The first step in claiming back mis-sold payment protection insurance (PPI) is always to complain to the firm who sold you the policy. Many people do this via a claims management company who specialise in claiming back mis-sold PPI.

If the firm rejects your complaint, or makes you a compensation offer you are not satisfied with, you can refer the complaint to the Financial Ombudsman Service (FOS). The FOS has experience of investigating hundreds of thousands of PPI complaints, and is an independent body set up by Parliament to rule on complaints involving financial services organisations where the complainant and the organisation cannot reach an agreement. The FOS can only get involved if you have complained to the firm who sold the policy first.

You will need to complete the FOS PPI consumer questionnaire. This is an eleven page form which includes questions about when the PPI was sold, why it was sold, your personal circumstances at the time and why you feel you have grounds for complaint. If you … Read the rest

The cost of vehicle insurance has shot up considerably in the last 12 months, and so has the fleet insurance. Commercial motor vehicle fleet managers have been bombarded with the rise in fleet insurance over the last four years.  The following tips, if applied, can help reduce your fleet insurance premiums.

Choose the right fleet

It goes without saying that someone managing an old fleet of vehicles will spend more in insurance premiums than someone managing a new fleet. Newer vehicles are more fuel efficient, break down less and thus need fewer repairs. Moreover, most have up-to-date security systems and in-car navigation systems that are all invaluable in cost saving. It is also cheaper to install vehicle trackers, alarms and immobilisers all which are important in reducing your insurance premiums.

Pay for multiple policies

If an insurer is offering different covers as a package with your fleet insurance, you could take a run for it.  Certain companies that offer fleet insurance services, for example, have public and employee liability … Read the rest

When purchasing life insurance, you will have to decide whether to purchase term or permanent life cover. Sometimes, you can even purchase a combination of both. However, understanding the differences and workings of the policy will help you know which one will be best for you. Below is an overview of the policies:

Term Life Insurance Policy

With a term life policy, a benefit is only paid if the policyholder dies. The policy can be taken for a number of years (terms), usually 10, 20 and 30-year terms. If you live past the term of the policy, neither you nor the beneficiaries you had designated get any money.

Benefits of Term Life insurance

Term life is the most basic insurance policy and is typically cheaper when the risk of death is low. The premium charged for a cover increases with the age of the policyholder and increasing risks. For most people, term life insurance is the best option since it allows one to choose the length or term and amount … Read the rest

After you are involved in an accident, you can file a claim to get compensated. There are a number of things you should do at the car accident site to protect your rights and improve your chances of getting compensated. You should inform your insurance company as soon as possible and start the claims processing. When you report the accident, the insurance company will assign an adjuster to deal with your claims. The adjuster may contact you through email or phone to discuss the accident.

The adjuster may investigate the accident to determine whether you had any role to play. If you are partly responsible for the accident, your settlement may not be as large as you expect. Whether or not you had a hand to play in the accident, it’s advisable to contact an accident attorney to help you. An experienced lawyer will gather evidence from different quarters to ensure the insurance company will provide the best compensation based on the circumstances of your case.

When the adjuster is … Read the rest

When you retire, one of the things you will have to address is what will happen when you pass on. While no one would wish to pass on, the reality is that death is inevitable. When death happens, loved ones are usually left with emotional pain and heartache because of losing someone. However, if you are the breadwinner of the family, the pain will extend beyond emotional to touch on finances.

The best gift you can leave your family when you are gone is a secure financial future. One of the expenses that you family will have to contend with is arranging for your funeral. Funeral arrangements are usually expensive and can drain the financial resources of the family. You can however ensure that your family does not suffer by taking a funeral insurance plan early in your life.

What is Funeral Plan Insurance?

A funeral insurance plan is a cover that is meant to relieve your loved ones of the financial constraints that come with having to arrange a … Read the rest