The Hidden Commission Scandal in Car Finance: A Cautionary Tale for Life Insurance Brokers
In early 2024, the Financial Conduct Authority (FCA) exposed widespread concerns about undisclosed commissions in UK car finance agreements, particularly discretionary commission arrangements (DCAs) where brokers were incentivised to push customers towards higher-cost deals for bigger kickbacks. This scandal resulted in consumer redress schemes and regulatory crackdowns across the motor finance sector. Parallels with Life […]
Does Life Insurance Cover Suicide
Does life insurance pay out for a suicidal death? Yes, life insurance can pay out for suicide in the UK, but some specific conditions and timeframes apply. Understanding these terms is important when choosing or reviewing a life insurance policy. What is the suicide clause in life insurance? Most UK life insurance providers include a […]
A Guide to Index Linking
What Is Index Linking? Index linking in life insurance (also known as inflation-linked life insurance) is a feature that helps your policy payout increase over time to keep up with inflation. This ensures that the money paid to your loved ones after your death doesn’t lose value due to rising living costs. How Is It […]
Benefits of Whole of Life Insurance vs Term Insurance: Which Is Best for You?
Understanding the difference between whole of life insurance and term life insurance can seem like a daunting task. Pros and Cons of term vs whole life insurance Both types of life insurance offer financial protection, but they can serve different needs. Here’s a clear comparison to help you decide which one is best for you. […]
Is Over 50s Life Insurance Worth It?
Over 50s life cover works slightly differently from regular life insurance. The main criteria are that you must be aged between 50 and 85 to qualify. Cover is available up to the amount of £40,0000; this is to cover funeral costs and to provide a lump sum to your family. Many over-50s life insurance policies […]
How Much Is Private Medical Insurance?
[vc_row][vc_column][vc_column_text]Private Medical Insurance (PMI) is designed to provide faster access to medical investigations, specialist consultations, and treatments for non-emergency conditions that may face long waiting times on the NHS. While not a replacement for NHS services, PMI is invaluable for those seeking quicker, more efficient care, especially for conditions that may not be deemed urgent […]
Do I Need Business Insurance?
[vc_row][vc_column][vc_column_text]As a business owner or manager, protecting your company against unexpected risks is essential. While general business insurance covers property and liability, certain types of insurance are specifically designed to secure the financial stability and continuity of your business. We’ll explore the types of business insurance: Keyperson Insurance, Relevant Life Cover, Shareholder Protection, and Group […]
Do I Need Income Protection Insurance?
[vc_row][vc_column][vc_column_text]Income protection insurance is a policy designed to replace your income if you’re unable to work due to illness or injury. This could cover anything from minor issues like the flu to serious conditions like cancer. This type of insurance is different from critical illness cover, which pays a lump sum upon diagnosis of specific […]
What Cancers are Covered By Critical Illness Insurance?
[vc_row][vc_column][vc_column_text]Life can be unpredictable, and being diagnosed with a serious illness is something no one expects. While health insurance covers medical costs, critical illness cover provides a lump sum when diagnosed with a serious illness. Unlike life insurance, which only pays out upon death, critical illness cover will payout while you’re still alive, helping you […]
Do I Need Life Insurance?
Life insurance, also known as life assurance, is a policy where, in exchange for an agreed monthly payment, the insurer provides a lump sum if you pass away or are diagnosed with 12 months or less to live. If you’re the primary breadwinner or share financial responsibilities, a life insurance policy can help your family […]