Life Insurance News Articles

The Post Office over 50s life insurance policy is now available with instant cover over the counter at all UK Post Office branches without needing to wait for an application to be processed.

The Over 50s Life Cover plan is guaranteed for all UK residents aged between 50 and 80 with no medical questions or checks required. Customers are able to choose how much cover they want with premiums starting from as little as £7 a month and can be an affordable way to provide your family with a cash sum to help with funeral expenses.

Duncan Caesar-Gordon, Post Office head of protection, commented: "In a time of such uncertainty people need peace of mind more than Full Story

The Post Office has scooped the 'Best Life Insurance Provider' award at the Your Money Direct Awards for 2008. The 'Best Online Life Insurance Provider' award went to Liverpool Victoria.

The awards, which are run by Your Money Magazine annually, aim to recognise and reward excellence in both online and direct financial services provision.

The Post Office launched it's term and mortgage life cover policies together with an over 50's plan in 2007 with premiums starting from just £5 per month.

Commenting at the time of the launch, Post Office director of insurance Full Story

A recent survey commissioned by Legal and General life insurance has revealed that Brit's could be neglecting to protect themselves financially because they over-estimate the cost of life cover.

Legal & General is concerned that people might avoid taking out protection because consider it is too expensive. The survey showed that 65% of thosed polled over-estimated the cost of a £150,000 life insurance policy with 35% over-estimating the cost of including critical illness cover as an option on the same plan.

According to L&G, £150,000 of level term assurance over 25 years for a healthy, non-smoking man aged 25 would cost just £8* per month. Of Full Story

A survey by Norwich Union has revealed that apathy is leaving 20 million UK adults at financial risk because they don't have any form of life or income-related protection.

Figures from Norwich Union Life Insurance show that of those without any life cover...

• more than 37% say this is because it's still on their 'to do' list or that they haven't thought about it
• one in seven (15%) say they have made other provisions
• one in ten (10%) haven't bothered because they have no dependents and feel no need for a life insurance policy
• 9% say they don't have it because they don't have a mortgage to insure
• 3% of people say they haven't taken out a policy because they Full Story

Norwich Union has announced a series of rate reductions on its Mortgage Life Insurance (MLI) and Term Assurance policies.

The reprice is designed to make the cost of Norwich Union life insurance more affordable in the light of the recent credit crunch and ease the financial burden for the average home buyer. The reductions are focused on providing affordable cover for sums assured of £175,000 and above as the average house price now stands at £183,959 according to the Nationwide Building Society.

Customers buying cover with critical illness insurance included will also benefit as decreasing and level term insurance with CI cover has been cut by an average of 3% and 2% respectively.

In addition, the reprice will also include mortgage life insurance and Full Story

The Post Office today announced the launch of a new product into the life insurance market, and is offering a £100 cash back bonus to anyone taking out a policy. A minimum premium of £10 per month is required to qualify for the £100 cash back offer which is redeemable after the 12th monthly premium is paid.

Post Office Life Insurance has the flexibility for customers to choose Level Term cover which pays out a fixed lump sum to the deceased's dependents in the event of their death or Decreasing Term which is suitable for those with a repayment mortgage as the sum assured decreases in line with the outstanding mortgage.

Both products offer up to £500,000 worth of Full Story