Life Insurance
Life Insurance 101
25 Feb 2009 at 1:02pm
Dave Ramsey on life insurance
14 Mar 2008 at 8:32am
Thai Life Insurance- Silence of love
1 Aug 2011 at 1:21am
Next page: Term Life Insurance
Life Insurance News
Agreement Reached With Metropolitan Life Insurance Co. - Insurance News Net (...
28 Jan 2012 at 3:36am Insurance News Net (press release) Attorney General George Jepsen and Consumer Protection Commissioner William Rubenstein have reached an agreement with Metropolitan Life Insurance Co. to provide additional protections to the current and former customers whose personal information was ... Hunton & Williams | Connecticut AG Announces Agreement with MetLife over 2009 ...Linex Legal (press release) (registration) all 2 news articles » |
Read more...
Vantis Life Completes Third Consecutive Year of Double Digit Sales Growth - P...
28 Jan 2012 at 1:28am PR Web (press release) The insurance company rating agency, AM Best, in a recent rating report noted "Vantis Life is the only bank distribution-focused life insurer that offers a full selection of easy-to-sell simplified issue and fully underwritten products from a web-based ... |
Read more...
Buying 16% cheaper than renting
27 Jan 2012 at 11:00pm Filed under: House Prices
Gareth Fuller/PA Wire
The typical monthly cost of buying a three bedroom house in the UK was £600 in December 2011 £116 (or 16 percent) lower than the average monthly rent of £716 paid on the same property type.
The Halifax Buying vs. Renting Review figures show a significant turnaround compared with three years ago when the average cost of buying was 29 percent higher than the average rent paid. The monthly costs associated with buying accounted for 29 percent of average UK disposable income in 2011, compared to a staggering 47 percent in 2008.
Home buying costs have fallen by more than a quarter (£328) since 2008, driven by a decline in the average monthly mortgage payment of nearly one-third (£242) due to the marked fall in mortgage rates and house prices.
The mortgage rate for a new borrower has been reduced to an average of 3.63 percent in 2011 from 5.75 percent in 2008, while the average house price has dropped by 11 percent over the same period.
Meanwhile, the average cost of renting has risen by 9 percent (£62) since 2009. Higher demand for rental property, driven partly by the difficulties for potential buyers entering the housing market, has pushed up rents.
Over the past year, buying costs have dropped by 5 percent whilst the typical cost of renting has risen by 5 percent, continuing the trends seen in 2010.
The regional picture Buying a home was more cost-effective than renting in eleven out of the twelve UK regions in December 2011, in contrast to 2008 when buying was more costly than renting in all regions. Despite having higher absolute costs, buying is currently most affordable relative to renting in London where average monthly rents reach £1212, compared with monthly buying costs of £1,089. At the other end of the spectrum, Wales is the only region where renting remains cheaper than buying.
Home buyers: the inside track The number of buyers entering the market has continued to decline despite the improvement in the affordability of buying compared with renting since 2008. Halifax estimates that there were around 510,000 home purchases with a mortgage in 2011: the lowest annual total since 1974 and 6 percent lower than in 2010.
Much of this decline can be attributed to the increase in the size of the deposit required, with the average amount more than doubling over the past decade.
Martin Ellis, housing economist at Halifax, commented: "The average mortgage payment has fallen dramatically over recent years as a result of falling house prices and mortgage rates. At the same time, rents have risen due to strong demand for rented accommodation.
"Nonetheless, despite the improvement in the relative affordability of buying a home, the number of purchasers has continued to fall due to the ongoing challenges in raising a deposit and the considerable uncertainty over the prospects for the UK economy, which have severely constrained housing demand."
Permalink | Email this | Linking Blogs | Comments
Read more...
Overpay your mortgage - don't save
27 Jan 2012 at 9:56pm Filed under: Savings & ISAs
Twice as many mortgage holders save regularly rather than pay off more of their mortgages, according to new research from online bank First Direct.A survey of 1022 UK mortgage holders found that 42% are saving regularly - double the proportion that regularly overpay on their mortgage (21%). That is despite overpaying a mortgage being better value than saving.
