Bulletin 24, 2006
Round up
3 - the number of life insurance rate changes since the last bulletin, Bright Grey, Scottish Equitable and Legal & General.
10 - the number of things wrong with PPI according to Moneyfacts.
1,800 and rising - the number of recipients of this bulletin.
13m - the number of people in the UK who will be obese by 2010.
60.2m and rising - the latest UK population estimate from National Statistics.
Comment of the week
'As a Medical Doctor, the father of Critical Illness Cover and someone who lives everyday with Cancer, Prof Marius Barnard is well qualified to ask and answer the question - What is an extra year of life worth?
For many people this is a nigh on impossible question to answer. However, Marius' reply is simple - Everything.
The life insurance protection team believe that as an industry, we need to move our thinking on affordable life insurance protection needs and Critical Illness Cover. In particular, we need to move away from being focussed on decreasing term life insurance covering mortgage debt, and reposition it as a solution to more holistic financial needs. In particular given the costs associated with advances in medical science Marius advocates that we start to consider the growing need for contingency critical illness cover.
As Marius always tells me, life has plans for us but we don't know what they are so perhaps it is worth making the contingency to plan for life.'
Johnny Timpson,
Client Relationship Director - Protection, Scottish Widows
Hero of the week
Liverpool Victoria
Who will soon be introducing the excellent counselling services provided by Red ARC to all Critical Illness policies, both new and existing.
LifeSearch has promoted the very real consumer benefits of such services for many years, to the extent that all new LifeSearch policyholders – whether for level term life insurance, decreasing term assurance, critical illness, income protection of family income benefit - since November 2004 automatically receive the service, free of charge, regardless of which life insurance and protection product or life insurance provider we recommend.
One of the best features of Red ARC is that their services are triggered upon diagnosis, and not upon payment of claim.
As always, we encourage more providers to consider adding such services to their proposition - and we don't mean so called help lines that nobody uses.
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