January 26, 2011
Life Insurance – Smokers and Overweights pay over 50% more!
Life Insurance – Smokers and Overweights pay over 50% more!
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Home Page > Finance > Life Insurance – Smokers and Overweights pay over 50% more!
Life Insurance – Smokers and Overweights pay over 50% more!
Posted: Dec 16, 2005 |Comments: 0
| Views: 145 |
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The life insurance industry is becoming tougher on smokers and those of us who are overweight.
When an insurance company calculates its premiums, it has to work out the risk of you dying whilst the policy is in force. (Or with Critical Illness Insurance, the risk that you will become critically or seriously ill during the policy’s term.) In this context, smoking and obesity have become increasingly important issues.
The life insurance industry pointedly ignores the views of some Pro Smoking Pressure Groups which argue that smokers under the age of 40 have around the same probability of dieing as non smokers. David Pickett, Life Insurance Manager at Sainsbury’s spoke for the insurance industry when he confirmed “Health risks associated with smoking can have a big effect on life cover costs. It is vital for those who have kicked the habit to review their policies”.
Just how big an effect smoking has on life insurance costs was highlighted in a recent snapshot study by www.express-life-insurance.co.uk. This found that the average smoker paid 56% more than a non-smoker. The study was based on nine of the UK’s top insurance companies and examined the premiums quoted for two men aged 30 asking for £100,000 cover over 25 years. The only difference between the application details was that one was a smoker and the other wasn’t.
The life insurance industry has also recently tightened its belt on the overweight members of society. Previously, only people with a Body Mass Index of 33 or more were considered as overweight. This level has now been reduced by 16%. Now anyone with a BMI of 28 or more is likely to face premiums loaded by 50%. If you’re anxious to know whether that includes you, you’ll need a calculator! BMI is calculated by dividing your weight in kilos by your height in meters and the result squared.
So if you’re intending to apply for life insurance is may be as well to loose a few pounds first – oops kilos – and they’re much harder to lose than pounds!
It’s not quite so straightforward for smokers. To qualify as a non-smoker, most insurance companies insist that you must not have “smoked or otherwise consumed any form of nicotine products during the previous 12 months.” Indeed, some companies go further and extend the qualifying period to 5 years!
Because premiums for smokers and chubbies are so high, it becomes even more important to seek out the cheapest possible prices. As you’re an internet surfer, the odds are you’ll land a good discount. Just search for cheap life insurance and let your fingers do the walking!! You’ll still pay more but the discount will soften the impact on the wallet. Expect online savings of 10% – 15%.
Michael is an exclusive financial writer who writes articles primarily about UK family finance. One of the websites he writes for is Life Insurance Quotes Online.
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What other type of insurance i can sell with my life insurance license?
I have a policy already through liberty life insurance how do i look it up on the internet
I am wondering if i can purchase life insurance on my husband incase of death to cover cost of bills for myself and children
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Life Insurance – Smokers and Overweights pay over 50% more!
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Home Page > Finance > Life Insurance – Smokers and Overweights pay over 50% more!
Life Insurance – Smokers and Overweights pay over 50% more!
Posted: Dec 16, 2005 |Comments: 0
| Views: 145 |
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The life insurance industry is becoming tougher on smokers and those of us who are overweight.
When an insurance company calculates its premiums, it has to work out the risk of you dying whilst the policy is in force. (Or with Critical Illness Insurance, the risk that you will become critically or seriously ill during the policy’s term.) In this context, smoking and obesity have become increasingly important issues.
The life insurance industry pointedly ignores the views of some Pro Smoking Pressure Groups which argue that smokers under the age of 40 have around the same probability of dieing as non smokers. David Pickett, Life Insurance Manager at Sainsbury’s spoke for the insurance industry when he confirmed “Health risks associated with smoking can have a big effect on life cover costs. It is vital for those who have kicked the habit to review their policies”.
