It could be you..

Unfortunately,it could be you.

We all dream of winning the lottery, even with odds of 14 million to 1 However, when it comes to the lottery of life we all think critical illness will never happen to us.Sadly, the chances of a critical illness striking close to home are higher than you may think. Look at the statistics from one particular protection provider below. 46 46% of claims were aged 40 or under. 26 The youngest person to claim for cancer was 26. 27 The youngest person who claimed for a heart attack was 27. We’re all natural optimists, but even just a little bit of cover would reduce the need to leave it to chance. Source:1 Bright Grey claims statistics, 1 July - 31 December 2011 WHAT NEXT? Talk to Zebra Money Centre We'll help you identify your individual protection needs and guide you through the various types of cover available to make sure you get the right cover at the right price. Call us today for your FREE review 01582 45 00 00

Insurance Premiums are going up!

WHY THINK ABOUT PROTECTION?

 

Now is the perfect time to review your protection needs as European Law will mean insurance companies can no longer charge separate insurance rates for men and women from 21 December 2012. This includes car insurance, life insurance, income protection and annuities. In addition there are changes to how Financial Services companies pay tax on life insurance products.

 

What does that mean for me?

The combination of both these changes will mean life insurance and critical illness cover will become more expensive than they are today from 21 December 2012, particularly for women who historically paid less for life and critical illness insurance. The same level of cover today is likely to cost more in the future, in some cases premiums will increase by as much as 15%.* 

* Her Majesty’s Treasury Consultation Document December 2011 (Page 18)

 

This example illustrates the potential impact of a 10% premium increase following the introduction of the changes.

£100,000 life or earlier critical illness policy, based on standard rates, for a female non-smoker aged 35 for a term of 25 years currently cost £33.80 per month as at 01/09/2012.

 A premium increase of 10% would see the cost rise to £37.18 each month. 

A rise of £3.38 each month, on its own may not seem like a dramatic increase, however, over the term of the policy this equates to an additional £1,014.  

The full impact on premiums following these changes will not be known until sometime in 2013.

 

Source: Zurich Assurance Ltd 09/2012

This season's must have

This season’s must have

In December 2012 new European legislation will mean that women will pay more for insurance - such as car insurance and more importantly life cover. 

A message for her!

For life cover, this will result in a premium increase of up to 15%^*.  That makes it this season’s must have for women. 

Not really fair considering women are better drivers and live longer!!   

Whether you are single or married, have a career or have made home and family your life's work – you need to protect yourself, your family and your real worth.   

A message for him!

It’s not a nice thought but if your partner/wife died suddenly could you cope financially and maintain your family’s current lifestyle? The latest ‘value of a parent’ research shows it could cost £30,000 a year to pay someone to replace a Mum’s domestic work. 

Life cover premiums for women will shortly increase by up to 15%^*.  That makes it this season’s must have for women. 

Life cover can help provide peace of mind and can be done for less than you might think. A £200,000 life cover policy could cost as little as £11.71 a month¹.  At this price you can still have all the other ‘must haves’ of the season.…whatever they might be.

We are in the process of writing to all our clients advising them of the impending changes and recommending that they seriously consider reviewing their current protection situation.  

If you are considering reviewing your own protection and/or looking to take out life cover then I would urge you to do it now.  If you delay you could end up paying more in the future.  

* HMRC Consultation Document, Dec 2011: EU Gender Directive. 1 Female, age 35 next birthday, non smoker, no medical issues, £200,000 lump sum life cover over 25 years. Correct as at 2/4/12.  Please contact us and ask for a personalised illustration.

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