Debt 'has become more acceptable' - Published:02/01/08
touching accounts from one bank to another is "easy", according to the British Bankers' AssociationThe value of Christmas presents can "significantly" have an effect on home contents insurance, warns NFU MutualAxa is launching My Budget Day on November 21st in an effort to give confidence people to take control of their financesAccording to the Consumer Credit Counselling Service, this rise in receipt may be partly attributable to the increased number of people attending institution of higher educationA spokesman for the charity says it is "almost not possible" to go to university and not come out with some debt"Once people are used to the idea of money owing then its easier for them in the future, to take up credit cards and personal loans, because the stigma has already been removed by captivating out student loans during university," he explainedHe added that budgeting and custody a tight rein on outgoings are essential skills to avoid getting into money owing by overspending on credit facilitiesStudents preliminary university this year face a total.
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Were you mauled by endowment sharks? - Published:31/08/07
More than 200,000 policyholders with low-cost mortgage endowments could be owed up to £200m by cover companies in the latest twist to the misselling scandalThis is Money's Simon Moon got cash back for donation mis-selling Read about his successful claimWhen showing potential policyholders what they could wait for to get from their investments, these companies second-hand industry standard charges laid down by Lautro, the industry watchdog at the timeTheir actual charges were often much higher - sometimes double the Lautro speed - but they unsuccessful to make this clear to homebuyers The policies affected were sold between 1988 and 1995The firms named by Money Management include normal Life, Pearl, Axa, Scottish Widows, Prudential- owned Scottish Amicable, plus Scottish joint and Scottish visionary, now owned by ResolutionCompanies were taking as much as 075% a day in charges from the fund But they were enticing customers by showing prospect payouts using a 03% annual charge So, if the company assumed it would create 75% income in a year, it would show the endowment produceing by 72% when it would really produce by just 675%Standard Life has admitted that, by the lower Lautro charges, a policy-holder may have been told they wanted to pay £3624 a month to pay back a 25-year £25,500 home loan, assuming the finance grew at 75% a yearBut based on Standard Life's charges, the rule would pay £22,300 - resulting in a £3,200 deficit They would have needed to pay £4016 a month to get the £25,500Some companies, counting Axa, Legal & General and Clerical Medical, have put aside money to make high-quality these shortfalls Others, such as Standard Life, have so distant refusedStandard Life, where 80,000 policyholders could be affected, says: 'We followed all the watchdog's requirements and industry practice when producing our illustrations'Janet Walford, editor of Money organization, says: 'Some offices have salaried extra to policyholders as a goodwill sign At this stage, it is unclear whether there is a lawful obligation to pay compensation or not'I have been trying to at Standard Life for last five without success, this is another kick in the teethIn the cash organization article (P72) it states that 'neither the policyholder nor his adviser would be conscious of the problems caused by the use of LAUTRO charges A pertinent question to inquire on the topic of compensation therefore is, assuming these companies are culpable of "pre contractual misrepresentations and a breach of contractual guarantee", what is the position of an IFA who has already been forced to disburse compensation to a policyholder based on projected shortfall information that are compounded by these illicit misrepresentations Shouldn't the cover companies also be forced to compensate IFA's where this is proven to be the container If not, the watchdog, who instigated this idiot rule in the first place, could be accused of colluding with the insurance companies to unlawfully deprive IFA's of their possessionsSelect a loan term 12 months (1 day 24 months (2 years) 36 months (3 existence 48 months (4 existence 60 months (5 existence 72 months (6 existence 84 months (7 existence 96 months (8 existence 108 months (9 existence 120 months (10 years)Please select a type of cover Life cover Home and inside Car Breakdown services Health - medical Health -.
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Travel insurance a must for activity holidays, AXA advises - Published:02/11/06
Around one million Britons claimed on their travel cover for having suffered accident or wound in the last five years, according to investigateOver 13 million people will go on an activity holiday this year and 200,000 of these could be at risk, the figures suggestAXA Insurance, which provides house insurance, travel cover, pet cover, car cover, investments and pensions, conducted the survey, finding that a big number of travellers do not intend to take out journey insuranceAround two million, or 16 per cent of those planning to take an adventure holiday, do not plan on having a travel insurance rule, which is divided as 20 per cent of men and 12 per cent of womenPat Brady, travel cover manager at AXA Insurance said: "At AXA we are finding that many more people are choosing to construct tailor-made holidays and plan adventure-orientated breaks but are not cover themselves against the added risks that come with them"Many people consider that nothing will happen to them and while this is the true in the majority of cases, for the sake of a few pounds to take out travel insurance, doesn’t it create sense to have peace of mind"The learn shows that young people are most at risk, as one in five 18 to 24-year-olds have sustained some form of wound while on an activity holidayAccording to new Post Office research, 22 per cent of people in this age group will not be captivating.
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