First Direct reckons this could be because of a widespread lack of awareness among mortgage holders on the current details of their loan.
Almost a third (31%) don't know the interest rate on their mortgage, 43% don't know the total cost of their mortgage including interest, and a quarter do not know whether or not they are able to overpay on their mortgage.
The top things mortgage holders are unaware of The total cost of their mortgage including interest (43%) The over payment limit on their mortgage (42%) The interest rate on their mortgage (31%) Whether or not they are allowed to overpay on their mortgage (25%) The amount outstanding on their mortgage (15%)
Another possible explanation is that people value the flexibility of a savings account and are reluctant to pay down mortgage debt in uncertain times as they may need access to their money in unforeseen circumstances.
And you'll love this: While twice as many mortgage holders pay into a savings account as overpay their borrowing, when asked hypothetically how they would use any spare cash, the most popular answer was overpaying their mortgage (48%), outstripping paying into savings (42%) and paying off credit card debt (33%).
Men know more Men are more aware of every aspect of their mortgage except the amount of overpayment allowed on their mortgage for which they are equal. The biggest knowledge gap between the genders is on the total cost of the mortgage - 63% of men said they know, compared with just 52% of women.
Those in the 25-34 age bracket are the most likely to see the value of saving regularly as 86% of them either already do this or are considering it, compared with 62% of the over 55s. The younger age group is also the most likely to occasionally pay into savings (83%) and the older age group the least (66%).
The 25-34 age group is the second most likely to overpay on their mortgage (22% compared with 24% of the 45-54 age group). They are also the most likely to be considering overpaying (51%) compared with 35% of the 35-44s, 33% of the 45-54s and 24% of the 55+ age group.
Offsetting First Direct claims that offsetting savings against mortgage debt would mean the average mortgage holder could reduce their mortgage payments by £28.25 per month while retaining access to their savings.
Permalink | Email this | Linking Blogs | Comments
Read more...
Medical conditions double the cost of travel cover
27 Jan 2012 at 9:00pm Filed under: Holidays
As many as one in five Britons have pre-existing medical conditions that mean they often pay twice as much for travel insurance as those able to take out standard policies.And as the size of the premium depends on the severity of the condition, travellers with major health problems can pay even more. Here, we investigate why that is and what you can do to keep costs down.
Why do people with pre-existing medical conditions pay so much more for cover?
Medical claims and emergencies abroad are one of the biggest costs to insurance companies, which is why people who have pre-existing conditions that increase the chances of them making a claim pay more for their cover.
As many companies avoid offering travel insurance to people with pre-existing medical conditions, competition is also much less fierce, meaning that those who do offer cover can charge higher premiums.
People with health problems are not the only ones who pay more for travel insurance, though.
Older holiday makers are also often quoted much higher premiums - again because the number of insurers offering cover for travellers over the age of 65 is relatively small.
What happens if an insurer is not informed about a pre-existing condition?
Given the cost of travel cover, travellers with medical conditions may be tempted to withhold certain information in order to keep costs down.
However, failure to declare a medical condition to an insurer could result in any claims being rejected.
No matter how minor your condition, it is therefore always worth declaring it just to be sure that you are fully protected.
Otherwise, you could be forced to cover any medical costs yourself, which could leave you with a bill that far exceeds the cost of your trip.
It is not unusual, for example, for holiday makers unlucky enough to end up in hospital in the US to present insurers with claims amounting to tens of thousands of pounds.
Is there any way to reduce the cost without risking rejected claims?
There are ways to minimise the cost of travel insurance - even if you have a medical condition.
For example, it is often possible to slash the premium by agreeing to pay a higher excess towards any related medical claims.
Travel insurance experts also recommend opting for single trip cover, rather than an annual policy and using the internet to shop around for the best price.
Restricting your travels to places where medical care does not cost an arm and a leg can also help to keep the lid on your premiums. In this instance, the list of countries to avoid includes the US, Canada, Spain and Cyprus.
Permalink | Email this | Linking Blogs | Comments
Read more...
