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UK consumers could save £900 on life cover says Charcol

UK consumers could be wasting as much as £106m a year by not shopping around for the best rate on their life cover according to Charcol.

By using an IFA to track down the best value rate rather than going direct, individuals can save as much as £900 each over the lifetime of a policy Charcol says.

Research from Charcol shows the most expensive rate for a 30 year old male non-smoker looking to insure himself for £100,000 over a 25 year period is from Abbey National at a cost of £11.44 a month.

This is 27 per cent more expensive and costs £927 more over the 25 year term than the cheapest rate when going through Charcol which is from Norwich Union and costs £8.69 a month.


Preferred Mortgages expands

Specialist lender Preferred Mortgages has made four new appointments as part of an growth policy that has also seen it expand its head office.Peter Else joins as servicing manager from Bank of Ireland mortgages where he was head of mortgage administration. Sharon Ault becomes head of human resources after 27 years with Lloyds TSB. Cate […]

New Sipp administrator for Scotland

A new specialist Sipp administration service has been set up in Glasgow to focus on Sipp administration across Scotland.The @sipp plc plan will be sold through IFAs and plans to offer online services by early 2003.The @sipp plc team is headed by joint vice-chairmen Tom Craig, who is also chairman of specialist management company Craig […]

Royal London and Mortgage 2000 link up

Royal London has chosen sourcing company Mortgage 2000 to provide an online electronic trading platform for its tied salesforce advisers as part of a strategy to offer a full range of financial products. This follows a pilot of the service in London since April. Mortgage 2000 will offer sourcing and illustration facilities and an electronic […]

IFAs too risky for credit merchant facilities, say banks

IFAs have attacked three high-street banks for their reluctance to offer credit card merchant facilities to advisers, who they claim are a high director Ashley Clark&#39s application for a merchant account was refused by Barclays, HSBC and Natwest/Royal Bank of Scotland although it is now being considered positively by Lloyds TSB.Clark says credit card […]

Is three a crowd?

The pension versus Isa debate has raged on and off for years. Les Cameron, head of technical at Prudential, asks if three’s a crowd.   I think the debate was arguably settled by pensions freedom when the biggest downside of pensions – limited access and poor death benefits – was fundamentally changed. Total access, albeit with […]


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