Tag Archives: critical illness cover

Confused.com reveals the benefits and dangers of Baby on Board signs

Confused.com has teamed up with Brake, the road safety charity, to highlight the benefits and dangers of ”Baby on Board’ signs and remind parents about safety for younger passengers.

37% of parents (almost 2 in 5) have displayed a ‘Baby on Board’ sign either currently or in the past. Now it’s time to find out if they are a help or a hazard. Confused.com’s new research among 2,000 drivers (50% of whom have children under 16) found that 80% of the parents who use baby on board signs think they improve safety, while 46% of drivers said that ‘Baby on Board’ signs obscure vision when driving.

Confused.com’s research discovered that clutter is a concern among many drivers, and having too many novelty items displayed could be a safety issue. 51% of all those questioned said they think other drivers display too much clutter in their car windows, such as stickers and novelty items. 15% of drivers who do exhibit these signs admit they do so simply because they are a cute/novelty item while 4% only display one because they received it as a gift.

Brake’s experts have confirmed that window clutter can be an issue on the road, but acknowledge that baby on board signs can also have a safety benefit.

Julie Townsend, Deputy Chief Executive at Brake, said: “Baby on board signs can be incredibly helpful for emergency services at the scene of a crash in knowing whether there’s a child involved, but this help can become a hindrance if drivers display signs when their child isn’t in the vehicle. Worse still is the danger that can be posed by drivers obscuring their view by cluttering up windows with lots of signs. Drivers’ priority should always be getting there safely, without putting themselves, young passengers or other road users a risk. That includes ensuring your view isn’t obscured and you remain fully focused on the road.”

The research also found that drivers who have never displayed a ‘Baby on Board’ sticker or do not drive children around are more likely to think the signs are tacky (34%) or dangerous as they obscure vision (18%).

Meanwhile, 46% of people who drive kids around say they have driven with a ‘Baby on Board’ sign and 22% of these say they always display the sign.

Confused.com’s survey also reveals that 14% of parents with under-16s think ‘Baby on Board’ signs are uncool/not trendy and 33% of drivers think the signs are ‘tacky’. Interestingly, it’s women who are most likely to disapprove of the signs, with 35% of women questioned saying the signs are ‘tacky’ while only 31% of male drivers felt the same.

The research also found that a quarter of parents aged 18-24 (who have young children) always display a ‘Baby on Board’ sign when they drive. This age group is also most likely to display novelty stickers in their car window, compared to drivers of other ages. 18-24 year-old drivers are least likely to say that other drivers display too much clutter in their car windows.

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Confused.com Reveals Telematics Technology Helps To Create Safer Roads And Save Drivers Money

Confused.com has introduced a range of car insurance providers which could offer discounts to its customers for good driving, via telematics technology.

Confused.com, the car insurance comparison website now has five telematics insurance providers on its website, which include insurethebox, Autosaint, Coverbox, AA Drivesafe and Bell. By having a telematics device fitted to their car, drivers could save money on their car insurance.

Technology is changing – and so is the law. The European Court of Justice has ruled that from 21 December 2012, car insurance premiums must be gender neutral and as such, car insurers are finding new ways of assessing risk such as through telematics
devices.

Telematics enables personalised insurance based on the policyholder’s driving. This is measured by the black box, or otherwise known as telematics device, which gathers data from the telematics device fitted to the car. Telematics is a method of monitoring a vehicle gathering data such as mileage driven and harsh acceleration and braking.

The insurance provider fits this device free of charge to its customer’s car and the better the driving, the greater the chance of premium reductions on renewal. Customers who use the device could also see their driving manner online through a secure personalised portal. They can even try and improve their driving skills by using the data to see if they are driving too fast or breaking too harshly, making the roads safer for everyone.

As an additional safety benefit, the telematics device will inform the insurance company in the event of an accident, and the emergency services may be contacted where appropriate. On top of this, the device acts as a tracker, meaning the car can be located in the event of being stolen.

When it comes to car insurance, if a driver is unlucky enough to fall into one of the high risk groups such as young drivers or inexperienced drivers telematics can help. 17-20 year olds pay an average of £2,491 for a comprehensive policy, more than three times the national average of £797. But instead of paying for insurance based on the average driver, telematics insurance is based on how individuals drive.