Teach kids finance not RE and music
27 Jan 2012 at 8:47pm Filed under: News
Teachers think kids are being taught nonsense subjects, such as "citizenship", music and religious education, when they should be taught to manage money.Some 94% of teachers believe that teaching of financial education should be more comprehensive because it is an essential life skill. But only 27% of students say school taught them basic budgeting.
What teachers think Research from the Chartered Insurance Institute (CII) found that only 67% of schools taught kids financial education. Of those, a third of the teachers (33%) don't believe that it is taught to a high enough standard, and two thirds (58%) don't believe enough financial education is being taught.
The research from the CII comes hot on the heels of the House of Commons' report on financial education highlighting a petition of 105,000 signatories calling for financial education to be made a compulsory part of the school curriculum.
What kids think The CII asked kids too. Its research among 16-18 year olds shows that while 95% have a debit card, one in four don't know what the term 'debit' means. More worryingly, one in five have a store card while one in three don't understand the term 'credit' and 71% don't know the meaning of 'APR'.
With personal finance currently only a non-compulsory component of the Personal, Social, Health and Economic curriculum, the survey sought to understand which other subjects teachers felt were least valuable for students. Teachers cited citizenship, religious education and music. That must have been music to most kids' ears.
Time and expertise Almost half (45%) of the teachers surveyed believed that financial education is lacking in their school due to too little time and resource to teach the subject, too much other material to cover (38%), and a lack of teacher-specific resources in schools to help them teach the subject (20%.)
Some 15% of teachers also admitted that they lack expertise in the area of financial education, demonstrating a need for external support and resource from experts. A third of teachers (36%) overall said that they would benefit from external expert practitioners to support them teaching financial literacy.
David Thomson, director of policy & public affairs at the CII said: "Our research demonstrates the relatively low profile that financial education has on the curriculum, despite teachers realising its inherent importance as a life skill and one that will arm young people with the necessary skills to navigate these challenging economic times.
"While some teachers have confidence in delivering personal finance education, this is by no means universal. We need to ensure that all teachers who are delivering this subject feel they have the necessary support through external expertise and initiatives such as the CII's Discover Fortunes game, which could assist with not only their pupils' knowledge of financial education but their own teaching methods."
Help is needed The CII has got it spot on. My kids have to manage their own money and it is a challenge for them. They get no help at school yet spend hours a week forced to sit through RE lessons they hate and music lessons that are either irrelevant to those not interested or too basic for those who already play an instrument.
Kids need to be taught to budget for themselves and about borrowing, rent, mortgages and overdrafts. They need to understand that buy now, pay later deals may add up to paying more. They need to understand the need to for insurance and for saving for a rainy day.
And if the teachers I have met are anything to go by, some of them could definitely do with some professional help on that front too.
Permalink | Email this | Linking Blogs | Comments
Read more...
Housing market 'to remain subdued'
27 Jan 2012 at 8:17pm Filed under: House Prices
A "generational divide" in the property market is likely to cause further subdued sales this year, with young people unable to buy and older home owners unwilling to sell, a study has found.One in 10 Britons would consider moving home or trying to get on the housing ladder in the next six months, the HSBC Moving Home Survey said.
The study found that older people in households which planned to stay put were more likely to be content with their current property, whereas younger people were finding themselves unable to move because of concerns relating to the weak economy.
Of those who were not looking to move, 61% of people aged 55 and over said it was because they were happy in their home compared with just 28% of those aged 34 and under.
Younger people who were not planning to buy or sell a property tended to say this was because they did not have a big enough deposit, they were concerned about not getting a mortgage or they were worried about job prospects.
Older people who wanted to move tended to be doing so to downsize and release equity.
Peter Dockar, HSBC head of mortgages, said: "Our research suggests that the current economic climate is of particular concern to younger people who either want to get on the housing ladder or move on to a larger property."
The housing market looks set to be busier for Londoners, where 18% of people are thinking of buying or selling property in the next six months, compared with 12% nationally.
The study questioned more than 2,000 adults about their home buying and selling intentions over the next six months.
(C) 2012 Press Association
Permalink | Email this | Linking Blogs | Comments
Read more...
