10 TO 6 – THE MOST READ ARTICLES ON PROTECTION GURU IN 2022
It has been another busy year on Protection Guru with even more page views and visitors to the site as well as the launch of our BRAND NEW ProtectionGuruPro tool. To wrap up the year we we have looked through our MI to understand what the most read articles were on the site. In the first of a two part series today, we run down from 10 to 6 on the list.
WHAT IMPACT WILL MORTGAGE RATE RISES HAVE ON LIFE INSURANCE COVER?
Last September’s ‘fiscal event’ (a budget in all but name) saw the chancellor unveil a raft of measures intended to stimulate the UK economy. The market turmoil that’s followed however, driven partly by concerns over the amount of borrowing required to fund the measures, has sent the value of the pound plummeting and now suggestions from the Bank of England that it will raise interest rates further, to tackle rising inflation. All of this is causing a particularly chaotic time for the mortgage market, with some lenders suspending new mortgage offers and the looming threat of significant mortgage rate rises for many borrowers.
WHEN DO INSURERS APPLY SMOKER AND EX-SMOKER PREMIUM RATES?
The 9th March was No Smoking Day 2022, an annual health awareness day in the UK, intended to help smokers who want to quit smoking and run in partnership with the NHS. This years campaign heading is ‘today is the day’ and on the dedicated site those who wish to give up smoking can access a range of information, support and resources designed to help them kick the habit.
HOW CAN PROTECTION PLANS HELP CLIENTS MANAGE THEIR MENTAL WELLBEING?
Many of you will be aware of the term Movember and when it occurs however, are you aware that Movember is also the name of the leading charity changing the face of men’s health. Movember has funded more than 1,250 men’s health projects around the world with the aim of transforming the way health services reach and support men. One of their main cause areas is mental health and suicide prevention.
HOW DO INSURERS COMPARE ON THEIR LIFE INSURANCE FREE COVER?
Applying for protection insurance can unfortunately still be for many clients a long and drawn out process. Whilst the industry has made progress in recent years in improving underwriting processes, including by increasing automatic underwriting limits and removing more onerous requirements, in many cases medical evidence will still be required which can delay the application. For some clients, even if the application and underwriting process is completed quickly, their cover may not be able to commence immediately because of mortgage delays.
CONFUSED & COMPLICATED – THE NEW ABI MINIMUM STANDARDS
After much delay and anticipation the ABI have finally released their latest “Guide to Minimum Standards for Critical Illness Insurance Cover” today. Its overarching aim is to provide the minimum standards for definitions of key conditions to help reduce confusion and provide greater consistency across products. Reviewed every three years to reflect changing medical and industry practices, the guide is sure to trigger a plethora of activity in the critical illness market, but what has changed since the last guide in 2018 and what does it mean for policies that implement the changes?