Just how big an effect smoking has on life insurance costs was highlighted in a recent snapshot study by www.express-life-insurance.co.uk. This found that the average smoker paid 56% more than a non-smoker. The study was based on nine of the UK’s top insurance companies and examined the premiums quoted for two men aged 30 asking for £100,000 cover over 25 years. The only difference between the application details was that one was a smoker and the other wasn’t.
The life insurance industry has also recently tightened its belt on the overweight members of society. Previously, only people with a Body Mass Index of 33 or more were considered as overweight. This level has now been reduced by 16%. Now anyone with a BMI of 28 or more is likely to face premiums loaded by 50%. If you’re anxious to know whether that includes you, you’ll need a calculator! BMI is calculated by dividing your weight in kilos by your height in meters and the result squared.
So if you’re intending to apply for life insurance is may be as well to loose a few pounds first – oops kilos – and they’re much harder to lose than pounds!
It’s not quite so straightforward for smokers. To qualify as a non-smoker, most insurance companies insist that you must not have “smoked or otherwise consumed any form of nicotine products during the previous 12 months.” Indeed, some companies go further and extend the qualifying period to 5 years!
Because premiums for smokers and chubbies are so high, it becomes even more important to seek out the cheapest possible prices. As you’re an internet surfer, the odds are you’ll land a good discount. Just search for cheap life insurance and let your fingers do the walking!! You’ll still pay more but the discount will soften the impact on the wallet. Expect online savings of 10% – 15%.
Michael is an exclusive financial writer who writes articles primarily about UK family finance. One of the websites he writes for is Life Insurance Quotes Online.
Retrieved from “http://www.articlesbase.com/finance-articles/life-insurance-smokers-and-overweights-pay-over-50-more-8985.html”
(ArticlesBase SC #8985)
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Michael Challiner –
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Michael is an exclusive financial writer who writes articles primarily about UK family finance. One of the websites he writes for is Life Insurance Quotes Online.
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Ask our experts your Finance related questions here…200 Characters left
What other type of insurance i can sell with my life insurance license?
I have a policy already through liberty life insurance how do i look it up on the internet
I am wondering if i can purchase life insurance on my husband incase of death to cover cost of bills for myself and children
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Will Ill-health, Smoking, or Drinking Increase Your Life Insurance Premiums?
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Home Page > Finance > Insurance > Will Ill-health, Smoking, or Drinking Increase Your Life Insurance Premiums?
Will Ill-health, Smoking, or Drinking Increase Your Life Insurance Premiums?
Posted: Jan 07, 2009 |Comments: 0
| Views: 116 |
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If you have a family history of health problems or if you drink or smoke heavily you might be under the illusion that critical illness cover or life insurance cover may be extortionately expensive. Marketing manager at Scottish Equitable Protect, Heather Armstrong, says this isn’t always the case, “Many of those drinking, smoking or eating ‘too much’ may well shy away from cover for fear of being unduly penalised for their bad habits. However, they will most likely find that these vital forms of financial protection cost far less than they think.”
GE Frankona, a specialist re-insurer, says only 25 per cent of the working population have life insurance cover and only 11 per cent have critical illness cover, even though it is generally believed that if you are working and/or have dependants and a mortgage, this security is essential. Many, many people are taking uninformed risks.
If a person were to die their life insurance will pay out on their death and hopefully will be enough to pay a mortgage off, and/or provide any dependants with financial security. In the case of critical illness cover it pays out and helps at this time. Even though medicine is advancing all the time and people are recovering from life-threatening illness, they are often unable to work temporarily or are forced to stop completely; this is when a tax-free lump sum can create the financial security needed.
If a person does drink or smoke premiums may be slightly higher but not as standard and from one insurer to another they vary a lot for critical and life cover. Scottish Equitable doesn’t raise premiums until a person is drinking the equivalent of 4 pints daily. For a non-smoking 35-year-old, consuming less than 45 units weekly, for 100,000 pounds of life cover, the basic rate is 17.70 pounds per month. If you drink between 45 and 65 units weekly it increases to 25.35 pounds per month.
