Life - Articles

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1 in 10 forget to remove their ex as their beneficiary

One in 10 divorcees have forgotten to remove their former spouse as the beneficiary of their life insurance policy (10%). Only 7% of people who divorced discussed life insurance beneficiaries as part of their separation and only 27% have cancelled a joint life insurance policy they had when they were married. 11% who have divorced have either delayed or forgotten to remove their ex-partner from their will.
Posted on Tuesday Mar 25

Comment on FCA study of protection products to consumers

The FCA launched a new market study into distribution of pure protection products to retail consumers to discover if competition is working in the interest of consumers.
Posted on Monday Mar 24

FCA launches study on pure protection market providing value

The FCA has launched a market study into how well the distribution of pure protection insurance products – which support families with financial commitments if someone becomes critically ill or dies – is working for consumers.
Posted on Monday Mar 24

Research highlights worrying Ovarian Cancer awareness gaps

62% of women surveyed lacked knowledge of ovarian cancer. This rises to 73% in women over 55 years. 43% thought that a smear test could diagnose ovarian cancer. Last year Aviva paid out over £6.4m in private medical insurance claims for ovarian cancer, an increase of 53% compared to 2023.
Posted on Friday Mar 21

Average life expectancy up but under pre pandemic levels

Average UK life expectancy nudged up marginally in the 2021-2023 period compared to 2020-2022, new Office for National Statistics (ONS) data shows. Life expectancy at birth in the UK during the latest period was 78.8 years for men and 82.8 years for women, while life expectancy at age 65 was 18.5 years for men and 21 years for women
Posted on Wednesday Mar 19

Over 50s forced to cut back due to cost of living crisis

71% say they are spending more on energy bills, 61% are spending more on their weekly shop and 42% on transport than a year ago as 63% admit rising costs is their biggest worry. Almost half (44%) have had to cut back on eating out and takeaways, and a third (34%) have cut back on clothes. Four in ten (38%) have spent less on days out, a quarter have cut spending on their hobbies, the gym and sports. A third have stopped giving as much to charity and one in five say they’ve had to cut back on gifts to children and grandchildren.
Posted on Wednesday Mar 19

Estimates of the very old including centenarians

Mike Ambery, Retirement Savings Director at Standard Life, part of Phoenix Group commented on the ONS’s latest figures on ‘Estimates of the very old, including centenarians,
Posted on Tuesday Mar 18

2024 hits record third quarter for private health admissions

PMI up 5% on same quarter in 2023. Record Q3 for private health admissions as employers expand insurance coverage across workplace healthcare schemes
Posted on Monday Mar 10

CMI on significant changes to mortality projections model

The Continuous Mortality Investigation (CMI) has proposed significant structural changes to the next annual update to the CMI Mortality Projections Model, CMI_2024, which is due to be released in the second quarter of 2025. For the core version of the model, those changes would lead to cohort life expectancies at age 65 that are about five weeks higher for males and about one week lower for females than in the current version of the CMI Model, CMI_2023.
Posted on Tuesday Feb 25

New data reveals gender disparity in life expectancy

Half of men celebrating their 65th birthdays this year are expected to live for nearly 21 more years while half of women reaching 65 are expected to live more than 24 years, latest official life expectancy statistics reveal.
Posted on Monday Feb 17

62 percent of employers to focus on workplace health in 2025

According to the very latest research from Towergate Employee Benefits, nearly two-thirds (62%) of employers will increase their focus on supporting the health and wellbeing of employees over the next 12 months.
Posted on Tuesday Feb 11

IPT receipts hit almost GBP7bn in Q1 to Q3 of 2024 to 2025

According to this morning’s HMRC data, Insurance Premium Tax (IPT) receipts reached £53 million in December 2024, bringing the Q3 (Oct-Dec) total for the 2024/25 financial year to £2.2 billion. This exceeds last year’s Q3 total (£2.1 billion) by 5% or £101 million.
Posted on Wednesday Jan 22

