The low-cost route to pure protection

Article Abstract:

Insurance policies which are purely for protection and not investment are not widely promoted but can be obtained cheaply. The 'Finstat Rate Update' provides figures for comparison. Endowment policies sold with mortgages cost more but include savings. Protection insurance includes term insurance which pays out on death during the term, convertible term policies which can be changed to savings, family income benefit policies and whole of life policies. Investment and protection can be combined in unit-linked whole of life policies but the premiums can rise.

Contracts, Insurance policies

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Juggling charges and pension advice

Article Abstract:

Pensionline is an independent pensions adviser which works out the true costs of pension plans with insurance companies by computer. It also compares managed fund performance. Its service is telephone-based. Clients can choose a total refund of the Life Assurance and Unit Trust Regulatory Organisation (Lautro) commission and a charge of 245 pounds sterling or half the Lautro rate. Scottish Widows is recommended for single contributions. Fiona Price & Partners recommend Scottish Equitable and Provident Mutual.

Services, Pensions, Pensionline

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Smoke gets in insurers' eyes

Article Abstract:

Mortality figures show that non-smokers are less likely to die than smokers, so many insurance companies offer discounts to non-smokers to reduce claims on term insurance policies. Discounts are not usually offered on investment policies or medical insurance. Applicants must state on the application form that they have not smoked a cigarette for 12 months. The premium is that of a younger person rather than a percentage.

Smoking

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