In comparison, it will cost a 25-year-old non-smoker 18.70 pounds per month for 100,000 pounds of critical illness cover. For a smoker this increases to 32.60 pounds monthly, but the premium only rises again if you smoke over 40 a day.
A family history of conditions such heart disease or diabetes does not mean that premiums will definitely be higher. A 34-year-old psychiatrist, Victor Aziz, comes from a family that has many members suffering from diabetes although his brother and his parents do not. Recently, he and his wife took out life and critical insurance cover with LifeSearch from Norwich Union, giving them cover of 125,000 pounds. Their monthly premium costs 37.50 pounds and Mr Aziz was quite surprised that his family medical history did not influence what they pay.
Managing director of LifeSearch, Tom Baigrie, says if you can’t afford to do both, it is wise to cover your mortgage with life insurance and then take as much critical illness cover as is affordable.
“Everyone who can afford it should have critical illness cover,” he says. “If you’ve got dependants you should have life and critical illness cover. The only people who may not require critical illness are those with excellent, not just normal, employee benefits.”
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Filed under Smoking And Drinking
December 14, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
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Home Page > Finance > Insurance > Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Posted: May 22, 2008 |Comments: 0
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Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
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Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
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Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
No Smoking Day – 11th March 2009 Patches, gum, microtabs, lozenges, inhalers, nasal sprays and even hypnosis. There are loads of ways to help you quit smoking – but do any of them really work any better than old fashioned cold turkey? It’s national No Smoking Day again, a day when a quarter of the UK population – that’s 12 million smokers – are encouraged to kick their habit. In fact, every year more than a million people quit smoking on No Smoking Day. The campaign will also highlight the benefits of stopping smoking and how to get help. Community pharmacist and Royal Pharmaceutical Spokesperson – Lindsey Gilpin will be giving advice to the millions of smokers who want to quit, explaining some of the quitting aids available to help, and revealing why smoking is such a hard habit to break. For more information or to book an interview contact annette.harada@tvcgroup.com or call 0207 535 5800 Distributed by Tubemogul.
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Life Insurance Rocketing Up for Smokers
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Home Page > Finance > Insurance > Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Posted: May 22, 2008 |Comments: 0
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Life Insurance Rocketing Up for Smokers
By: Mark Skinner
About the Author
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
(ArticlesBase SC #422301)
Article Source: http://www.articlesbase.com/ – Life Insurance Rocketing Up for Smokers
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Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
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Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
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Home Page > Finance > Insurance > Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Posted: May 22, 2008 |Comments: 0
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Life Insurance Rocketing Up for Smokers
By: Mark Skinner
About the Author
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
(ArticlesBase SC #422301)
Article Source: http://www.articlesbase.com/ – Life Insurance Rocketing Up for Smokers
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Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Retrieved from “http://www.articlesbase.com/insurance-articles/life-insurance-rocketing-up-for-smokers-422301.html”
(ArticlesBase SC #422301)
Mark Skinner –
About the Author:
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
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Article Tags:
life insurance, smokers, life insurance premiums
Latest Insurance Articles
More from Mark Skinner
Learn about the Life Insurance Application Process
Learn about the life insurance application process in this video with Bob Ley from the AIG insurance company. (01:09)
How to Decide on Your Life Insurance Beneficiary
Learn how to decide on your life insurance beneficiary in this video with Bob Ley from the AIG insurance company. (01:33)
How Health Factors into Life Insurance Coverage and Cost
Learn how health factors into life insurance coverage and cost in this video with Bob Ley from the AIG insurance company. (00:43)
For What Periods Should You buy Life Insurance for
Learn the periods of time should you buy life insurance for in this video with Bob Ley from the AIG insurance company. (00:21)
Learn about the Most Expensive Type of Life Insurance
Learn about the most expensive type of life insurance in this video with Bob Ley from the AIG insurance company. (00:22)
Life Insurance – Smokers and Overweights pay over 50% more!
