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The Life Insurance Market
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Our Senior Policy Adviser, Matt Morris, was on BBC Radio Scotland last week discussing the dangers of PPI claims companies. They are encouraging people to cancel good non-PPI policies too so they can earn commission.
The interview begins at the 23 minute mark:
http://www.bbc.co.uk/radio/player/b01lsnns
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Scottish Widows has published its delayed critical illness claims stats for 2011 showing it paid out 87% of total claims.
All of the other major insurers published their claims stats between January and April but Scottish Widows delayed the release of its stats.
Of the 13 per cent of claims which were denied, 4 per cent were because of non-disclosure and 9 per cent because the definition had not been met.
Read more here; http://www.moneymarketing.co.uk/protection/scottish-widows-publishes-delayed-ci-claim-stats/1056123.article
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Look out for a great value form of Life Insurance called Family Income Benefit. It sounds like a state benefit but it's actually just a Life Insurance policy that is paid out as a regular tax-free income instead of a lump sum.
It can be particularly suitable for financially protecting full time housewives/house husbands because benefit levels can be linked to the cost of alternative help. It can also be used for protecting school fees, maintenance payments or other regular outgoings.
It also tends to cost less than lump sum Life Cover! Feel free to call one of our LifeSearch advisers if you would like a bit more info.
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