Why Mortgage Payment Protection is so important

Ok so you have just bought your dream home and everything is great.  You are in for 6 months and then you injure yourself at work and break your leg.  Your leg been put in plaster for 3 months and the doctor suggests that you may be off work for another 3 months as you require physiotherapy and rehabilitation before starting back work.

Your next thought though turns to how you are going to be able to pay your mortgage and but food for yourself as you only get 4 weeks sick pay from your employer and then after that you will go onto Statutory Sick Pay, currently £86.70 per week.

Your leg and your dream home shattered in the one incident

However things could have been so much different if you have decided to opt for the Mortgage Payment Protection policy that your mortgage advisor suggested for you as after discussing your needs in great detail he advised you that due to the lack of sick pay that you get at work then it may be prudent to look at protecting your mortgage.

Although Mortgage Payment Protection has been getting some bad press recently within the PPI scandal, it still has a place when trying to protect your mortgage payments in the event of illness or injury

Most policies in the market place will cover you for Accident and Sickness, but in some cases some policy providers will provide you with the full package of Accident, Sickness and Unemployment cover.  You generally can mix and match and it is up to your own circumstances what you choose to select

Most top rated providers will give you cover back to day one so you know that you are covered straight away which will give you complete peace of mind and stop you worrying about paying your mortgage

Again most providers will give you cover up to £3,000 monthly benefit with that subject to a maximum of 75% gross salary

Other features and benefits that you can select will be the deferment period and this will be determined by the amount of savings that you have and are prepared to use or you may have some form of sick pay in work that maybe covers you for 3 months.  So if that was the case then you would make your deferment period to kick in after that period.

It is important to understand though that some areas are not covered on these types of policy and this can be pre-existing medical conditions, Self inflicted injuries, cosmetic surgery or drug or alcohol abuse and in some cases Back conditions, or mental or nervous disorders such as stress.  Before you sign up for this type of policy it is important to read through the policy booklet and the policy exclusions so that you know what you are and are not covered for

In conclusion I would suggest before entering into any type of mortgage payment protection policy you double check the policy schedule so that in the event of a claim you get your pay out. https://www.terminsurancequotesuk.co.uk

 

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Can I get insurance for the rest of my life?

Insurance policies change with our life cycles and one of the last insurances we consider is whole of life insurance as it is associated with people who are older but in reality it shouldn’t be.

These types of policies are for everyone and the reality is the younger you take it out then the cheaper it will be on a monthly basis.

We generally get mortgage protection, family protection and income protection insurance through out of life cycles then eventually look at permanent life insurance to pay out when we die so our loved ones are not left with the cost of the funeral.

So what alternatives do we have with this type of insurance policy?

Whole of life insurance policies only have 2 main differences which you should be aware of which are reviewable premiums and guaranteed premiums which we will look at now.

Reviewable premiums are what they say the insurance company will review your premiums at set intervals and possibly increase your monthly premiums. One thing is for sure they won’t reduce your monthly premium.

This type of policy generally starts with your premiums being lower than that of a guaranteed premium policy but if the premiums are increased then the premiums can surpass that of the guaranteed premium meaning you will pay far more than what you would have paid had you taken the guaranteed premium policy.

The other down side to reviewable premiums is that you may run into affordability issues when you retire as your income will drop but the premiums on the policy may still increase if the insurer feels the need to. In our opinion this type of policy should only be taken as a last resort.

Guaranteed premiums are again exactly what they say, your premium will be fixed at the outset of the policy and will never increase throughout the term of the policy irrespective what happens and is far better for most people as it also allows them to check affordability of the policy when they retire to a certain degree.

Cheaper alternatives to whole of life policies are over 50s insurance and for many especially with health issues these are becoming more popular as you do not have to answer any medical questions nor will an underwriter review the proposal. With this type of policy you are guaranteed acceptance and it will pay out the sum assured as long as you survive longer than 1 year from when you take the policy out. If not then it will return the premiums you have paid to your next of kin or estate.

Finally some people who look at this type of policy also look at a pre-paid funeral plan as an alternative if they can afford it.

This type of plan allows you to arrange what you would want at your funeral and pay for ot today. Some people want white doves other need 2/3 cars and others want horse and carriage but whatever you decide it will be tailored to your needs and the price given so you can purchase it today.

