News & Insight

Our expert views and commentary on what’s happening in the world of mortgages and sometimes beyond, along with our regular summary of what the papers say.

Let the taxman help pay for your life cover.

If you own a small business there could be a smarter way to buy life insurance. With a relevant life policy the business makes the payments rather than the person who is covered....

Who is responsible for a mortgage after death?

Dealing with the death of a loved one is difficult enough, and trying to get your head around the financial side of things (like their mortgage) can make things even more complicated.I’ve published this post to help you understand how the mortgage may be handled following the death of a partner or spouse.Even so, it’s important to note that there are lots of other things to consider and every situation is different.If you’re not yet at a stage wh...

How to work out mortgage repayments - and why you should before buying your first home

One of the biggest mistakes I’ve seen buyers make over the years is not working out how much their mortgage repayments will be before they go looking at properties.One of the most common things that a lot of first time buyers do is fall head-over-heels in love with a property without considering all the factors involved; like interest rates, charges, legal fees or their monthly outgoings.Buying a house is probably going to be the biggest purchase...

Life insurance companies make further improvements to critical illness cover

In a little over a month,  LV=,  Zurich and Aviva have all made further improvements to their critical illness policies in an effort to stay ahead of the game and gain meaningful share of the critical illness market.   These are the latest in a series of changes to critical illness insurance in recent years and it is important to understand which changes provide relevant benefits to a significant number of people, as opposed to those that have en...

Buying a protection policy online may have pitfalls

A recent poll by The Protection Review showed that 62% of advisers have concerns about the emerging execution only protection market where clients select and buy their own life insurance on line. The availability of online policies is intended to make the protection market more accessible, allowing individuals to buy policies without advice and help bridge the frequently talked about ‘protection gap’. However, with growing complexity of policies ...

The cost of a child continues to climb

The average cost of raising a child has risen to £222,458 according to research just published by life insurance company, LV=. The cost, which covers the period from birth to the age of 21, includes education, although not the cost of private school which would add a further  £100k-£200k depending on whether the child boards.The survey breaks down the cost by age and spending category.  The university years are, not surprisingly, the most expensi...

Life Insurance with Added Extras

Life insurance is regularly purchased on the basis of which insurer can offer the cheapest rate for the cover required; after all, there is only one circumstance when the policy will pay out, which is the death of the policy holder.  However, there are some extra features that can add real value to a life policy which it would be sensible to consider at the point of purchase. Flexibility Flexibility is a key component of any policy. Most people w...

Availability of new lifesaving childhood cancer treatment could be a postcode lottery.

A frightening story for all parents appeared on the BBC news website this morning.  The news that whilst a pioneering, life saving cancer treatment has been developed for neuroblastoma, one of the deadliest forms of childhood cancer, it is not available for all. At a cost of £65,000 per child, some NHS primary care trusts are funding it, whilst others are saying no. This can leave parents in a desperate situation trying to raise the money through...

Latest statistics confirm over 90% of critical illness insurance claims are paid

Latest critical illness claims statistics from the major life insurers have revealed that the vast majority of claims are successfully being paid. This is contrary to the often held negative view of critical Illness policies, as it is often the “bad news” cases which are declined that are reported in the press.Critical illness policies provide a tax free cash payment to the policy holder upon diagnosis of specified serious illnesses, providing fi...

You’ve never had it so good

That is, it’s never been such a good time to buy life insurance. Rates have fallen in recent years as advancements in medical science have helped people live longer. However, the falling trend in rates could be about to end as two factors are likely to impact on the cost of this all-important cover.Firstly, the use of gender in determining prices for life insurance policies will not be permitted from 21st December 2012 following a ruling from the...

Research highlights shortfall in life cover to pay off mortgages

New research from Gocompare.com, one of the UK’s leading price comparison sites, has revealed that 1.5million households in the UK may have insufficient life insurance cover to pay off their mortgage if either partner were to die.In the survey of 3,000 Brits, only a quarter said they had sufficient financial protection and savings to clear the mortgage and other debts in the event of their death, and 17% of those surveyed said they had concerns a...

Over half of UK adults have no life insurance

Over half of UK adults (56%) have no life insurance according to a new report from Scottish Widows. The research, as part of Scottish Widows’ Consumer Protection Report, estimated that 28 million people in the UK do not have any life insurance in place to protect their loved ones if something were to happen to them.The report, which polled 5,148 UK adults, highlighted common themes regarding people’s perception of life cover and in particular the...

Nearly one in two mortgages not protected by life insurance

Nearly one in two mortgage holders do not have life insurance to protect their mortgage, according to a new survey from Sainsbury’s Finance.  It also found a 47% increase in mortgages not covered by life insurance since it carried out a similar survey in 2006.Overall, the data show that over 7.1million people, with a total mortgage debt of £318 billion, have no life cover in place to protect their home loan.  The supermarket bank highlights the s...

What the papers say- 31st March 2010

The Daily Mail reported today that high street banks are charging borrowers twice as much for life insurance as they would pay if they bought independently. Experts expressed shock at the difference in cost for what is essentially a straightforward policy where the main factor is price, and consumers were urged to shop around rather than taking a policy through their bank or lender for convenience. The Daily Express also looked at life insurance,...

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