Bulletin 28, 2006
Round up
0 - no life insurance rate changes since the last bulletin.
40% - the number of people who would give up sex in return for living to the age of 100, according to research from life assurance company Bupa.
50% - The number of HR managers and directors who believe that the major drawback to employing people over the normal retirement age was increased sickness, also from life insurance provider Bupa.
8.7m - the number of people who have bought financial products via comparison websites in the past year, according to MoneyExpert.
Comments of the week
‘Financial comparison websites are potentially damaging for consumers.’
MoneyExpert
‘I’m amazed by the fiasco over MPPI. A classic case of the Government not knowing what its right and left hand is doing.’
Peter Le Beau,
Le Beau Visage
‘One problem which will come to haunt this Government is the unsustainable level of personal debt. I have warned of this for several years and have been accused of scaremongering. The truth is that millions of young people have borrowed to the hilt to buy a house and finance a comfortable lifestyle. This borrowing binge assumes that interest rates won't rise – but they are; that unemployment won't rise – but it is; and that house prices won't fall – well, they very well might! There are no longer any social safety nets for mortgage payments if people lose their jobs through market conditions, pregnancy or illness. Few are fully insured. The inevitable consequence is growing repossessions and bankruptcy, which we can already see.’
Vincent Cable MP,
Shadow Chancellor, Speaking at the Lib Dem conference
‘I signed the early day motion (1884 – No advice No protection) because I was so annoyed by the impact of people like Tesco promoting cheap as chips life insurance without pointing out the downside. People who are specialised in selling this life insurance are being squeezed out to the margins, which is very concerning.’
Lorely Burt MP,
Lib Dem Small Business Spokesperson, Speaking at the Lib Dem conference
Heroes of the week
The winners in the protection categories from last week’s MoneyFacts Awards, as follows:
Best Life Insurance Protection Service – Legal & General
Best Income Protection Provider – Liverpool Victoria
Best Critical Illness Provider – Scottish Provident
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