Tougher scrutiny for payday lenders
27 Jan 2012 at 8:04pm Filed under: Loans
Payday lenders will face tougher scrutiny under the new financial regulator, which will have beefed-up powers to behave proactively and impose unlimited fines on firms who breach the rules, the Government has confirmed.Such companies will find it harder to enter the market and will also have to undergo more rigorous checks when the Financial Conduct Authority (FCA) takes control of overseeing the consumer credit market.
The presence of payday lenders in the UK market has grown because of an influx of lenders from the US, where restrictions have been considered tougher than in the UK.
Consumer groups have been urging the Government to tighten regulation of the industry, with Consumer Focus saying previously that more should be done "to prevent consumers getting caught in spiralling debt".
Concerns have been raised about consumers becoming increasingly vulnerable to taking on debt they may not be able to afford to pay back, having been faced with high living costs, soaring bills and deteriorating employment conditions.
A recent study from Shelter found that one in seven Britons has turned to credit such as a payday loan or unauthorised overdraft to help cover their rent or mortgage in the last year.
Last month, insolvency trade body R3 found that 7% of people it surveyed, potentially equating to 3.5 million British adults, would be tempted to take out a payday loan over the next six months, which can result in interest rates of several hundred per cent being charged.
Under the more probing new regulations, firms will have to show a business plan and set out how they intend to treat customers, which is not currently required, and will also undergo more checks when they are up and running in the hope that problems are spotted earlier, before consumers are harmed.
Responsibility for the consumer credit market currently lies with the Office of Fair Trading (OFT), which can only impose fines of up to £50,000. But the FCA will have powers to impose unlimited fines on firms who breach rules and to take enforcement action against key people who are found guilty of misconduct.
Mark Hoban, Financial Secretary to the Treasury, said: "This is good news for consumers. The new Financial Conduct Authority will have much stronger powers to better protect customers who access credit, including from payday lenders. It will be a more proactive regulator."
(C) 2012 Press Association
Permalink | Email this | Linking Blogs | Comments
Read more...
Homeowners 'pay less than tenants'
27 Jan 2012 at 7:56pm Filed under: Mortgages
Owning a home has become more than £100 a month cheaper than renting, with a widening gap emerging, research suggests.Homeowners who have taken out recent deals typically pay £600 a month for a three-bedroom house, amounting to £116 or 16% less than the average of £716 paid a month for renting one, the Halifax found.
Wales is the only area of the UK where renting is cheaper than buying, with owning a home costing £5 a month more than renting.
Buying is most affordable relative to renting in London, with the average borrower paying £1,089, 10.2% less per month than the typical private tenant.
The overall figures show a significant about-turn since 2008, when the average cost of owning a home was £928, 29% higher than typical monthly rental costs of £721.
Halifax said the reduction in home buying costs was driven by falling mortgage rates as well as house prices.
The mortgage rate for a new borrower has fallen from 5.75% on average in 2008 to 3.63% last year, as lenders have been offering some of their cheapest ever deals due to the Bank of England's historic low 0.5% base rate, while average house prices have dropped by 11% over the same period.
As well as calculating the mortgage payments of the average new borrower, researchers also included household maintenance, repairs and insurance in home buying costs.
However, would-be buyers still face the hurdle of raising a deposit and are also likely to face a tougher time raising a mortgage this year, with lenders expected to tighten their borrowing criteria amid the weak economic backdrop.
Typical rents have been pushed up as those who would like to buy have been left trapped in the rental system and concerns have been raised that transactions could hit a record low this year.
(C) 2012 Press Association
Permalink | Email this | Linking Blogs | Comments
Read more...
Direct PPI claims 'as successful'
27 Jan 2012 at 7:41pm Filed under: Your Rights
Customers are just as likely as claims management firms to secure compensation in the event a payment protection insurer goes bust, it has been claimed.The Financial Services Compensation Scheme (FSCS), which pays out compensation when a company which has mis-sold PPI has gone under, said more than three-quarters of consumers are making claims to it through specialist companies, which typically take a 25% cut. While around 87% of claims made through third parties are upheld, this compares with 83% made by individuals, the FSCS said.
The average payout for PPI claims made by claims management companies to the FSCS is £4,534, with the companies then typically shaving off more than £1,000 of this total. Meanwhile, the typical payout to someone making a claim directly is nearly £2,000 higher, at £6,398.
