What is on offer
Article Abstract:
There are two types of savings plans for long-term care in the United Kingdom, plans for immediate care, and pre-funded insurance. Immediate care plans are a type of annuity paying a guaranteed income at a better rate than normal annuities since they are geared to people whose health is poor. Pre-funded plans are complex and tend to be expensive, and there may be particular problems with certain types of pre-funded plans, such as those which pay level benefits that may not meet costs if those costs increase. There are also plans that are similar to term assurance which pay costs, but do not offer benefits if the insured does not need to use the policy.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
A friend in sickness
Article Abstract:
United Kingdom friendly societies offer permanent health insurance (PHI) which can be good value. Many friendly societies were established at the start of the 20th century and specialised in such policies. Premiums from other insurers may initially appear cheaper but the cost may be more over the longer term. Friendly societies can also offer immediate benefits which may be especially useful for the self-employed. Benefits may vary according to the length of the illness, and be lower after a set period.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Ways to buy your way out of trouble
Article Abstract:
Income protection insurance is available to provide aid in times of sickness, and it may be especially useful for the self-employed and those with little protection from employers. Products are complex, however, and rates are often difficult to compare. A longer deferred period means that the insurance is cheaper. The policies only pay up to a maximum of 75% of the income of the insured person, so cover for for than this amount is wasted.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: No reins on recovery. Banking/finance. Mind the gap
- Abstracts: Fighting for pension cash. Minimum interest
- Abstracts: Who's afraid of the big bad Woolf? Joining the party. Voyages of discovery
- Abstracts: Look to sterling for a rough guide to UK inflation rates. The old lady's pounding headache