It's a sad fact that whilst most of us are quite happy to insure our car, our house and our travel arrangements to their full value, few of us take quite as much care over our health and loved ones. This guide will assist you in considering your own situation.
Life and Protection Insurance
This section provides helpful information on the different types of protection product available.
The Financial Conduct Authority does not regulate Trusts.
The name says it all. It's term assurance, as you only get a payout within the set 'term' e.g. 18 years. Its level, because the payout you get is fixed from the start of the term until the end. Level term assurance thus guarantees a known lump sum payout upon death within a fixed time e.g. £150,000 if you die within the next 18 years.
Although Critical Illness cover is sold by life assurers, there is a big difference when compared with life insurance - you don't have to die to benefit from the Critical Illness insurance policy. This type of cover is designed to pay out a lump sum in the event of you suffering from certain types of critical illness or if you have to undergo certain types of surgery as specified in the policy terms and conditions.
Payment Protection Insurance and Short Term Income Protection Insurance can provide a monthly income to help cover your regular outgoings if you can’t work due to an accident, illness or injury.
UK News
The Bank rate was cut in August but many analysts do not expect any further reductions this year.
The UK government is calling this the largest commercial deal of its kind and expects it to create more than 7,600 "high-quality jobs".
Borrowing costs are not guaranteed to come down much more than they already have, even after this week's rate cut.
The Federal Reserve makes its first cut to interest rates since 2024, and signals more to come.
While UK inflation held steady in August, the pace of price rises for food surged, increasing cost of living pressures.