PMI customers can enjoy hefty discounts by staying fit
September 20, 2007 by admin
Filed under News, News-Insurance
A recent report has shown that there has been a rise in the number of people taking out private medical insurance this year compared to last year.
The rise of around 1.5% is thought to be because many PMI providers are offering huge discounts to those that are prepared to try and stay fit and healthy, which means that many consumers can enjoy far lower premiums. In the past the level of interest in this type of cover had fallen due to increased costs on premiums.
Some PMI providers are now offering discounts of up to 75% to consumers that have no serious health problems, do not smoke, go to the gym, and lead a healthy lifestyle, as these factors all reduce the risk of claims. In addition, many PMI providers are now also offering no claims discounts to consumers, much in the same way as car insurance companies do, and in some cases these discounts can be transferred if the consumers switches provider.
In some cases insurance companies are allowing consumers to pay larger excesses, which helps to keep the cost of premiums down further. One industry official stated: ‘We found many people were prepared to pay a much higher excess in return for lower monthly premiums. This is especially true of the elderly, who often have more savings in place than younger policyholders. It gives customers more options.’
In addition to leading healthier lifestyles and paying higher excesses, consumers that want to enjoy the protection of private medical insurance should also shop around for the most competitive deals, as this can also help to ensure that the cost of cover is kept down. One official stated: ‘Savings can be made by switching insurer to a more competitive policy, even for the over-60s. The advantage of many of the policies offered by smaller companies is that premiums do not rise so sharply. This is because they have fewer claims.’
Tom Smith
20th September 2007
Veggies can now get great deal on life insurance
September 19, 2007 by admin
Filed under News, News-Insurance
Life insurance premiums can vary from one insurance company to another, but the cost of premiums is based upon your circumstances, medical history, and lifestyle.
In the past, we have all learned that those that smoke, those that are morbidly overweight, and those with certain medical conditions will pay more for life insurance because it makes them high risk. Healthy individuals that do not smoke, do not drink to excess, and are not overweight, however, can enjoy lower premiums.
There is now an insurance policy that takes it one step further, and offers discounted premiums to those that do not eat meat. Vegetarians and those that eat only fish and no meat can enjoy lower premiums with the life insurance cover that is available through Animal Friends Insurance. The company, which is a non-profit organization that deals with pet insurance, has got together with Liverpool Victoria in order to offer the special life insurance deal.
According to the company there are around 3.5 million people in the UK that are either vegetarian already or are planning to give up meat in the next year or so. The term life insurance on offer from Animal Friends and Liverpool Victoria will offer a 6% discount on premiums to vegetarians and fish eaters.
One official from the company stated: “The risk of vegetarians suffering from some cancers is reduced by up to 40 percent and from heart disease by up to 30 percent, but despite this they have to pay the same life insurance premiums as meat eaters. We believe this is unfair and the life insurance industry needs to acknowledge the fact that being a vegetarian can have a very positive impact on life expectancy and reduce premiums accordingly.”
Tom Smith
19th September 2007
