Steve Allen Insurance News
Ulcerative Colitis Warning!
Thursday, 15 December 2011 15:13

Manchester United Premiership footballer Darren Fletcher has just been diagnosed at the age of 27 with Ulcerative Colitis which has led to him taking an extended break from his footballing career. This demonstrates that no matter how fit you are or how young you are illness can strike at anytime to anyone.

Do you have the right cover?

Ulcerative Colitis, a disease of the colon, is most common in people between the ages of 15 and 30 but can strike anyone at any time. The disease in many cases can be totally debilitating yet is not covered on the majority of critical illness contracts. Check your policy to see whether you are covered. Recently taken out policies with Friends Life, Bupa or PruProtect offer cover for this condition and Steve Allen Insurance has access to these polices.
 
Millions of Britons risk leaving dependents in financial difficulty
Monday, 12 December 2011 23:17

Failing to update levels of life cover at various stages of life means millions of Britons risk leaving dependents in financial difficulty.

More than five million people are estimated to be playing a dangerous game with their loved ones' futures.

Almost two thirds (60%) of those with life insurance admit they have not updated their level of cover following a significant change in their personal circumstances.

Life changing events such as getting married, having children, or buying a home with a bigger mortgage can all have an impact on financial commitments.

However, worryingly, millions of people fail to take this into account and do not review their level of life insurance cover accordingly.

The most common change in personal circumstances people are likely to have experienced since purchasing life insurance is changing jobs.

Having children and getting married were the second and third most common change respectively.

Many people invest in life insurance when they buy their first home as they want peace of mind that they're covered should anything happen and they're unable to pay the mortgage.

However, clearly people are overlooking the need to update their level of cover once their personal circumstances have changed.

Life insurance provides financial cover should the unthinkable happen and enables people to be secure in the knowledge that their dependants would receive sufficient funds if they were to die, which would help them to protect their standard of living.

Protecting yourself and your family financially against any unforeseen circumstances should always be at the top of your list of priorities.

Steve Allen will help you scour the market for the best life insurance deals around.
 
Three reasons why Income Protection is as important as redundancy cover
Wednesday, 14 December 2011 10:50

Despite worryingly high unemployment rates - the UK unemployment rate stands at 8.3%1 - the potential impact of illness of injury is greater.

Income Protection can protect your clients against the financial impact of long-term illness or injury; here are three reasons why it's as important as redundancy cover.

1. Long-term illness or injury can have a bigger impact on your clients' finances than redundancy

  • 50% of workers who become unemployed can expect to re-enter the workplace within 12 months, compared with only 26% of those leaving work due to illness or injury.
  • Around a third of those who become unable to work due to illness fall into poverty within two years.

2. Long-term illness doesn't just affect the individual

  • 15% of people leave work within a year of their spouse leaving work for health reasons.
  • 28% of people with spouses who leave work for health reasons reduce their working hours in the first year and 37% have reduced them within 2 years.

3. Statistically, your client's more likely to need Income Protection

The chances of your clients suffering a long-term illness or injury (and needing Income Protection cover) are higher than their chances of being made redundant:

  • 11% of employees have been off work for 6 months or more due to illness or injury.
  • 1 in 5 people run the risk of developing a longstanding illness before they reach retirement age.
Call Steve Allen now to discuss your options 0161 766 1927

1129.07 million people were in work in July to September 2011 according to the labour force survey. Source: www.hrmguide.co.uk/jobmarket/unemployment.htm
 
UK unemployment increases to 2.62m
Friday, 25 November 2011 18:54

UK unemployment rose by 129,000 in the three months to September to 2.62 million, as youth unemployment rose above a million.

Hugh Pym Chief economics correspondent, BBC News

The news from the latest labour market figures is almost universally gloomy. It's true that the rise in the claimant count (those signing on for Jobseeker's Allowance) of 5,300 in October was less than expected and well within margins for error in a total of 1.6 million.

There were slightly fewer redundancies in the three months to September than in the previous three months. But record youth unemployment and the highest overall unemployment level since 1994 speak for themselves.

The number of workforce jobs is the lowest since 2004 despite the increase in population. Insufficient jobs are being created because of low growth and that seems unlikely to change next year.
 
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FSA – Steve Allen Insurance is a trading name of Carrington and Company which is authorised and regulated by the Financial Services Authority
* These products (or services) are regulated by The Financial Services Authority, but advice will be given by a third party