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Quitting smoking “has little impact” on life premiums

Ex-smokers can save on average about £1000 a year on cigarettes yet their decision to quit may have little impact on their life insurance premium.

Non-smokers pay around £10 less a month than smokers for term insurance, although ex-smokers do not benefit from the lower rates for one to two years.

Smokers&#39 premiums have fallen an average of 22 percent in the last six years, and on the pension side their annuities are higher than non-smokers in line with lessened life expectation..

Swiss Re&#39s Life & Health&#39s Dave Grimshaw says: “The term insurance market is very competitive and non-smokers saw the benefit of lower premiums first but prices for smokers are becoming more competitive too.”


Halifax launches new mortgage range

Halifax is launching a range of fixed rate and discounted mortgages with no arrangement fees aimed at first-time buyers and remortgage customers.The range offers a two year discount of 2.05 per cent, giving a rate of 5.69 per cent on loans up to 75 per cent loan to value. A loan up to 97 per […]

Virgin celebrates fifth birthday

Virgin Direct is celebrating its fifth anniversay with an promise to to lead the way in the personal financial services market over the next five years.With a workforce of 1000 and a customer base of 300,000 it has come a long way since it first opened its 80-strong Norwich call centre in March 1995.The company […]

Company law change set to benefit private investors

The Government is set to review longstanding company laws which could pave the way for private investors to receive constant updates on firms&#39 results online. The proposal is part of a wider review of company law and could see Britain&#39s 16 million private investors receive company results on the internet or by e-mail in tandem […]

Small company stakeholder exclusion good news for advisers

The Government has created an enormous business opportunity for IFAs by excluding smaller firms with less than five employees from stakeholder pensions according to Scottish Equitable.This is because new Government rules on stakeholder exempt employers with under five staff from providing stakeholder.The life office says these firms make up nearly two-thirds of UK employers and […]

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Fit for Work: guidance for employers published

On Friday, the Department for Work and Pensions published its guidance for employers on using the new Fit for Work (FfW) service to help ill employees return to the workplace. It also includes more details on the tax exemption for medical interventions that commenced on 1 January 2015.


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