QuoteLifeCover

  Even speaking as people whose business is protection insurance, we will admit that the industry hasn’t always had a great reputation for its willingness to pay out in response to claims. But is that reputation founded in any reality, or do the doubters have a point? Workers are often cynical about the chances of insurance paying out Let’s start with the perceptions, and there are some alarming figures out there. One survey undertaken by an insurance company in 2015, for instance, quizzed 2,000 workers on what percentage of Life Insurance claims they believed actually resulted in a successful payout. The response? People guessed, on average, that a successful payout occurred about 50% of the time. In other words, the general belief was that for every successful life insurance claim, another claim was refused by the insurer. With that being the perception, we can hardly blame some people for deciding not to purchase life insurance or a similar protection product. After all...

If you are a renter reading this blog post, have you ever stopped to consider what you would do if you were rendered unable to work, and therefore also unable to keep up with your monthly rental payments and other bills? We ask this question, because a recent survey by a well-known life insurance provider has once again thrown light on the subject of the millions of renters out there who lack a financial safety net in the event of the worst happening to them. What exactly did the survey discover? The poll that we are referring to was recently reported on by the Financial Times’ FTAdviser website. Specifically, the insurance specialist found that just 5% of renters had taken out critical illness insurance , which is the type of cover that provides a tax-free lump sum in the event of the policyholder suffering a serious illness such as cancer. It was also discovered through the research that a mere 3% of renters had an income protection policy, and even life insurance was only he...