For more information on whole of life insurance then visit https://www.wholeoflifequotes.co.uk

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Tips in Getting Accident Claim in Scotland

Accident claim in Scotland is here to help you win your case in getting compensation cover for the damages an accident or injury had caused you. The country offers a No Win No Fee guarantee to the claimants. In other words, you do not have to pay for a penny regardless of losing the case. The service in Scotland also provides you free inquiries and claiming procedure online. Besides, the solicitors who will handle your case are sufficiently experienced to handle your accident claim. You can be helped wherever you are in Scotland. Additionally, you can also let the solicitors arrange your hospital and home visits.

Tips While at the Accident Scene

You need to gather all the information you need to attest that you are not accountable to the accident that happened. For instance, during a car accident, you need to take note that you will not be dealing with the driver directly in order to claim for the damages caused to you. The insurance company of the driver will take over settling the compensation amount. You need to gather information about the driver, insurance company of the driver, probable stand-in witnesses during the accident, and officer who have come to the scene. If you can take photographs during the accident, you should capture images of the vehicles’ locations, physical damages on each vehicle, and the license plates.

Get Medical Attention

In order to get accident claim in Scotland, you need concrete proofs that you have been affected physically. Since not all injuries will become noticeable right at the accident, you need to visit a medical professional to assess or diagnose your condition. There are symptoms of injuries that develop after six to 12 hours of accident. You should undergo medical scans, x-rays, and other possible exams that will tend to your physical assessment.

Claim as Early as Possible

Although it is allowable for a claimant to file for accident claim in Scotland not exactly after an accident, it is still best to raise your request as soon as possible. This is for the benefit of getting unsullied details regarding the accident, especially if it happened on the road. Your insurance company or your personal injury lawyer will help you determine when to take action.

The Complexity of Accident Claim

Most of the time, accident claim in Scotland involves the compensation for damages caused to the vehicle and personal property. However, if you found out that you are also injured physically, the procedure may be more complicated. You are allowed to get a cover for your mental and physical pain due to the accident, but a consultation with your attorney is necessary. There are circumstances and considerations with the association of medical expenses for physical damages.

Getting Assistance Is Best

Successfully obtaining your accident claim in Scotland is greatly possible if you will hire a personal injury solicitor, who is experienced enough to handle your injury claim legal proceedings. A professional will help you feel at ease in winning the case regarding your rights.  https://www.personal-injury-scotland.co.uk

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Key Points in Claiming Compensation for a Missold Abbey Life Pension

People’s perceptions when it comes to pensions, annuities, and retirement money were tarnished due to mis-sold products, including a missold abbey life pension. Consumers have been very cautious in purchasing life plans and pension policies. There are varied entities on the market that offer such products, but some consumers prevent purchasing such products due to the scandals of mis-sold policies.

Overview of Abbey Life

Abbey Life has been in existence since December 1961, providing life and pension policies. It is composed of two small with-profit funds, namely Abbey Life policies and Hill Samuel Life policies. Since February 2000, the company has been closed to new traders. But it continuously accepted increases in its current policies as well as occupational pension schemes. They issue annuities for their pension policy holders at the date of retirement.

The Emergence of Mis-sold Policies

A certain period came when the entire market was disturbed due to several issues of mis-sold pensions and policies. Among the issues involved was a missold abbey life pension. Consumers and policy holders were upset since cases seemed to increase. Policy holders were bothered if they were holding mis-sold pensions or their policies were mis-sold to others. Mis-sold investments had really become a significant issue throughout the marketing world.

Compensation for Mis-sold Pensions, Policies, and Investments

Although issues of mis-sold pensions had increased over time, victims of such problem can claim for compensation. There are proper procedures in claiming compensation for a mis-sold pension or a life policy. This issue is linked to legal proceedings, thus, seeking for professional assistance is necessary. Mis-sold investments such as a missold abbey life pension could be complicated, and needs immediate, professional help.

Winning Compensation Claims

Compensation claims are certainly complex in nature. This is the main reason why an experienced company or firm is needed before a compensation claim is executed. There are various companies that provide corresponding service, helping clients to win the best compensation possible. For instance, a missold abbey life pension will be assessed and be given proper treatment. Other claims will be assessed and treated separately because there are some cases of technical problems in contracts or some regulatory issues. Basically, compensation claims will win because these investments were mis-sold.

Experienced Company

Before executing a compensation claim, an experienced, legal company is necessary throughout the case. A reliable company can provide specialized claims management services. It should illustrate expertise in areas surrounding life insurances and policies, pension products, and other forms of investments. Some organizations also offer risk-free services in claiming for compensation. Their specialists should also exemplify good character, including relevant licensures and certifications.

