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Only one in five covered for illness

Only one in five people are prepared for the financial impact of a serious

long-term illness, according to research from HSBC.

But nearly two-thirds have already planned how they would spend their

lottery prize if they ever win.

The pattern is most pronounced among families with young children. Some 49

per cent of such families admit they would be in financial difficulty if

the main breadwinner were to fall seriouslyill but 22 per cent have taken

no action to prepare.

The survey of 1,000 people shows 44 per cent of men feel they are

adequately covered, and 37 per cent of women saythey are covered.

HSBC is running a Lifecare campaign to draw attention to the importance of

people protecting against illness, accident or death.


More plan for lottery win than longterm illness says HSBC

Only one in five Brits are prepared for the financial implications of a serious long-term illness, research from the HSBC says. At the same time, nearly two thirds of UK residents have planned how they will spend their lottery prize should they ever win. These numbers are especially significant with families who have young children. […]

£365,000 handshake for Reliance chief Bateup

Reliance Mutual has given chief executive John Bateup a golden handshakeof £365,000 despite a solvency crisis.He was paid the sum last December when Reliance was having to use itswith-profits fund to cover a massive pension misselling liability insubsidiary the British Life Office.Free assets then amounted to £5.4m but £5.3m of this was drawnfrom future profits, […]

AssureWeb in bid to boost business with online data

AssureWeb is aiming to give IFAs greater access to product informationfrom some of the software company&#39s major contributors.Life offices CGU, Standard Life, Scottish Widows, Skandia and Legal &General will make more of their key product features available to AssureWebso IFAs will be able to conduct a greater degree of their business online.AssureWeb has 7,000 IFA […]

Legal advice service for £10 a month

Armstrong Neal Solicitors and its training organisation ProAct areoffering a legal service for IFAs for “the price of a takeaway”.For £10 a month, IFAs can join Legal Protect for guidance in disputeswith networks or a regulator. Armstrong Neal&#39s usual hourly rate is£250.Its caseload of IFA-based disputes has doubled this year. It says themajority of cases […]

Greg Broomer 2

Survey looks at the challenges facing businesses post auto-enrolment

A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.


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