The cost of Life Insurance is going up for smokers and those of us who are overweight. This article explains who is affected.
By:
Michael Challinerl
Financel
Dec 16, 2005
lViews: 145
Cheap Life Insurance Term Life Insurance From Barclays Life Insurance
Life insurance policies are a complicated product, in particular given that there are more than a few different variants and alternatives to decide from. On the other hand, it may perhaps be especially necessary for individuals with dependents, for the reason that it makes a disbursement in the incident of…
By:
Camila Machucal
Financel
Feb 19, 2010
How to reduce the cost of insuring your life
Insuring your life can often be quite an expensive thing to do. Learn more about saving on insurance services and ways to reduce the costs of insuring your life.
By:
David Mayerl
Finance>
Insurancel
Nov 30, 2009
How to insure your life the right way
Insuring your life is a serious and responsible decision but choosing the right policy is not as easy at it seems. These tips will help you get the best insurance policy there is.
By:
David Mayerl
Finance>
Insurancel
Nov 18, 2009
Term Life Insurance – Who Says Insurance Has To Be Expensive?
Term insurance is a bet with the insurance company that you will die and make a claim within a set period of time, known as the term hence the name, term life assurance.
By:
Peter Finchl
Finance>
Insurancel
Nov 25, 2007
Life and Ad&d Insurance Long and Short Term Disability
There are Short Term Disability Insurance and Long Term Disability Insurance coverage. The Short Term Disability Insurance, as the name indicates, provides substitute income for short durations. The Long Term Disability Insurance similarly offers substitute income for long period maybe even up to a personâs retirement age. This insurance is understandably meant for more prolonged periods of incapacity to work.
By:
PeterSaml
Business>
Human Resourcesl
Jul 29, 2008
lViews: 168
In it for Life â Two Ways to Cut Premiums
The importance of having a solid life insurance policy for yourself and your family is rarely disputed these days. The thought of your loved ones having to cope with the financial pressures of the death of or damage to a principle wage earner is too horrifying for many families to even comprehend.
By:
Jack Harrisl
Finance>
Insurancel
May 14, 2008
Overweight Life Style and Life Insurance
It has been concluded, we are the fattest fats that ever were fat! A massive 39% of Brits are overweight, numerically that’s a whopping 23 million people walking around with an extra few pounds.
By:
Onome Okwuosal
Finance>
Insurancel
Jun 04, 2008
What do you need to know Charlotte Auto Insurance
Insurance refers to a way of defending one’s self from unforeseen circumstances, which may impact negatively. There are a number of sorts of insurance insurance policies being supplied nowadays. These embody life insurance coverage, Charlotte auto insurance coverage, medical health insurance, equipment safety insurance, dwelling insurance, and catastrophe insurance. Conversely, insurance is protection offered to a person, group, or group in return for paying premiums.
By:
Feres Berbechel
Finance>
Insurancel
Nov 13, 2010
Choosing the Right Health Insurance For Yourself
Health insurance can be considered an investment on your life. It is the thing that you will rely on especially when you suddenly get sick when you are working. But you shouldn’t rely on health insurance provided by the company you are working in since the company usually have conditions that will just irritate you when you finally avail of them.
By:
Bennyl
Finance>
Insurancel
Nov 13, 2010
Health Insurance Obligations that You Need to Know
A formal contract between an entity that provides insurance services and an individual that seeks to benefit from this agreement, a health insurance policy can be renewed on a specific time frame. It can be renewed monthly or annually depending on a specific insurance agreement contract.
By:
Bennyl
Finance>
Insurancel
Nov 13, 2010
Insurance of any kind is a priority to which each individual is entitled to obtain. No longer can you rely on pure luck to get your car through a day without being unscathed. Or in some instances, yourself without getting hurt.
