Briefings



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Five startling facts about insurance payouts

Five startling facts about insurance payouts Issued: 12 October 2016   That may sound like the headline from an ad we see at the bottom of some websites, but it’s not – it’s actually the title of a headline analysis of a major protection insurance survey. It’s a ‘must-read’ as the results firmly debunk that age-old myth that insurance companies wriggle out of paying claims – and if they don’t payout out, then why pay in? Yes, according to a recent survey, many people think that only one in every two claims is successful, a belief that dramatically affects our decisions on whether or not to take out critical illness cover or income protection insurance. Drewberry Insurance’s 2015 Protection Insurance Survey was carried out in partnership with online survey company One Poll and asked nearly 2,000 workers their views on protection policies. To see the full results of the survey […]

The cost of life insurance for smokers

The cost of life insurance for smokers Issued: 13 October 2016   Kicking the habit during Stoptober won’t just be better for your health, it could be better for your wealth, comments the Mirror Online about research carried out by comparison website gocompare.com (click here to read the article). With a packet of twenty cigarettes costing around £9.60, a 20-a-day smoker will be spending around £300 a month, just over £3,500 a year. But if you smoke and want life insurance your premium could, on average, be anything up to £20 a month more expensive adding £240 to the annual cost. “Life insurance can be one of the most important investments you can make for your family’s future,” said Matt Saunders from gocompare.com. “If you’ve used tobacco or nicotine replacement products in the last twelve months, and that includes e-cigarettes and vaping, you’ll be considered a smoker.” On average, a […]

The Rough Guide to Business Protection

The Rough Guide to Business Protection Issued: 20 October 2016   Rough Guides is a leading travel publisher known for its “tell it like it is” attitude, accurate, up-to-date content and authoritative contemporary writing. Apart from its series of guides to holiday destinations around the world, Rough Guides also publishes a number of reference titles and, in partnership with Legal & General, has just published ‘The Rough Guide to Business Protection’, a 52-page guide that’s available to download in PDF format from L&G’s website at http://www.legalandgeneral.com/advisercentre/campaigns/business-protection/the-rough-guide-to-business-protection.html The minds of the majority of SME business owners are usually firmly fixed on the day-to-day running of their business, few taking the time to think much about the ‘What-ifs’ that could be just round the corner. What if I died? What if my business partner died? What if a key person was taken seriously ill and couldn’t contribute in the way that was essential? […]

Royal London to launch life cover policy for diabetics

Royal London to launch life cover policy for diabetics Issued: 24 October 2016   Royal London plans to launch an industry first: a life cover policy tailored for people with diabetes, reports COVER magazine – please click here to read Fiona Murphy’s article. Speaking at the 2016 Cover Summit in London, Debbie Kennedy, head of protection at Royal London, said the new life insurance policy will ‘ask targeted underwriting questions for those with diabetes.’ adding, “A worrying trend is that it is accelerating among young people and children. At Royal London, we thought surely this group of people more than anyone needs access to protection.” Diabetes is a common life-long health condition. Diabetes UK estimates there are 3.5 million people diagnosed with either Type 1 or Type 2 diabetes in the UK and another 600,000 who have the condition but don’t realise it. A worrying trend is that Type 2 […]

‘What if’ your business partner dies? The Rough Guide

‘What if’ your business partner dies? The Rough Guide Issued: 25 October 2016   Small businesses can be vulnerable to losing their owner or a partner from either sudden death or incapacity due to ill-health. Recent research from L&G / VitalityLife showed that in businesses with four directors aged 50, there’s a 30% chance one of them won’t reach 65. That’s worrying when you consider the average age of a business owner is 49 and more worrying when you consider that over 50% of business owners don’t have any kind of plan to offset the effects. Understandably, the minds of most business owners are usually focussed on the day-to-day running of their business and few give much thought to the ‘what-ifs’ that could be just round the corner. So, as a business owner, here are a few ‘what-if’ questions you should ask yourself. What would happen if your partner, or […]

‘What if’ a key person in your business died? The Rough Guide

‘What if’ a key person in your business died? The Rough Guide Issued: 31 October 2016   Small businesses are particularly vulnerable to losing a key person, someone who is essential to the success of the business. A key person may not be the owner of the business, they may be an employee who has a unique set of skills that are critical to its well-being. They may be a designer, someone in manufacturing or even a salesperson; in fact it’s quite possible the business may have key ‘people’ rather than a single key ‘person’. Understandably, the minds of most business owners are usually focussed on the day-to-day running of their business and few give much thought to the ‘what-ifs’ that could be just round the corner. So, as a business owner, here’s a ‘what-if’ question you should ask yourself. What would happen if a key person in your business […]