Free Assessment

Specialists in claims management can be trusted if they can also offer a free assessment or review of a certain case. It is evident that some firms would require initial or down payment before they could review a case. Other companies require application fees up front. With these considerations, it is always important to find a trustworthy representation who can help in winning a compensation claim due to a missold abbey life pension, life insurance, and other investments. https://www.mis-soldpension.com

 

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Compare Term Life Insurance Quotes – Identifying the Term and Coverage

Clients need to compare term life insurance in order to arrive at the best possible decision. There are several considerations to keep in mind prior to purchasing a term life insurance. Clients can check on quotes since different insurers provide such service. It is very important to compare insurance quotes between trustworthy agencies to prevent false advertisements and worthless products.

Online Quotes

The prevalence and accessibility of websites provide consumers or clients with the most convenient way to search for products and services. The same is true when it comes to insurance quotes. Consumers can compare term life insurance quotes online. There are online providers that offer not only quotes from a single insurer, but from several of them. With these resources, clients can easily compare quotes and arrive at the best deal possible. Comparing quotes between local and national agencies is essential throughout the process, considering the immeasurable number of brands and insurance companies around.

Term of Life Insurance

While consumers compare term life insurance quotes, it is essential to determine the term. There are different terms that insurance agencies offer. Clients are usually offered term life insurances with five-year up to 30-year terms. One of the most common policies purchased today is the 20-year term life insurance. This long-term rate could be very reasonable, especially for clients who purchase such policy term in their younger years.

Coverage of Life Insurance

Term life insurances are purchased mainly for protection in the event of death. The amount of coverage will be rewarded to the family of the insured, considering the burial costs. In almost all cases, the beneficiary named on the insurance policy will be the receiver of the benefits. It is, however, important to understand that the coverage of life insurances may vary depending on the insurance provider. Some agencies offer policies that are flexible, allowing the insured to use a portion of the policy value in times of terminal illnesses. Other agreements allow policy holders to convert a portion of the policy value into a cash advance. There are policies that allow renewal options. Hence, it is very crucial to identify the coverage of a life insurance prior to any purchase.

Identifying the Needed Coverage

Although insurance agencies offer coverage for term life insurances, it is still crucial to identify the coverage needed by the client. It is not wise to simply purchase a policy without identifying the coverage needed. Clients who wish to compare term life insurance quotes should determine the needed amount by simply computing their annual salary and multiplying it by ten. Another way to identify the needed coverage is to estimate the probable expenses that a policy holder wants its insurer to cover eventually.

Expert Advice

Throughout the search for insurance policies and quotes, it is essential to consult the expert advice of professionals. Licensed insurance agents can greatly help clients in choosing the most suited insurance plans for their respective needs. They will help in further explaining the term, coverage, and the amount of money involved in purchasing insurance policies. In fact, they can also help wishful policy holders to compare term life insurance quotes, navigating all the possible options.

https://www.terminsurancequotesuk.co.uk

 

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What Are the Advantages of Finding a Good Mortgage Advisor?

Are you wondering whether it is smart to hire a mortgage advisor or if it is just going to be a waste of money? There are people who choose not to because they believe that they can do the job by themselves. But whether you like it or not, spending your money to hire one can also be an excellent choice, especially if it is your first time to engage in the kind of transactions that they are handling. So, if you want things to be clearer for you, here are the things that make it a great idea to hire mortgage advisors.

Expertise

A mortgage advisor has the expertise that you will need to be able to get through the entire process of mortgage selection easily. Most of the ones that you will encounter are the people who have already been in the business for a long time. Therefore, they can make you feel confident that they can give you the results that you are expecting with the years that they have spent working in the industry.

Accuracy

Accuracy is something that you can achieve with the help of a mortgage advisor. Again, they have the experience that you can use to land into the best choices. They know which deals are best for you and they know the ones that you must avoid. They have already explored the market long enough to be able to come up with the offers that can match your needs. Indeed, with the help of one, you would no longer have to worry about finding a deal that will just waste your money in the future.

Networks

Having a mortgage advisor by your side, you can never worry about having limited choices. Spending several years in the business, you may expect them to have all of the networks or connections that you will need to land into the best decisions. You would no longer have to think about missing to compare the best offers in the market. They already have these deals on their lists and they have already included them as they compare the deals that are left for you to entertain.