The body has seen a recent surge in PPI claims, with 60% more claims being made in 2011 than in 2010. It said consumers can make claims themselves for free by filling in a form.
Mark Neale, chief executive of the FSCS, said: "In these tough times people may well think they increase their chances of getting their money back but that is not necessarily the case. Claims management companies take a sizeable part of the possible payout and are no more likely to make a successful claim than consumers can on their own."
Between 2008 and 2011, 16,387 PPI-related claims were submitted to the FSCS by claims management companies, of which 12,269 were upheld and £55.6 million was paid out in compensation. During the same period, 5,188 claims were made by individuals, of which 3,419 claims were upheld and £21.9 million was paid in compensation.
The FSCS pays out claims when a firm is unable to. For claims relating to the selling or arranging of general insurance, including PPI, the FSCS will compensate 90% of the value of the claim, with no upper limit.
Consumers took out PPI to help repay their loans if they fell ill for a long period or became unemployed, but a widespread mis-selling scandal emerged. Some customers found they had taken out the policy without realising they did not have to have it, or felt pressured into doing so.
The British Bankers' Association confirmed in May 2011 that it was not going to appeal against a High Court ruling that rules relating to the mis-selling of PPI could be applied retrospectively. The move meant more than three million people were in line for compensation, expected to result in an overall bill of up to £9 billion.
For more information about making a claim, visit www.fscs.org.uk or call the FSCS on 020 7741 4100.
(C) 2012 Press Association
Permalink | Email this | Linking Blogs | Comments
Read more...
Insurance: Writing fairness into policies - Cincinnati.com
27 Jan 2012 at 4:22pm Cincinnati.com Life-insurance companies all rely on ?underwriting? when providing life insurance to applicants. In recent columns I have discussed medical underwriting, that is, screening an applicant for his or her medical history and current condition. and more » |
Read more...
Siam Samsung Life ready to reawaken - Bangkok Post
27 Jan 2012 at 1:10pm Bangkok Post Siam Samsung Life Insurance Co, a Thai-South Korean joint venture, is set to raise its profile and aggressively expand its business locally now that it has completed its management restructuring. The joint venture in which Seoul-based Samsung Life ... and more » |
Read more...
Life industry premium dips 17% - Times of India
27 Jan 2012 at 12:03pm Times of India MUMBAI: Premium from sale of new life insurance policies in the first three quarters of FY 2010-12 has dropped 17% to Rs 71953 crore from Rs 86698 crore. If premium from group policies is excluded, the drop is even more precipitous at 33% to Rs 39131 ... Life insurance premium mop-up dipsBusiness Standard Premium shockWinnipeg Free Press all 4 news articles » |
Read more...
Life Insurance Premium Financing Specialists Announce the Availability of an ...
27 Jan 2012 at 6:16am MarketWatch (press release) 27, 2012 /PRNewswire via COMTEX/ -- The owners of American Premium Finance today announced the availability of their online resource site dealing with life insurance premium financing. This site, put together by premium financing specialists, ... and more » |
Read more...
Pension systems around the world: how the UK measures up
27 Jan 2012 at 4:00am Filed under: Pensions
Getty Images
Pension schemes in most western countries are in crisis as governments are grappling with ageing populations and mounting levels of state debt. In the UK, people over the age of 65 now outnumber those of school age, and the average retirement lasts almost a quarter of a century. As a consequence, state pension ages are increasing around the world - in the UK, it will be raised to 66 by 2020, and to 67 by April 2028.
Also under pressure, most companies in Britain have ditched their generous final-salary pension schemes and replaced them with defined-contribution plans - thereby creating a two-tier workforce as many older workers remain on final salary plans. Unilever, the company behind Pot Noodles and Dove soap, and Shell have recently angered staff by cutting pension payouts.
Final-salary schemes typically guarantee a retirement income worth two-thirds of final pay after 40 years' service, while defined-contribution schemes (where contributions are usually set as a percentage of salary) are invested mainly in the stock and bond markets and currently amount to a pension worth just a fifth of final salary.
