who can afford expensive gym memberships and fancy diets. But there are other ways that you can improve your health without breaking the bank. We take a look at a few:

Drink water

The old favourite but many of us still aren’t drinking enough water. The daily recommended amount is 8 glasses a day which will improve your digestive function as well as help with concentration and better skin. Headaches and tiredness can often indicate that you are not drinking enough water and don’t waste your money on bottled, straight from the tap or filtered is fine.

Cinnamon

As an arthritis sufferer myself, this one really interests me. Adding half a teaspoon of cinnamon to your breakfast cereal, or sprinkling it onto your cappuccino instead of chocolate, can relieve the pain of arthritis as well as lowering cholesterol and balancing blood sugar levels . Even if you don’t like the taste of cinnamon, the  smell alone can boost brain function and improve memory.

Don’t forget to floss

As unlikely as it sounds, there is actually a link between gum disease and narrowing of the arteries (which can lead to heart attacks and strokes) so brushing twice a day and using dental floss could actually help you live longer.

Chewing Gum

As long as it’s sugar free then chewing gum can actually be good for your teeth because it cleans the surfaces of your teeth as you chew. It also and stimulates saliva production, which helps to neutralise the acids that attack your teeth.

A nice cup of Tea (Green Tea that is)

Studies have shown that green tea can lower cholesterol and reduce blood pressure. It can also balance blood sugar levels, helping to prevent Type 2 diabetes. And if you are watching your weight, green tea boosts metabolism which will help you burn off more calories.

Soya Milk

The benefits of soya products include lowering cholesterol levels and protecting the heart, and research has revealed that they may even help to prevent cancer.  Soya products could also help you to lose weight, as it contains arginine, which aids the breakdown of fat. Soya contains isoflavones, which are antioxidants thought to protect the walls of arteries.  Start by adding soya milk to your cup of tea and coffee.

Red Hot Chillies

It doesn’t really matter how you eat them, fresh or powdered, chillies are a great source of  vitamin A, which helps to protect the immune system. Their active ingredient – capsaicin – helps to speed up your metabolism and boost your calorie loss. In addition, they can also help to balance blood sugar levels and have blood-thinning properties, which benefits the heart and blood vessels.

Should you insure your pets?

January 26th, 2009

                                                       A third of Pet owners without Insurance!

Statistics have shown that only a third of the UK’s dog and cat owners actually insure their pets yet research from one of the countries leading pet insurers, Petplan, has revealed that you are far more likely to make a claim on a pet insurance policy than you are on your car or home insurance. Add that to the fact that the average claim under a dog insurance policy is over £700 and over £500 on a cat policy and you quickly realise that pet insurance is no longer a luxury but more of a necessity.

How much will it cost?

As with all insurance, the premiums can vary significantly between insurers so it’s important to shop around and compare prices and cover. There are certain factors that will affect the premiums and not unlike personal health or life plans, age and prior medical history will have the biggest influence on what you pay. Other things to bear in mind when looking for cover are:

Policy Excess

There will almost certainly be a policy excess which is the amount that you will pay in the event of a claim. Typically £40 or £50 but check the small print as some insurers may increase the excess if the claim exceeds a certain figure.

Vets Fees

It’s important to really check this one out as unsurprisingly this is the most common area for claims. Check the overall policy limit but also the amount the insurer will pay for each claim. You may have a annual limit of £3000 but the maximum you can claim for any one condition maybe lower. There will be exclusions so check the small print.

Dental Cover

According to Sainsbury’s bank, treatment for dental and associated problems cost British pet owners over £28m a year, but many pet policies dont even provide dental cover. Of the ones that do, they quite often only cover accidents and not routine dental care. Ideally look for a policy that will provide both.

Lifetime cover

If your pet is diagnosed with a long term illness such as diabetes or asthma it may require ongoing treatment. Some insurers will only pay up to the end of your current policy at which point you would find it extremely difficult to arrange cover elsewhere as you would be required to disclose an existing medical condition. Other insurers, however will provide ‘lifetime cover’ but this option would obviously cost more in premiums.

Check the small print and remember the cheapest isn’t always the best.

Love, Marriage and Wedding Insurance

January 26th, 2009

Wedding Insurance could save the day!

Marriage is one of the most significant events in a person’s life and one of the most costly. According to a survey carried out by The Daily Mail in August 2007, the average cost of a wedding had risen to a staggering £25,000 or about the same as the average national annual income, yet surprisingly few of us consider it be be an expense worth “insuring”. We all insure our houses, cars, personal possessions, our lives and even our holidays but when it comes to one of the single most biggest expenses of our lives, insurance seems to be the last things on our mind. Why is that?

Well, maybe we all get carried away with the occasion or just don’t like to accept that things could actually go wrong. Unfortunately, they can and they do. We all want our big day to go without a hitch, and it’s always safe to be covered just in case the unthinkable happens.  For instance, the photos may not come out, your dress could be damaged, a family member could fall ill or guests could be injured.

The good news is, protecting your big day, needn’t be expensive with comprehensive insurance packages which even cover total cancellation, starting from as little as £30. For more information and quotation, click below.

WEDDING INSURANCE QUOTE AND INFORMATION

We’ve put together a quick checklist of other insurances that you might want to have a look at once your ‘big day’ is over

Life Insurance

Life Insurance should be one of the first things you look at or review once you get married. Remember, you’ve got someone else to think about now.

FOR A QUOTE OR IMPARTIAL ADVICE CLICK HERE

Health Insurance

Combining Health Insurance policies can save you money or if you are part of an ‘employer’ health plan it may be more cost effective to move your wife/husband over to your plan. It’s important to review the benefits and features of your existing Health Insurance plans to see if they need updating now that you are married.

CLICK HERE FOR ADVICE OR A QUOTE

Car Insurance

Don’t forget to tell your insurance company of your change in circumstances and in many cases married couples will get a discount. Now you are living under one roof and both cars are at the same address see if you can benefit from a multi car discount.

CAR INSURANCE FROM SWIFT COVER

Home Insurance

Wedding rings and wedding gifts all need to be covered so check with your insurers to make sure you have adequate cover. If you want to review your insurance arrangements or need cover for the first time, click below

TESCO FINEST HOME INSURANCE