Gareth Kloet, Head of Car Insurance at Confused.com, said: “Telematics insurance is targeted at drivers who believe they can reduce their premiums by driving safely. This can be of specific benefit to young drivers, who traditionally have been considered a higher risk than other drivers. Telematics allows insurers to offer premiums that reflect an individual driver’s actual risk on the road not just assessing them by age or gender.”

“Telematics is great for young drivers or anyone who wants to take control of their insurance costs and Confused.com’s car insurance comparison service makes it easy for customers to compare different policies and now offers even greater choice for insurance than before.”

Confused.com’s telematics services will be supported by a new 30 second TV advert running from 25 July. The new advert can be viewed at www.confused.com/press/our-adverts.

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Confused.com Research Reveals Life Insurance Timebomb Of Co-Habitees

Confused.com, the price comparison site, has revealed new research which shows that 66% of people living together as a couple do not have a will.

The new survey of 2,000 co-habiting and married adults also revealsthat 50% of people living with their partner do not have life insurance. Unsurprisingly the number of people who do have wills rises with age: 66% of over 55s have a will, compared to just 24% of 18-24 year olds. However, 47% of over 55s who are co-habiting or married do not have life insurance.

Despite not having these plans laid for the future, 65% of couples do have mortgages, 45% of which are in joint names, and 28% say they could not afford the funeral if their partner or spouse died.

Matthew Lloyd of Head of Life Insurance at Confused.com warns: “Having a will is a sensible step towards providing for the future but if you don’t have life insurance too then your partner may find themselves facing money worries as well as grief should the worst happen. The cost of life insurance is lower the younger you are and so you can save money by signing up for a policy at a younger age. For example £100,000 of cover could cost as little as 17p a day.”

He continued: “There seems to be a myth that unmarried partners are automatically protected but this is not the case. If one partner in a couple dies but you were not married or registered civil partners then you won’t automatically get a share of your partner’s estate if they don’t have a will.”

5% of couples are embarrassed to talk to their partner about getting a will and this figure rises to 10% among over 55s. When asked how they would pay for a loved one’s funeral if the money was not there, 9% would opt for a pauper’s grave while 33% would turn to family for financial help, 19% would take out a loan and 20% would put the funeral on a credit card.

People without a will may wish to take advantage of Will Aid during the month of November where many solicitors will waive their fee in lieu of a donation to the charity.

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LV= Announces Improvements To Its Protection Range

LV= has announced that it has improved its term rates for higher sums assured, re-priced its FPP Term Assurance, Family Income Benefit and Gift Inter Vivos products, as well as cut prices on its accident and sickness cover under its Mortgage & Lifestyle Protection product.

The changes to the term rates for higher sums assured, typically between £150,000 and £300,000, come soon after LV= re-priced its critical illness cover, meaning LV= is now leading the way on price for many term assurance contracts.

Mark Jones, head of protection at LV=, said: “These improvements will help us offer customers a combination of great experience, proven ability and competitive prices. We make no bones of the fact we are keen to expand our customer base for term assurance, especially at the higher sums assured end of the market.”

LV= has also improved all of its accident and sickness rates for lower risk occupations under its award winning Mortgage & Lifestyle protection product.

Mark Jones concluded: “The re-pricing of our accident and sickness rates within our Mortgage & Lifestyle Protection product for lower risk occupations is a clear demonstration of our strategy for marrying competitive pricing with market leading product innovation. We are very pleased to be able to reduce all of these premiums, as this further enhances an already top class proposition for mortgage advisers.”

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LV= Has Announced That Its Level And Decreasing Term Assurance Products, As Well As Optional Critical Illness Cover, Are Now Available On The Moneysupermarket.Com Price Comparison Website

This is the first time LV= has launched its protection products online through an aggregator website. Customers can now compare the LV= life insurance and Critical Illness Cover products against the others which are available in the market, as well as any additional benefits that may be offered, with the ‘more than a cheque’ benefits from LV= which include ‘Healthy Steps’, an online health assessment and advice service, as well as free terminal illness cover.

Robin Willison, LV= Financial Advice Director commented: “It’s great that potential customers will now be able to compare the value and features of our life insurance against a number of other providers in the market. We are conscious of the financial pressures that many people are facing at the moment, and this move will demonstrate how competitive we are, and allow consumers to get the best value cover at a price that is right for them.”