By:
Bennyl
Finance>
Insurancel
Nov 13, 2010
Farmer insurance will save you from financial problems because of unanticipated happening Common coverage includes loss of income as a result of theft, crop breakdown and the death of livestock. A farmer’s personal home and stuffing are often incorporated with thisâ¦
By:
ayaba mourinel
Finance>
Insurancel
Nov 13, 2010
Home insurance and auto insurance are two types of insurance that nearly all people will need at some point in their lives. When you have a number of different insurance policies, the cost of premiums can quickly become a financial hardship …
By:
ayaba mourinel
Finance>
Insurancel
Nov 13, 2010
A Comprehensive Study of Builders Insurance
The last couple of years were a lousy phase for the global economy. This has made a great impact on the property sector across the United Kingdom. However as the economy is gradually recovering from the prolong sickness, the property sector is also coming back to normalcy.
By:
Simon Steaml
Finance>
Insurancel
Nov 13, 2010
The Direct and Indirect Cost of Bankruptcy
When you make that final decision to file for bankruptcy, it is also the time to consider the cost of bankruptcy. The decision to file for bankruptcy is undoubtedly the last step one would resort to when reeling under financial distress and there are no options available to clear off the economic mess that has engulfed the individual.
By:
Enrique Castillanol
Finance>
Insurancel
Nov 12, 2010
Sub-prime Mortgage Lenders Account for Over Half of UK Repossessions
Over half of the UKâs repossession orders are being brought by sub-prime lenders, according to a BBC report. These lenders cater for borrowers with poor credit histories and account for only 6% of the total mortgage market.
By:
Mark Skinnerl
Finance>
Mortgagel
May 24, 2008
Secured Loans Rise in Popularity as Credit Crunch
The tide is turning for the public perception of secured loans, according to a study carried out by MoneyExpert.com. Traditionally, secured loans were viewed as undesirable due to the necessity of putting up collateral against the loan, which could mean that the borrower lost their property. Now, however, increasingly better rates are making more people re-evaluate the importance of this type of loan.
By:
Mark Skinnerl
Motorists Driving in the Eu Advised to Take Out European Car Insurance
Many British motorists driving in Europe are not nearly as well insured as they assume, according to the Association of British Insurers. The majority of UK insurance policies will cover drivers for the minimum legal requirements whilst in EU countries but eventualities such as accidents, breakdown and theft will not be included, leaving holidaymakers out of pocket and facing a ruined trip.
By:
Mark Skinnerl
Finance>
Insurancel
May 24, 2008
lViews: 267
Millions Losing Out Through Remortgage Confusion
Britons are throwing away millions of pounds a day through ignorance about remortgages, according to a report by Abbey Mortgages. £25 million pounds is being wasted every day because people are paying lendersâ Standard Variable Rates rather than remortgaging their properties. This translates as five million people spending an extra £5 a day.
By:
Mark Skinnerl
Finance>
Mortgagel
May 24, 2008
Many Brits Take Out Personal Loans in Secret
Taking out an unsecured personal loan still carries a social stigma, according to a study by Abbey Loans. A large amount of Britons are taking out loans in secret, as they are too ashamed to admit their financial position to friends and family. Over £7 billion is borrowed in secret each year for a variety of purposes. The most common reason is paying off debts (56%) but 15% take out the loan to make home improvements whilst 7% use it for medical bills and 2% for cosmetic surgery.
By:
Mark Skinnerl
Finance>
Loansl
May 24, 2008
lViews: 242
Loan Leads Firm Introduces Payday Loans as Pawnbrokers Celebrate Profits
Top lead exchange company LeadPoint has launched a âpayday loanâ scheme in the UK following great success with the plan across the Atlantic. The scheme is designed for those on low incomes whose budgets require loans to cover the cost of cheques and other payments. This method could stop households earning between £15,000 and £35,000 per annum from sliding into debt.
By:
Mark Skinnerl
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
By:
Mark Skinnerl
Finance>
Insurancel
May 22, 2008
Hidden Admin Costs Raise Price of Car Insurance
Motorists are being hit by large âsneakâ fees for small administrative tasks on their car insurance policies, according to a study by Uswitch.com. 14 million drivers are paying out further costs to their insurers, even when there is no change to the amount of their premiums, simply for minor paperwork changes. The website estimates that this practice earns insurers £330 million per year.