%VIRTUAL-ArticleSidebar%
Despite receiving a slightly higher score last year, the UK remained in sixth place for the third year running in the annual Mercer survey, which compares retirement income schemes in 16 countries around the world. Experts at Mercer said the UK government should raise the minimum pension for those on low incomes and encourage households to save more generally. They did note that reforms underway such as auto enrollment into workplace pensions from October could make the UK a better place for pensions.
A similar scheme in New Zealand has seen the amount of workers saving for their pension more than double, with more than half of the country's working population now enrolled. The UK could see even higher figures as its auto-enrolment arrangements will cover all eligible workers, rather than only those who are changing jobs or just starting work, says the Association of British Insurers.
Maggie Craig, acting director of life, savings and protection at the ABI said: "Around half of workers are either not saving into a pension or not saving enough, so auto-enrolment will give many people the much needed nudge to save for their retirement and break the 'savings stalemate'. Whilst current financial pressures can mean building up a sufficient pension pot often gets put on the backburner, people should not ignore the opportunity to benefit from employer contributions and tax relief on their own contributions."
The UK is spending less on pensions than other countries - 6.7% of GDP (the OECD average is 8.4% and the EU average 9.1%). However at around 30%, the UK has one of the highest shares of public pension spending going to public sector workers, making it the fourth highest among the 27 countries in the OECD.
A look around the world reveals that... Over 80 countries have some kind of social pension - Pensionwatch has a list and further information.
Unlike most continental European countries, the Netherlands has a large occupational pension system that takes the pressure off government budgets. The retirement system comprises a flat-rate public pension coupled with an earnings-related occupational pension. Over 90% of Dutch workers are covered by 64 industry-wide and 866 single-employer schemes, with over 90% of these schemes providing defined benefit pensions (which are on the retreat elsewhere), according to a 2007 study of 12 developed countries by James Capretta at the Washington-based Center for Strategic & International Studies.
After two decades of pension reform, Australia is now held up as a model for other countries. In 1985-86 the trade unions secured, with government support, a deal that all covered employers contribute 3% of total wages to a pension plan, called a "superannuation fund". By July 1991, some 75% of Australian workers were covered by this fund, affectionaly called Super. That contribution has since risen to 9% and there are discussions about taking it up to 11% or 12%. In 2003, co-contributions were introduced - matching payments from the government to superannuation accounts for those on middle and low incomes who make voluntary contributions.
Edward Whitehouse, pensions expert at the Paris-based Organisation for Economic Co-operation and Development, says: "Australia was in a similar position to the UK, with half of people in schemes and half not. Switzerland was too. In the 1980s the Swiss made it compulsory for the other half of employers to set up schemes or go to an insurance company to set one up, and again that was pretty quickly set up," he told Money Marketing.
Australia also has a means-tested state pension. Whitehouse says Britain could learn from Australia on means testing. "The way we have done it in the UK has not been great. We have a top-up, whereas the Australians do it in reverse. They pay the state pension to everyone apart from the richest slice of people. And that is a lot easier to test. In Australia the rich don't even bother claiming it. You don't save as much money as you do by giving a top-up to the lowest 30%, by affluence testing rather than poverty testing, but you still save a lot of money. So since we are moving towards this basic pension, why not have an even higher basic pension but take it away from the richest 25%."
The National Association of Pension Funds has described the UK's means-tested state pension (currently £102.15 a week) as the "worst in Europe" and is arguing for simpler rules. Find out more about the state pension on Directgov.
Japan, one of the world's oldest societies, has a flat-rate basic pension, the National Pension that provides minimal benefits. Except for the self-employed, all Japanese workers also have to join Employees' Pension Insurance, with a flat-rate element similar to the National Pension (based on employer and employee contributions) and an earnings-related benefit. Those employed by the government join Mutual Aid Associations, which mirror the EPI. Both tiers of the pension system are funded from a payroll tax, which is split evently between employees and employers. There are additional occupational retirement schemes, and a larger number of older people work than in other countries.
Meanwhile in Africa, less than 5% of people have a right to a pension. In many Asian countries, including India and China, that figure is between 5% and 25%.
