Archive for February 25th, 2010

12m people covered by critical illness insurance

Dr Marius Barnard has described critical illness insurance as one of the largest policies in the UK. Dr Barnard created the product fifteen years ago, and has said that over the course of that time it has been refined and improved. When it was first introduced in 1983, critical illness insurance covered only four conditions. [...]

PPI revenue kept personal lending profitable

The Competition Commission has published details of its investigation into payment protection insurance (PPI), in which it claims that the lenders who sell the insurance can earn £1,200 on a policy that can cost only £20 to sell. The Commission’s investigations follow complaints from consumer groups that PPI is expensive, unnecessary and difficult to claim. [...]

Financial Ombudsman inundated with PPI complaints

The financial Ombudsman Service (FOS) has reported a sharp increase in complaints on the outstanding balance insurance (PPI) and this call is on Banks and other lenders to act quickly to compensate for most customers, since the evil sold PPI. In January 1499, the FOS received complaints about PPI compared to 1832 for the fiscal [...]

Heart disease on rise, insurers offer incentives to be healthy

After three decades of decline, heart disease is now rising again by a team from the University of British Columbia, published in the journal Archives of Internal Medicine research. Particularly at risk are the new generations. The rate of heart disease began to appear in the layer between 35 and 55, with the approval of [...]

L&G critical illness claims 88.2% successful

Legal & General (L & G) has made 110 million in insurance claims in 2007, so that the applicant has a success rate of 88.2% versus 83.3% in 2006. The non-disclosure has been reported as a reason for 7.7% of those rejected in the past year. The increase from 17.9 million in payments is by [...]