How to find the cheapest UK Life Insurance Quotes

April 9th, 2009

How to save money on your Life Insurance Premiums

1. Price comparison site vs FSA Intermediary?

Both. The easiest way to save money is to shop around. Getting a quote from a price comparison website is the quickest way to get a feel for what you should be paying but then speak to an FSA Authorised Intermediary. They will be able to give you the best advice and make sure the cover is what you need. And they will be just as competitive as online quotes.

Get an online quote here!

Get a quote from an FSA Authorised Intermediary here!

2. Review your existing cover

If you already have cover, review it every few years to make sure it still fits your needs. As our lives change, so do our requirements for life insurance. Something you needed cover for 10 years ago might not be relevant anymore. Also, premiums have come down in recent years so even if you still need the same amount of cover, you may be able to get a more competitive quote. Again, speak to an FSA Authorised Intermediary for advice.

Get advice from an FSA Authorised Intermediary here!

3. Stop smoking

Easy to say when you are not a smoker, I know, but aside from the obvious benefits of quitting like better health and saving a fortune in cigarettes, giving up smoking can reduce your life insurance premiums significantly although you will usually need to be cigarette or tobacco free for at least 12 months.

4. Get healthy

Again, a bit obvious but if you are requested to take a medical by your insurance company, being in better shape and not overweight will have a huge affect on how much you pay.

5. Apply early

Although it’s rarely too late to take out life insurance, the younger you are the better. Premiums for an average 20 something male will be a fraction of a 40+ male, but remember health and smoking can play a massive part, so age alone isn’t the deciding factor.

Finally, remember the reason for taking out Life Insurance. It isn’t for you, it’s for your dependants, your family and loved ones so whatever you do, make sure they are adequately protected.

Life Insurance - Necessity or Luxury

April 9th, 2009

Britons cancelling Life Insurance cover as credit crunch bites

Worrying stastics have revealed that over half a million Brits have cancelled their life insurance cover altogether in an attempt to save money as the credit crunch bites

The report by Sainsbury’s Finance has revealed that an estimated 500,000+ Britons have cancelled their life insurance cover in the last 12 months and  four percent of all life insurance holders have switched providers in the last year to obtain cheaper cover.

“Given the financial state we’re in it’s inevitable that people are going to be looking to make cut-backs, but it’s a real concern when those cut-backs leave them vulnerable to far greater expense down the line,” said Sainsbury’s home insurance manager Neil Laird.

However, life insurance premiums can vary greatly and in recent times premiums have actually fallen so it is always worth speaking with an Independent Financial Advisor to make sure that you are paying the correct premium for the cover you have.

For a free and impartial review of your life insurance cover CLICK HERE

Aviva announce 1100 job losses

April 3rd, 2009

Aviva have announced that 1,100 jobs will be lost in the next 12 months

The UK’s largest Insurance company, Aviva(formerly Norwich Union) announced that it would be axing 1,100 jobs throughout the year. The bulk of the losses will be at the firms Norwich and York branches, with 590 positions being lost over the coming months.

The news is the latest blow to the finance industry, which has suffered over recent months. 

Derek Simpson, of financial services union, Unite, said: “The announcement by Aviva to cut 1,100 staff will cause alarm across the insurance industry.” He believes that Aviva are repeating what appears to be an annual exercise of cutting jobs.

He added: “Today we see a scenario where a company that is continuing to deliver positive results is slashing the staff that have enabled them to weather the current financial storm. It is unacceptable that once again shareholders received their full dividends, while the workers who brought the company this success are rewarded with job losses.”

“The Aviva workforce is continuing to live under constant uncertainty about their future. Unite has been told that these job losses are unrelated to the economic downturn.”

Aviva recently announced that it had experienced a £885 million-dent to its profits.

Further insurance industry job losses were also announced by reinsurance group Swiss Re, who said they planned to cut 10% of their workforce - equivalent to around 1,150 jobs - as part of an efficiency drive.

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.

Take out adequate Life Insurance cover - Winston Churchill 1874-1965

November 11th, 2008

Millions of Britons are without life Insurance cover. Research has revealed that in excess of 30% of the UK adult population do not have any life insurance cover. The alarming statistics were blamed on the current economic climate, and the 37% of individuals considered essential bills and mortgage payments a priority over life insurance cover. Many people consider life insurance to be a personal choice issue and fail to realise the effect on families and loved ones, in the unfortunate event of a bereavement. The people who are affected the most by death are the ones who are left behind and adequate life insurance cover can ensure that they have an opportunity to rebuild their lives in financial security.

Experts believe that more should be done to highlight the issues and new marketing methods should be created too ensure that people realise the considerable risk of not having any or sufficient life insurance cover.

“If I had my way I would write the word ‘Insure‘ upon the door of every cottage and upon the blotting book of every public man, because I am convinced for sacrifices which are inconceivably small, families and estates can be protected against catastrophes which would otherwise smash them up forever. It is our duty to arrest the ghastly waste, not merely of human happiness, but of national health and strength, which follows when, through the death of a breadwinner, the frail boat in which the family are embarked, founders, and women and children of estates are left to struggle in the dark waters of a friendless world”

Winston Churchill 1909