India has a much more youthful population than western countries but the number of elderly people is steadily growing: by 2050, those aged 60 to 79 will make up more than a fifth of the population. All central and state government employees are covered under a pensions plan - but that captures only 12% of India's workforce. In 2004, the government introduced the New Pension Scheme, a defined contribution plan that is available to all citizens. And it has just unveiled a new pension and life insurance scheme that would benefit over 5 million of its unskilled and semi-skilled workers employed overseas.
Gallery: Standards of living in the EU
Permalink | Email this | Linking Blogs | Comments
Read more...
IndiaFirst Life Insurance launches Autolife - Economic Times
27 Jan 2012 at 3:35am Economic Times The announcement was made by Dr. P. Nandagopal, managing director & CEO, IndiaFirst Life Insurance. Mr. MD Mallya, chairman & managing director of Bank of Baroda, Mr. BA Prabhakar, chairman & managing director of Andhra Bank and Mr. Gareth Hoskin, ... IndiaFirst's new plan: Life cover and car buy at same spotIBNLive.com IndiaFirst launches insurance plan for vehicle-buyersHindu Business Line IndiaFirst in tie up with Varun MotorsThe Hindu all 11 news articles » |
Read more...
Waitrose and Boots revise tie-up
27 Jan 2012 at 3:21am Filed under: Shopping & Deals
Supermarket Waitrose will no longer stock beauty products from health chain Boots after a trial failed to meet the expectations of both businesses. The tie-up, launched in March 2010, was seen as a chance for both businesses to improve their offering for customers and to compete against the UK's top four supermarkets. But Waitrose has decided to pull Boots products, such as its No7 skincare and cosmetics brand, from the shelves of 13 stores where the trial was conducted. It is understood that customers reacted poorly to the change and complained about no longer being able to buy some Waitrose products.
A Waitrose spokeswoman said: "It didn't meet the expectations of either partner. But that's the point of having a trial - to learn what works. The products will be replaced by Waitrose own-label or branded products."
%VIRTUAL-ArticleSidebar%
The 13 trial branches were in Dorchester, Westbury Park, Hersham, Ringwood, Worthing, Bury St Edmunds, Lichfield, Meanwood, Nailsea, Finchley, Lincoln, Wandsworth and Sudbury.
However, Boots, owned by Alliance Boots, will continue to sell Waitrose food lines, such as sandwiches and snacks, which are offered in about 34 stores. And Waitrose said the changed arrangements will not impact its pharmacy deal with Alliance Boots, and it will keep its Boots-branded chemists in 14 stores.
Boots sells its products through a range of other retailers internationally, such as US giant Target.
Save money on shopping
When the tie-up was first launched, Richard Hodgson, commercial director at Waitrose, said: "We want to make Waitrose accessible to more people in more places and this exciting partnership will help us achieve this goal - and we believe our customers will be delighted to buy Boots loved and trusted health and beauty products and toiletries in our shops." Both Boots and Waitrose had a strong Christmas. Alliance Boots said its UK retail division, which has more than 2,500 stores, saw like-for-like sales grow 4.1% in the five weeks to December 31, while group revenues increased by 14.1% compared to the previous year.
Waitrose, which has 271 shops across the country, said like-for-like sales in December increased 3.8% on last year, after it recorded its highest-ever sales for a single week in the run-up to Christmas. The ten best sites for savings
Permalink | Email this | Linking Blogs | Comments
Read more...
Tax advice of the week: Take out an offset mortgage
27 Jan 2012 at 2:46am Offsetting your savings against your mortgage could save you hundreds of pounds in mortgage repayments.Read more...
U.S. Commercial Property-Insurance Rates to Climb, Marsh Says
26 Jan 2012 at 11:00pm (Bloomberg) -- U.S. businesses will probably pay more this year for property coverage after insurers took losses from natural disasters and investment income declined, Marsh & McLennan Cos.’s insurance brokerage said. Half of U.S. clients surveyed by broker Marsh Inc. said the cost of property insurance rose in the ...Read more...
