Main Website Links

Summary

Stop smoking and the savings will be more than you expect - you life insurance premiums should be some 50% cheaper to start with. This article explains.

Life and Critical Illness Insurance. Quit smoking and your premiums will crash. Page 2

Author: Michael Challiner

People searching the Internet for low prices, have forced the insurance

Mortgage - does it give the best deal against your home: A basic intorduction to the different types of mortgages available and their uses.
Mortgage Research Good News for House Buyers: Coments on the direction of interest rates and the mortgage market.
Rate Tarts No Longer Welcomed By Mortgage And Credit Card Providers: Mortgage lenders are taking steps to reduce the number of people switching their mortgages. This article looks at the situation.
Buy to Let Mortgages. Boom time returns.: Buy-to-let mortgages are booming again. What's changed and what, as a new landlord, do you need to look out for?
Mortgages and Loans. Islamic finance avoids interest.: Muslims are forbidden by the teachings of the Koran to pay interest. This means that conventional mortgages and loans cannot be used. This article explains the alternatives available for Muslims and defines some of the words used in Islamic finance.
House price rises – a cautionary tale: The housing market seems to be buoyant with house sales exceeding expectations in some parts of the country. If mortgage rates start to rise, the market may see a correction. Take care not to take on too much debt.

Life Insurance News

companies to cut their standard rates - these are the rates they quote all their initial enquiries. But the insurers have had to recover some of their revenue in other ways. What we have seen is a tightening of underwriting criteria. This means that anyone who is not a lithe, fighting fit non-smoker will have to pay non-standard rates - to you and me, that means more! And as smokers expose themselves to a self imposed health risk, they get hit in the neck!

So giving up smoking is a really good way to save on your life and critical illness premiums. Most companies won't classify you as a non-smoker until you've fully given up for a least a year - and some even want five years. But once you've passed the 12-month stage you need to contact your insurer and be re-quoted. And don't be tempted to lie because that's false economy. If you were subsequently to make a claim, the insurer is certain to seek confirmation from your Doctor that you were a non-smoker and if that was wrong, the claim would be thrown out under the policy's non-disclosure provisions.

Once you have the re-quote you'll see a big reduction in the premium but don't accept it automatically. The odds are that you'll still get a cheaper quote elsewhere on the Internet - and what better place to start than our web site!

Just a word of warning. If you do find it's cheaper to switch, don't cancel your existing policy until the new policy is confirmed and in place. That's because it's always possible that the new insurer will revise their initial quote upwards when they've seen your full application details and health record. Only cancel your existing policy when everything's in place with your new policy.

And it's quite easy to terminate a policy - simply cancel your direct debit! After a few weeks the insurer will contact you to find out why - just tell them you don't need the policy anymore, and that's that! There are no cancellation charges just more savings in the bag.

Did you Know?
According to Land Registry figures, there has been a huge increase in the number homes sold for £1m plus. Despite what you'd expect, this hasn't caused the scramble for business you'd expect from lenders. Many of them are exercising caution when it comes to the well-heeled mortgage seeker. Surprisingly, the best deals go to the smaller borrower. It seem as if lenders would prefer to lend 10 borrowers £150,000 each rather than one loan of £1.5m, in order to spread the risk.

It is, however, beginning to get easier to get mortgage quotes for high value homes. Recent figures from the Land Registry show a massive increase in the sales of million pound plus properties.

Did you know?
If you can't get home insurance , beware – the Royal Institution of Chartered Surveyors warns that value of your house could fall by 80%. And it's a high flood risk that is most likely to make your house uninsurable. According to a recent report, 6.5 million homes are already at risk from flooding and 1.5 million homes are in areas at high risk. Furthermore, if global warming continues, by 2030 this 1.5 million figure could double.

Today's Tip

Don't buy direct from a Life Insurance Company or even your bank, until you have received at least two quotes from specialist life insurance brokers. That way you're bound to get a great deal for your life insurance policies .