New passport fees announced – act now to save 7.64%

The cost of a passport is to rise.

The cost of a 10 year adult passport will rise from £72.00 to £77.50 – a rise of £5.50 or 7.64% of the current price. This increase in price is due to come into effect on 3rd September.

Waiver of Contribution

Waiver of contribution is one of those options usually available under a life insurance or critical illness plan which many people may not be aware of.

It may be mentioned by the financial adviser when the sale is being made but often it is not included for one reason or another.

Critical Illness Cover v Income Protection

In this article we will compare income protection insurance to critical illness cover and consider how they can be used together to protect your financial position.

Many people ask whether it is more appropriate when considering insuring against ill health to take out income protection insurance or critical illness cover.

Income Protection Insurance (PHI) – an introduction

Many people have heard of income protection – yet many remain unsure exactly what it is and how it can be used to protect their family and themselves.

As the name suggests, Income Protection Insurance, previously known as Permanent Health Insurance (PHI), is a type of insurance which is designed to replace lost income in the event of long term illness or accident.

Critical Illness Cover – an introduction

As the name suggests, critical illness cover pays out a tax-free lump sum in the event of diagnosis of a critical illness. In order to claim, the life assured needs to be diagnosed with a critical illness listed amongst those covered by the life insurance company.

Most providers today provide cover for a comprehensive range of critical illnesses. The Association of British Insurers has published standard definitions for critical illness policies to which most life insurance companies adhere.

Term Assurance – an introduction

Term assurance is the most basic form of life assurance. As the name suggests, the policy runs for a fixed term.

There is no investment element to a term assurance policy – it is pure insurance – unless you make a death claim then the policy ends at the end of the term and you get nothing back.