Hassle-Free Transactions

Last but definitely not the least, the major point of hiring one is to have someone who can help you get through the process easily. And with them, you can experience hassle-free transactions. They have all the knowledge that you need to get through every step without worrying about anything. They can give you the best and the most appropriate pieces of advice whenever you are in need of such.

It is very important for you to make the right decisions when choosing mortgage deals. Just think about the number of years that you will be spending to commit to spending your money on such. Indeed, it is a choice that can affect your finances for a long time. But by choosing a good mortgage advisor and by listening to what he or she is going to tell you, you will definitely find your way to the best offers for you.

https://www.90mortgagesuk.co.uk

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4 Things You Need To Know With Guaranteed Whole Of Life Insurance

You may have acquired a guaranteed whole life insurance. But are you really sure that you have learned everything that you need to know about it before you even got it? Are you certain that you would be able to make the most out of what you got? But more importantly, are you sure that you got the right type of insurance for you. If you are having doubts right now, there is a way for you to figure out whether you are getting the right one or not. To start off, here are four of the things that you have to know when it comes to obtaining guaranteed whole life of insurance.

You pay less through time.

With a life insurance, you will be paying less as time goes by. When you begin paying for your premium insurance, you will be asked to pay huge amounts, depending on the kind of life insurance that you got. However, as you grow old and as you continue paying for it, the amount you will be paying will become lesser.

Dividends are not guaranteed.

If you are aiming to get dividends out of the life insurance that you got, you can never be too sure whether you will get it or not. On the other hand, there is still something that you can do about it. Before you even start paying for the guaranteed whole life of insurance that you are getting and while you are stage of searching for a company, you should already begin talking to your company about it. Ask them whether it is possible for you to acquire dividends or not and you may also ask them on how you can get such.

Consulting your company before getting one is highly important.

In continuation to the previous point, it is very important that you consult with your company if there are things that you cannot understand regarding your guaranteed whole life of insurance. You would not want to waste your money in the long run and it is best to be sure of the things that you need to acquire before you start investing your money in it.

It is important to know how much you need.

Finally, getting a guaranteed whole life of insurance, it is highly important that you find out how much you will need. However, it is also smart to consider how much you will be able to commit to pay every year or every month. Otherwise, you will just feel the burden of having to look for a certain amount of money every month just to be able to pay for your insurance.

So, do you think you are now prepared to acquire your life insurance? Or are there things that you need to clarify? Always remember that if you have doubts in your mind, it is best to consult with the company whom you are planning to give your trust to. Let them give you the help you need and allow them to walk you through the entire process.

https://wholeoflifequotes.co.uk

 

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What Went Wrong With The Missold Santander Pension?

Today, a lot of discussion is continuously surfacing with the agenda to find out what actually went wrong with the missold Santander pension. Just as when everybody thought that it’s never going to happen, Santander UK was fined by the Financial Conduct Authority or FCA with an enormous amount of 12.4 million pounds. In todays finance market, Santander paid one of the largest penalties that any retail banking companies have in history due missold pension.

The said fine was truly a major setback to the company. Even though they have provided good quality products and services as well as highly regarded customer service, some things just went bad for them. Now, what did actually went wrong and caused them to be fined the said amount?

What Led to Missold Santander Pension

According to sources, the main reason why Santander UK was fined was due to reason that they provided their customers with some truly unsuitable investment advices. Since that happened and reports have come out about this occurrence, the bank’s authorities have issued an apology to their customers. In addition, Santander UK also mentioned that they’ll be contacting any of their customers who may be eligible for some compensation in the future.

Tracey McDermott, who works for the Financial Conduct Authority as the Director of Enforcement and Financial Crime, stated that the company has made some bad mistakes concerning their customers. In addition, the missold Santander pension didn’t really manage their customer’s money well. In the end, the bank just didn’t live up or meet what their customers were expecting from them.

McDermott also noted that most people today are losing their grip in trusting financial services in general. According to her, in order for financial institutions like Santander UK to reestablish this trust, these companies should be able to give their customers proper and necessary advice by those who understands what is needed by them. Now, why don’t you look at some key points where the company actually made some crucial mistakes?

Where Missold Santander Pension Occurred

  • According to sources, the company’s advisers didn’t take to consider what risks their customers might face in making that investment.
  • The company wasn’t able to ensure that the people received a clear advice when making their investments.
  • Santander UK didn’t conduct any type of check to ensure that all of the investment made were suitable.
  • The company didn’t make sure that its new advisers receive proper training way before they provided financial or investment advice.
  • The company wasn’t able to monitor financial activities well that resulted poor advices given to its clients.
  • The FCA or Financial Conduct Authority also stated that their response was often too positive and misleading.