By:
Mark Skinnerl
Finance>
Insurancel
May 22, 2008
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Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Filed under National No Smoking Day
November 6, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
No Smoking Day – 11th March 2009 Patches, gum, microtabs, lozenges, inhalers, nasal sprays and even hypnosis. There are loads of ways to help you quit smoking – but do any of them really work any better than old fashioned cold turkey? It’s national No Smoking Day again, a day when a quarter of the UK population – that’s 12 million smokers – are encouraged to kick their habit. In fact, every year more than a million people quit smoking on No Smoking Day. The campaign will also highlight the benefits of stopping smoking and how to get help. Community pharmacist and Royal Pharmaceutical Spokesperson – Lindsey Gilpin will be giving advice to the millions of smokers who want to quit, explaining some of the quitting aids available to help, and revealing why smoking is such a hard habit to break. For more information or to book an interview contact annette.harada@tvcgroup.com or call 0207 535 5800 Distributed by Tubemogul.
Video Rating: 5 / 5
Filed under National No Smoking Day
October 27, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Find More National No Smoking Day Articles
Filed under National No Smoking Day
October 21, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Related National No Smoking Day Articles
Filed under National No Smoking Day
September 30, 2010
Life Insurance Rocketing Up for Smokers
Life Insurance Rocketing Up for Smokers
Smokers may be paying as much as £2,000 more in life insurance premiums than non-smokers, according to price comparison website moneysupermarket.com. Following on from last yearâs public smoking ban this is another area in which smokers are being specifically targeted. Premiums for non-smokers have slowly fallen in the last few years whereas those for smokers have risen sharply, some estimates claim that smoking policy holders are paying up to 100% more than their non-smoking counterparts.
The same is true of critical illness cover, which pays out a lump sum in the event of the policy-holder contracting a serious illness or injury. Smokers are seen as much more of a risk to insurers as the number of medical conditions that they could develop is far greater than that of a non-smoker.
According to Michael Challiner, editor of Express Life Insurance, this dramatic disparity is due to the increased competition between lenders brought about by the advent of the Internet: âIt is now so easy to reach a decision that a âprice warâ has developed and some very competitive quotations are available. This competition has however had an inevitable effect in that insurance companies have had to tighten up their procedures or risk losing money on the narrower margins. So they have hit the obvious target â smokers.â
Moneysupermarket.com have estimated that a thirty five year old male smoker could save 44% on his premiums if he quit the habit, paying only £9.91 per month over a twenty five year period as opposed to the £17.68 he would currently be paying.
However, Louise Cuming, a spokesperson for the website, has warned that the financial benefits of giving up smoking could be some time coming. Because of the highly addictive nature of cigarettes telling your insurer that you havenât had a fag for a couple of days will not be convincing enough for them to lower your premiums. Most insurers require their clients to prove that they have been a non-smoker for a whole year before agreeing to a reduction in premiums. When this reduction comes, however, it could be as much as 60%.
Combined with ever-escalating cigarette prices this news could be the incentive that many smokers need to quit the habit. There are also more policies springing up which encourage and reward positive lifestyle changes. PruProtect is the first to link the cost of premiums to advances in the holderâs health. Speaking on last monthâs National No Smoking Day, Sammy Rubin, CEO, PruProtect, said: âNational No Smoking Day is a time when smokers will be thinking about the true cost of their habit, financially and physically. At PruProtect we support both, and offer those wanting to quit not only a financial incentive by saving money on premiums, but encourage people to lead a healthier life style through our Vitality points scheme. To help those finding it tough to quit, we also offer heavily discounted entry to Alan Carr’s Easy Way smoking cessation courses.â
Mark is an author of several articles pertaining to Life Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Related National No Smoking Day Articles
Filed under National No Smoking Day