Emma Walker, Head of Protection at moneysupermarket.com said: “We have been working with LV= through our off line advice team for five years and are now delighted to welcome LV= to the moneysupermarket.com consumer facing website, as we constantly strive to provide customers with the widest choice across the market. In the current climate it is more important than ever for customers to be able to compare prices and investigate levels of cover available. This is a great move for a protection specialist like LV= as they really are helping people to look after what they love in life by joining our platform.”

* Terminal Illness cover is included free and applies if the customer has less than 12 months to live, allowing customers to claim on their policy.

About LV= 
LV= and LV= Liverpool Victoria are trademarks of Liverpool Victoria Friendly Society Limited and LV= and LV= Liverpool Victoria are trading styles of the Liverpool Victoria group of companies. The new LV= brand identity was launched in March 2007.

LV= employs more than 3,800 people, serves around 3.2 million customers and members, and manages around £7bn on their behalf. We are also the UK’s largest friendly society (Association of Friendly Societies Yearbook 2006/2007, total net assets) and a leading mutual financial services provider.

LVFS is authorised and regulated by the Financial Services Authority and entered on the Financial Services Authority Register No. 110035. LVFS is a member of the ABI, AMI, AFS and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.

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LV= has announced that it is now offering free critical illness (CI) cover to anyone taking out an income protection (IP) policy under the LV= Flexible Protection Plan within the next three months

New customers will receive a free lump sum CI benefit equivalent to three times their monthly IP benefit.

Chris McFarlane, LV= Head of Protection, said: “At LV= we believe that protecting your regular income should be at the heart of sound financial planning. Worryingly, there is a clear consumer misconception that critical illness cover will provide the protection they need if they are unable to work due to long term sickness or an accident. In many cases the real need is for a regular continuing income, rather than a lump sum payment provided by critical illness cover.

“In addition, there are conditions that are not covered under critical illness policies, for example a back injury, which could leave someone experiencing financial difficulties if they are unable to work and don’t have the right cover in place. Now more than ever, financial advisers need to help their clients understand the importance of protecting their regular income in case they are unable to work for a long period.”

This special offer aims to promote income protection and encourage more customers to protect their regular monthly income, but it also recognises that customers can additionally benefit from a small lump sum payment to help them adjust if they had a serious illness. LV= believes that this will make it easier for financial advisers to sell more appropriate cover and therefore grow their volumes.

Additionally LV= has also launched an online Income Protection Toolkit, available from www.lvadviser.co.uk, for financial advisers to use with their clients. This follows the publication of LV= research which revealed that of those surveyed eight out of ten adults in full time employment (84%)* were unaware of recent changes to the Welfare Reform Act, and how these could affect any income received from the state if illness or an accident prevented them from working.

Among various multi-media elements, the toolkit includes an Income Protection Shortfall Calculator for financial advisers to use with clients, to show the impact that an accident or sickness could have on their monthly income. The calculator also takes into account what people may be entitled to receive from their employer if they couldn’t work for a long period, and the Employment and Support Allowance (ESA) they may be able to claim.

Chris McFarlane concluded: “We are committed to supporting advisers with relevant tools, information, offers and guidance to help educate their clients. The free CI offer highlights the importance of IP, both on its own and alongside CI, and will also help advisers to grow their business. Our innovative calculator is easy to use and shows in a simple graph format how IP can protect a client’s regular monthly income, should the worst happen.”

* Source: Opinium Research. Total sample size was 2,000 UK adults. Fieldwork was carried out online, between 29 – 31 October 2008.

Full details of the LV= free Critical Illness cover promotion are available on the LV= website.

About LV=
LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and LV= is a trading style of the Liverpool Victoria group of companies. The new LV= brand identity was launched in March 2007. LV= employs more than 3,700 people, serves more than 3.6 million customers and members, and manages around £7 billion on their behalf. LV= is also the UK’s largest friendly society (Association of Friendly Societies Year Book 2006/2007, Total Net Assets) and a leading mutual financial services provider. Liverpool Victoria Friendly Society Limited is authorised and regulated by the Financial Services Authority and entered on the Financial Services Authority Register No. 110035. LVFS is a member of the ABI, AMI, AFS and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.

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