Family Health Insurance Costs Doubled in 7 Years, Study Finds
26 Jan 2012 at 11:00pm If you’ve seen your health insurance premiums increase along with your deductible, you’re not alone. A recent study by the Commonwealth Fund shows just how much more consumers are paying for employer-provided health insurance. Total premiums — the amount paid by both employers and workers combined — for family ...Read more...
Vantis Life Completes Third Consecutive Year of Double Digit Sales Growth - M...
26 Jan 2012 at 11:03am MarketWatch (press release) 26, 2012 /PRNewswire via COMTEX/ -- Vantis Life Insurance Company today announced record growth in new recurring life insurance sales for the third consecutive year. For the calendar year 2011, the company reported a 26% increase in sales versus 2010. and more » |
Read more...
Retirement income scorecard first quarter 2012: Immediate annuities - CBS News
26 Jan 2012 at 5:19am  LifeHealthPro | CBS News With an immediate annuity, you give your retirement savings to an insurance company, and they promise to pay you a monthly retirement income for the rest of your life, no matter how long you live. You can continue the income flow for your spouse or ... Fitch: New York Life's IFS 'AAA'LifeHealthPro Rocky road for insurersBusiness Day all 3 news articles » |
Read more...
Life insurance policies should be reviewed periodically - The State Journal-R...
25 Jan 2012 at 11:14pm  Bangkok Post | The State Journal-Register By Elaine Spencer In addition to medical checkups for physical health, there's another kind of checkup experts recommend for your financial health ? a review of life insurance coverage. ?Life insurance needs will most likely change over time,? said ... Life insurance companies court seniorsPayson Roundup Insurance: Seek cover, not moneyBusiness Standard Online Insurance Marketplace AnnouncesSan Francisco Chronicle (press release) Bangkok Post all 7 news articles » |
Read more...
Cruise liners need tighter safety rules - insurers
24 Jan 2012 at 11:00pm LONDON, (Reuters) - Passenger ship operators should tighten up safety procedures and crew training standards to prevent a repeat of the Costa Concordia shipwreck, potentially the costliest marine insurance loss on record, shipping insurers said on Tuesday, "In the past, we ...Read more...
FHA Raises Subprime Debt Insured for Housing Rebound
24 Jan 2012 at 11:00pm InsuranceHeadlines (Bloomberg) -- In Honolulu, on the southern coast of the island of Oahu, there’s a four-bedroom home priced at $785,000 that has views of the sun setting over the Pacific Ocean. The beaches of Waikiki are 15-minutes away. Starting this month, the property is available to ...Read more...
Availability, pricing of coverage main concerns for insurance buyers
23 Jan 2012 at 11:00pm A survey of a global coalition of insurance brokers finds that nearly all believe the top concern facing their clients is the availability and pricing of coverage. The issue is particularly challenging for buyers with large natural catastrophe and supply chain exposures, according to the survey of the 25 ...Read more...
Tax advice of the week: Plant a seed
23 Dec 2011 at 3:43am Take advantage of the new seed enterprise investment scheme (SEIS) to save thousands of pounds in capital gains tax.Read more...
VA Life Insurance Program Rated Highest in Customer Satisfaction
16 Nov 2011 at 11:00pm WASHINGTON--(BUSINESS WIRE)--The Department of Veterans Affairs’ Life Insurance Program has once again validated, through a renowned independent survey, that Veterans and their beneficiaries are very highly satisfied with the service they receive. “I am very proud of our staff and the quality of the service they provide each and ...Read more...
Many Financial Advisors Miss Opportunity to Incorporate Life Insurance into P...
17 Aug 2011 at 12:00am HARTFORD, Conn., Aug 16, 2011 (BUSINESS WIRE) -- Financial advisors often miss the opportunity to speak to their clients about the important role life insurance products can play in financial planning, according to a recent survey by Saybrus Partners, Inc. Results of the survey showed that only about half of ...Read more...
New asbestos charges point to reserve woes
28 Jul 2011 at 12:00am NEW YORK (Reuters) - Asbestos-related diseases have been falling for a decade, but warnings from a pair of U.S. insurance giants about new claims raise questions about the industry's ability to put the scourge behind it. While medical evidence suggests fewer new cases of asbestosis and the lung cancer ...Read more...