Holidaymakers delay medical treatment until after their trip

16% of holidaymakers admit they’ve previously injured themselves or fallen ill abroad, but waited to seek medical assistance once they were home. 13% confirm this is due to not purchasing travel insurance. To help ensure Brits stay protected, Tesco Insurance is offering holidaymakers with a Tesco Clubcard 20% off their annual multi trip policies until 31st January
Posted on Tuesday Jan 21

Ahead of Blue Monday latest mental health figures released

Ahead of Blue Monday, GRiD has released figures showing that, over the past decade, mental health conditions have been either the first or second highest cause of claim by employees on work-sponsored group income protection (GIP) policies. Accordingly, in 2023 (latest data available), 22% of GIP claims were for mental illness which was just shy of the 24% for cancer - the most claimed-for condition on GIP last year.
Posted on Friday Jan 17

Record low death rates in 2024

The Continuous Mortality Investigation (CMI) publishes frequent mortality analysis for England & Wales through its mortality monitors. This update covers the period to 3 January 2025 and in particular, sets out results for the whole of 2024.
Posted on Thursday Jan 16

Social care plan to drive 4 more years of paralysis

Stephen Lowe, group communications director at retirement specialist Just Group, following the announcement from Wes Streeting of a new four-year independent review into social care.
Posted on Monday Jan 6

Reaction to latest Government review of social care funding

Social care and its funding is one of society’s greatest intergenerational challenges. Millions crying out for clarity on care costs. Fair sharing of costs between state and individuals likely to require tax rises
Posted on Friday Jan 3

IPT receipts hit over GBP1 billion in November 2024

According to this morning’s HMRC data, Insurance Premium Tax (IPT) receipts reached £1.2 billion in November 2024, bringing the eight-month 2024/25 total to £6.65 billion. The total IPT revenue now exceeds last year’s eighth-month total for the 2024/25 tax year (£6.02 billion) by 10.4% or £627 million.
Posted on Friday Dec 20

Healthy life expectancy data hint at post pandemic recovery

New figures published last week by ONS show Healthy Life Expectancy for younger age groups is lower than a decade ago although older ages have seen a slight increase.
Posted on Wednesday Dec 18

Treatments through PMI hit record in first half of the year

Over seven in 10 of all private health treatments are now being funded via PMI. Record H1 in 2024 for PMI-funded health admissions as employers expand coverage to healthcare schemes.
Posted on Thursday Dec 12

Significant growth opportunity for mutual life insurance

Broadstone has launched a new Report – The Mutual Impact – highlighting the “significant growth opportunity” for the mutual life insurance sector given their ability to support customers in an uncertain economic backdrop.
Posted on Monday Dec 9

Life claims a balance of risk

Momentum is building for beneficiary nomination as an alternative to trusts, the latest joint report from Swiss Re and Insuring Change shows.
Posted on Tuesday Nov 12

Younger men making positive progress regarding mental health

Around three quarters of Gen Z men (76%) would speak to someone about their own mental health. Gen Z men are engaging more with digital support and social prescribing than turning to medication like anti-depressants.
Posted on Thursday Nov 7

Over two fifths of adults have not written a will

Research from Canada Life reveals the UK cities with the highest proportion of adults who do not have a will in place. Adults in Leeds are least prepared with 57% not having written a will, whereas in Brighton just 36% of people do not have a will in place. Less than half (49%) of UK adults have discussed their end-of-life wishes with their loved ones
Posted on Thursday Nov 7

Shocking statistics reveal lack of income protection take up

A new survey from the income protection experts at Shepherds Friendly has revealed shocking statistics into the lack of income protection take up in the UK. Only 14% of Brits have income protection. Men are more likely to take out income protection compared to women (17% vs 11%). 29% of Brits without income protection regret not taking out a policy.
Posted on Tuesday Nov 5