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Michael Challiner's Articles in Life Insurance

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Life Insurance – What Price Privacy? There was a time when people were entitled to their privacy, unless they had committed a criminal offence. Sadly those days are long gone and most unlikely to return. It may have started with the Government authorising the taxman to enter your home, and denying you any right of refusal. It seems to have developed from that point, giving a free hand to almost anyone who could put forward a good case for intruding into your affairs. Private companies have not been slow to ge... Life Insurance - Smoke Signals No-one said it would be easy but giving up smoking is really worthwhile and it’s a perfectly achievable aim. Why not join the band of ex-smokers, starting from today? If are you now a reformed smoker, we have some even better news for you. You can expect more than increased life expectancy and a vast improvement in your well-being if you quit smoking. The saving in your life insurance premiums will be noticeable too. Whilst it’s true that you might have to wait a little w... Life Insurance – When You Are Gone Immortality is no big deal. Just imagine getting up on a Monday morning 52 times a year for the rest of eternity. Really only two advantages of eternal life spring to mind – you could start reading ‘War & Peace’ and know that you would have time to finish it, and you wouldn’t need life insurance. However, as mere mortals, maybe we shouldn’t start on a very long book and we should take out life insurance, because we none of us know just how long we have got. Not particular... Critical Criticism Critical illness insurance is designed to pay out a lump sum if you are unfortunate enough to be diagnosed with one of a list of medical conditions specified in the policy documents. There is a wide variation in the length of the lists, some covering as few as eight illnesses and one a staggering 140, but this is a slightly different version, which pays various sums, according to the severity of the condition. Heart disease and cancer head the list on all the policies. Ver... Heavy Drinking Can Increase Life Insurance Costs. Britons are drinking too much, shout the headlines. Out of those who live in Great Britain, two thirds say they drink to excess at least once a week and almost a quarter hurt themselves while they are intoxicated. This is according to a report by the Drink Aware Trust and the British Chiropractic Association. But binge drinking is not just a health issue, but a financial one as well. It hits you not just in the pocket through the excess weekly spending on alcohol, but it c... Life Insurance – When Only The Best Will Do! We’re all too used to hearing about rising prices. But there’s one thing that now costs less than ever – good life insurance! Intrigued? Read on … No-one likes to think about the worst that could happen. But proper life insurance cover could protect your family, providing them with the means to cope financially should you pass on. Life insurance cover is divided into three main types. Here is our jargon-busting guide to de-mystifying what they are, and what they mean: ·... Smoking – More Expensive Than You Think? Are you a smoker? Have you ever tried to give up the habit? The chances are that you have, but like any addiction it can be (and usually is) extremely difficult to stop, and even attempts to cut down rarely last very long. Part of the problem is that smoking can be very enjoyable, but only too often something can turn up which will instantly remove the enjoyment. Unfortunately that ‘something’ will very often be loss of health. The insurance industry is well aware of this ... Life Insurance - Plan For Life The very best time to arrange life insurance is when it’s furthest from your thoughts. Take a typical young man. He’s at the start of his career, possibly still living at home, but thinking of looking around for a flat. He has a car and the insurance that he arranged for it was probably his first step in the insurance ladder. If he decided to take out some life insurance, whilst he’s still young, fit and healthy he’d get the best possible rates. Probably the most valuable ... Life Insurance - One More Step On The Insurance Ladder The recently over 60’s are the post-war baby boomers. Their insurance needs are very different from that of a young family or someone just starting out in their first job. A typical 60 something couple will have raised their family, finished paying off their mortgage and are into or nearing retirement. More and more of this age group of people spend part of their year abroad or maybe are planning to move to the sunshine on a permanent basis. Maybe it would be a good ide... Life Insurance – Think About It. Not everyone needs life insurance. If you don’t have any debts or maybe only minimal ones which would be covered by your disposable assets should you die, then you’re fine. Not everyone has dependants and as long as there would be enough funds to settle your affairs and pay for your funeral, then you wouldn’t be leaving your next of kin any headaches. Not too many people are in this position though. Most have people who depend on them. If you’re the main breadwinner of the... Life Insurance. Cut The Pounds – Cut The Premium Obesity is becoming a real problem in the UK. In the past twenty years the number of overweight adults has snowballed and latest figures estimate that more than half of the population of UK women are classed as overweight or obese. It’s even worse for men, with six out of ten coming into the “tubby or worse” classification. Unfortunately things don’t look so good for the future, either. A survey of children ranging in age from two year old toddlers to the mid-teenagers rev... Life Insurance - Women Furious Over Insurer Gene Testing Thousands of women with family histories of breast and ovarian cancer could pay higher insurance premiums or even be denied cover altogether under new proposals from the insurance industry. The Association of British Insurers (ABI) is expected to lodge an application for permission for its members to ask women whether they have been tested for the BRCA1 and BRCA2 mutations. The faulty BRCA genes are responsible for about five per cent of the 41,700 new cases of breast c... Endowment Policy: Another Forgotten Option These complicated financial products combine life insurance and investment growth in one package. They were most commonly used as a way of repaying a mortgage and were most popular with homebuyers in the eighties and nineties. The reason so many people bought them was because home loan firms and middlemen such as estate agents earned large commissions for selling. The charges tend to be 'front-loaded' meaning most of it is paid up front and therefore, for several years you... Life Insurance - Your Family, Who Cares? Like the ostrich, are you sticking your head in the sand when it comes to insuring yourself? According to recent statistics from the insurance industry, sales of the most basic personal protection insurance products, i.e. life insurance and income protection, have been falling, despite reductions in premiums. Maybe people think if they ignore the need for such insurance, it may go away. It’s never going to happen to them – it can’t. But it can and it