Bulletin 19, 2007
Round up
4 - the number of life insurance rate changes announced since the last bulletin (Bupa, L&G, Scot Eq, FP)
40yrs - the new maximum term available for Legal & General's critical illness cover (max age at entry 24)
£5.20 - the average monthly MPPI premium rate per £100 of monthly cover (source: CML)
506,900 - the number of new MPPI policies sold in 2006 (CML)
2,294,900 - the total number of MPPI policies in force at the end of 2006 (CML)
The great PPI swindle?
At LifeSearch it is our nature to deal in facts, and opinions on facts, rather than rumours. But sometimes rumours need to be aired, especially if there is any chance of some consumer good coming from it.
It seems that the really big PPI fines expected by some might not arrive after all. The rumour, you see, is that in the wake of the situation with Northern Rock consumer confidence in the banking sector is weak and hitting high street lenders with huge fines might not help.
Some say the fines will only end up being passed onto consumers anyway, possibly through interest rates.
Either way, let's hope the sharp practices employed by so many to push PPI for the wrong reasons are soon a thing of the past.
We'd like to say 'now' of course, but with misleading internet sales still flourishing we can't. Yet.
Comments of the week
“The nation’s priorities seem misguided, with people more worried about losing their mobile than about how they would cope financially if they had a critical illness. We all know that it is difficult to face up to our own mortality, but when insuring possessions is prioritised above life insurance, then something has to be done. Life Assurance and Protection insurance is widely-available, value-for-money and easy to arrange, so there’s no reason not to consider it."
Bonnie Burns,
Life Insurance
Product Marketing Director, Legal & General
Protection press watch
By our reckoning there have been at least 21 positive and balanced articles about life insurance and protection in the consumer press during the last 5 weeks including the FT, Mail on Sunday, Express, Daily Mirror, This is Money and many more.
Heroes of the week
Esther Shaw & Kate Hughes
Who were both winners at this year's Medical Journalists' Association Awards held last week.
Run jointly by Norwich Union Healthcare and the MJA the awards recognise and reward the talent, enterprise and responsibility of those in the fields of medical, healthcare and life insurance and protection.
Back to Life Insurance Bulletins
