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Cancelling protection plans could have long-term implications, warns

Cancelling protection policies or failing to understand their benefits could have massive long-term implications, warns

The comparison site says in worsening economic conditions it is unwise to chance not being protected against potential risks directly linked to your finances by canceling plans or ignoring their benefits.

Instead, chief executive James Harrison is now urging consumers to consider payment protection insurance as a way of protecting income, and protecting against unemployment.

He says: “With people in the UK losing their jobs at the fastest rates since 1991, PPI should be on your list of top priorities when considering the financial security of you and your family. In addition to the number of unemployed rising to its highest level since 1997, the cost of living also continues to go up.”

However, he does point out that finding the right PPI policy can be complicated and says speak to an adviser about your finances to establish what kind of protection is most suitable, and PPI policy meets your insurance requirements.


FTSE slips below 4,000

The FTSE 100 has slipped below the 4,000 level after opening 46 points lower at 4,019.18 on Monday’s close of 4,065.49.

Tories could ditch personal accounts

Conservative Shadow Work and Pensions Secretary Chris Grayling says the Tories would consider ditching pension personal accounts in favour of auto-enrolling employees to existing stakeholder schemes.

AA breakdown

To the 6,000 ARs who were working for Prudential back in 1991-93, I owe you an apology. Actually, I should only apologise to the several hundred people who came on the asset allocation training courses I ran for Pru but I know the training material was copied and widely used by others.

'Feeling the Squeeze'

Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]


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