does. Lack of income p... Life Insurance Cover – A Good Deal The cost of life insurance has fallen over the past few years and there’s now more choice than ever, at prices that won’t break the bank. If you have a family you could provide security for them by taking out adequate life insurance cover. In the tragic event of your death they would have enough to cope with, without added financial worries. There are various types of life insurance and here we cover the types of term policies on offer. · A level term policy pays a o... Life Insurance And Alcohol Are Not A Good Mix Alcohol is regarded as an antiseptic or a preservative in some cases, but its effect on life insurance costs can be anything but benign. You will almost certainly be asked for information about your alcohol consumption when you apply for life insurance, and it is likely that NHS guidelines will be consulted to determine whether you within the safe level. If your drinking is deemed to have reached the ‘potentially dangerous’ bracket, the cost of your policy may come as a consi... Life Insurance – Doctors Reports Improved. Insurance companies are not in the business of taking on risks without first obtaining as much background knowledge as possible. This applies whether they are insuring your house, your car, your possessions or your life. There is however a difference in the operation of such policies. Whilst there is nothing surprising in those seeking competitive prices being prepared to change insurers as necessary for cover for the material items in their lives, a change of insurer for lif... Life Insurance Bargain Time How can any one know what’s around the corner? It’s probably something you’d prefer not to dwell on, but accidents and fatal illnesses can happen, with the result that your family could be left to look after themselves. Apart from the shock and distress suffered by them, there is the financial aspect. Could they deal with the financial commitments and any debt without your income? This is where life insurance can give you and your family peace of mind that, should the unthink... Critical Illness Insurance. How Critical Can You Get? There’s a new critical illness policy on the market which attempts to go some way with regard to sorting out the perplexity regarding exactly what is, and is not, covered when it comes to claiming on the policy. Traditional critical illness policies tend to cover up to 35 listed medical conditions. Policyholders could become seriously ill with a condition that doesn’t fall into the scope of the policy and find that their illness is not covered, whilst others may be diagnos... Life Insurance - How Well Are You Covered For Skin Cancer? In the good old days (?) before the industrial revolution the economy of this country was largely based on agriculture, and so most of the working class employees spent long hours outside in the fields. Inevitably their skin would have been well bronzed, and in time it became a distinguishing mark of the lower classes. To ensure that no one could possibly mistake them for working class, the fashion of the time for the upper classes, especially amongst the ladies, was for a... Life Insurance - A Weighty Issue As a nation, we are getting bigger. By 2025, according to the latest government statistics, around 33% of girls and 25% of boys will be classifiable as clinically obese. ‘Obese’ is defined as overweight to the probable detriment of a person’s health. In fact the rate at which UK children are getting fatter is set to increase, becoming the worst in the world even above the USA. An estimated £4 billion a year is lost through obesity and related conditions through time off wo... Critical Illness Insurance - Of Critical Importance Twenty per cent of critical illness claims are turned down. That means for every five people making this important claim, one will have it rejected at this crucially important time. The whole reason behind taking out critical illness cover is that, in the event of you becoming critically ill (that is being diagnosed with one of the listed illnesses described in your policy documents) a payment will be made. The reasoning behind your decision to take out what some consider ... Critical Illness Insurance Buying Online. You can buy pretty much everything over the Internet these days and this most certainly applies to insurance. But the process of buying something over the telephone or Internet means that you do not have the benefit of having a person in front of you to explain something in depth if you do not understand. Another thing is that as a growing number of people begin to start buying products online, there are new problems that occur – teething problems shall we say that keep cr... Critical Illness Cover – A Wider Scope Critical illness insurance offers cover for certain specified conditions such as cancer, heart problems, kidney failure, loss of limbs, etc., The cover is quite simple and straightforward, in that if you are diagnosed with one of the severe illnesses listed in your policy a payment is made. On average 35 conditions would be considered as falling into this category with most companies. There is just one company, Virgin, who vary the cover by offering severity-based payments wh... Better Medical Reports For Life Insurance In about every four in ten cases when someone applies for Life Insurance, the insurer has to obtain a medical report from a General Practitioner. They need the reports when someone has declared that they have a medical condition on their life insurance application form. The applicant then has to give consent that the insurance company can gain a medical report from their GP. The GP gets called on to supply information about the specifics of that medical condition and any o... Life And Critical Illness Insurance - Good Health? In common with the rest of Europe, life expectancy in Britain is increasing. A man can now expect to live to 76.2 years and a woman to 80.7 years. This is wonderful news, but unfortunately we also learn that Britain is not keeping pace with most of Europe in another health aspect. Healthy life years, as well as life expectancy have been the subject of a recent EU study and the results were based on questionnaires which were completed by some 60,000 householders. The focus ... Watchdog Wary Over Critical Illness Insurance. You have taken out a critical illness insurance policy so that if you ever are in the unfortunate situation of developing a life threatening condition, you will be compensated. But what if you wind up with a critical illness that is not guarded against on the insurance policy? What many people do not realise, and what can be of real concern, is that you may find that after you have purchased critical illness insurance you are only covered for up to 35 listed medical condit... Tracing Lost Life Insurance You know what it is sometimes like trying to find your financial documents. You file them away in a safe place, thinking you will know where they are. But the one day that you need them you cannot remember where they have been hidden. It can often be the case that they actually become permanently lost. It is understandable how this can happen with the very nature of something like life insurance. But here is an interesting fact about life insurance policies. There are i...

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