Main Website Links

Summary

The cost of Life Insurance is going up for smokers and those of us who are overweight. This article explains who is affected.

Life Insurance - Smokers and Overweights pay over 50% more! Page 2

By Michael Challiner

The life insurance industry has also recently tightened its belt on the overweight

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.
Loans. Mortgages. Credit cards. Interest rate rises around the corner.: The financial institutions are expecting interest rates to rise. When and what's expected?
Mortgages. Watch out for add-on charges.: Mortgage lenders use headline interest rates to attract borrowers. But behind the scenes they're introducing a whole raft of add on charges. This article explains.

Life Insurance News

members of society. Previously, only people with a Body Mass Index of 33 or more were considered as overweight. This level has now been reduced by 16%. Now anyone with a BMI of 28 or more is likely to face premiums loaded by 50%. If you're anxious to know whether that includes you, you'll need a calculator! BMI is calculated by dividing your weight in kilos by your height in meters and the result squared.

So if you're intending to apply for life insurance is may be as well to loose a few pounds first - oops kilos - and they're much harder to lose than pounds!

It's not quite so straightforward for smokers. To qualify as a non-smoker, most insurance companies insist that you must not have "smoked or otherwise consumed any form of nicotine products during the previous 12 months." Indeed, some companies go further and extend the qualifying period to 5 years!

Because premiums for smokers and chubbies are so high, it becomes even more important to seek out the cheapest possible prices. As you're an internet surfer, the odds are you'll land a good discount. Just search for cheap life insurance and let your fingers do the walking!! You'll still pay more but the discount will soften the impact on the wallet. Expect online savings of 10% - 15%.

Did you Know?
According to the Council of Mortgage Lenders, last year over 200,000 homes in the London area were financed by an interest only mortgage without a repayment vehicle being in place. Of these, 60,900 buyers were first-timers.

We cannot find national figures for the total number of homebuyers with interest only mortgages. However, the market share for interest-only mortgages has been running between 10 and 20% over the past 10 years.

Now it looks as if mortgage brokers have been arranging more than half of these interest only mortgages. So when these mortgages reach maturity, if the mortgage holder hasn't enough cash to repay the mortgage debt, many of these brokers could be up with a claim for miss-selling.

Did you Know?
Personal secured loans are widely advertised on the Internet but research has found that of those applicants who are accepted, 43% are offered a rate that is higher than the advertised rate (source: Experian, the UK's largest credit reference agency). Therefore, if you're looking for a cheap secured loan, it's probably best to apply through a loan Broker. The Broker will know exactly which lenders will accept your credit history and find you the cheapest possible loan.

Did you know?

53% of all car insurance is now bought online. That's because buying online car insurance helps you find the best deals. And it's important to remember that when it comes to renewal time, you need to shop around the Internet again! Don't automatically accept a renewal notice without checking out prices first – you may still get it cheaper!

Did you know?

Buying your car insurance policy online guarantees you the best deals. That's why 53% of all car insurance is now bought online. And when it comes to renewal time, shop around the Internet again! Please don't accept a renewal notice automatically without first checking out prices on the ‘net – there's a good chance that you can still get it cheaper!