Those are the reasons why the missold pension happened. According to sources, the company is now set to conduct and contact all of the company’s affected customers to ensure that anyone who suffered from any sale that’s deemed below the company’s standard is compensated. Hope that this post somehow helped you understand what truly went wrong with the company’s financial activities and the missold Santander pension.

https://www.mis-soldpension.com

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What Is The Right Attitude In Selecting The Ideal Term Life Insurance Price?

Even at this age where information is easily available online, there are still people who do not know what to look for in a term life insurance price. Nowadays, you can access the information online but you also need to look the prices that suit your needs. In this article, you will be presented with different insurance policies and their prices according to term.

Basics of Term Life Insurance Price

The first aspect that affects the insurance price is the term. If it has no cash value, it is called pure insurance. You will purchase a policy to over a certain number of years starting from 10 years to 30 years. The insurance rate differs according to the number of years you choose, the overall lifestyle, and the coverage amount. The following aspects also affect your insurance price as well:

  • Number of years (Terms). This aspect highly affects the price or rates of insurance. Hence, you need to evaluate your situation and consider each option accordingly. For instance, if you are newly married without any child, you should look for a policy that is long-term. They can decide later to have children in line with the years of their insurance policy.
  • Lifestyle and health-related aspects. These demographics include your height, age, medical history, weight, smoker, gender, hobbies, and occupation. Normally, the insurance companies necessitate a medical exam but now that there is an increasing competition, a few companies go for medical exams and even waive it.
  • Amount of coverage. This depends on your capability. Usually, the things taken into account are the cost of living and mortgage value. Higher coverage means higher insurance price as well.

It is fairly important to consider an insurance plan that guarantee the financial stability of your family following your death. If you understand and you full know the details of the coverage you chose, you can try to acquire quotes online for the policy you want. It is also essential to know that the prices change several times in a month. The best insurance companies observe the trend of the term life insurance price to know their competition.

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How Much PPI Reclaim Can You Get?

If you feel that you have been sold a Payment Protection Insurance (PPI) without your knowledge and consent, then you can file for a PPI reclaim. You can recoup the premiums you paid from the bank or financial institution that sold you the PPI when you availed of a loan, mortgage or credit card. The PPI is an insurance product that is supposed to protect you from the cost of your loan repayments should you be unable to work and earn to meet your obligation. Lenders however, have of late been accused of mis-selling the PPI leading hundreds of thousands of policyholders to claim for a refund. The question now is, how much can be reclaimed?

Is It Easy to Lodge a Reclaim?

The effort it takes for a PPI reclaim depends upon how you “purchased” it in the first place. It is a common practice nowadays to apply for loans online. You may find it a bit difficult to work out your reclaim if you availed of your PPI online. Lenders argue that it is your responsibility to read and understand the terms and conditions of the loan before you agree. If however, the loan provider has pre-ticked the PPI option box, you may have bought this insurance product without your knowledge. This means, if you bought your PPI prior to the 2007 ruling that demands all lenders to stop using this method, you may have an easy time reclaiming your PPI funds.

How Long Can a PPI Reclaim Take?

There are a huge number of people filing for a PPI reclaim. While there is a massive information campaign regarding PPI claims, most policyholders still have one important question in mind: How long will it take? There is no definite answer to this question because there are certain factors that could affect how long the reclaim could take. The lender legally has up to 12 weeks to deal with each claimant.

  • If the lender will immediately settle the claim, the process should be completed within this time frame.
  • If your case will be elevated to the Financial Ombudsman Service (FOS), it may take much longer.
  • With a huge number of claimants, the process will certainly take some time to complete.

Notwithstanding the length of time it takes to make a PPI reclaim, it is important to note that the process is a means for you to recoup money for a product you were misled to purchase. The length of time it takes to go through the process should not be a deterrent for you to file your PPI claim. Lenders are responsible for the PPI mess and it is your right to take action against them.

How Much PPI Reclaim Can You Get?

A lot of lenders have already been penalized for misleading consumers into purchasing a PPI. It is therefore easier to file for a reclaim and get back your funds. How much can you reclaim?

  • The amount you paid for your PPI policy.
  • Eight percent interest on the amount paid.

An individual can file a claim for all the loans and financial agreements which included a PPI. The term of your loan agreement and its value will affect how much you will exactly get for your PPI reclaim.

 

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