Experts have predicted that, due to the new rulings from the European Court of Justice (ECJ) and the changes to British taxation of Insurers, thousands of pounds could be added on to the cost of long term life insurance and critical illness covers. Motor Insurance has also been predicted to increase by more that £300 million a year. This is because the European Court of Justice has decided that the Sex of an applicant should not alter the price in any way. For many years now the price of life insurance has been going down and women have received cheaper policies as statistically they live longer then men. This is why women are set to be the biggest loser in this insurance shake up.
These new rules will be implemented from Friday December 21st 2012. If you purchase insurance before then, the contract will not be altered so it makes sense that for people who want insurance – to consider doing this now!
A spokesman has claimed that “We could very easily see significantly double digit percentage increases in the cost of life cover and critical illness rates for both men and women. If you were able to avoid a 25% increase by paying £200 per month instead of £250 per month on a 10 year policy, you would save £6000.”
At Refresh Money, our highly trained and experienced advisor’s do the work for you. We ask you a few simple questions and then call you back once we have found the best policy to suit your needs and circumstances. We can also offer you free help and advice with your policy.
We are in hard financial times at the moment and everybody is out to save some money. Shopping around for quotes does not only ensure you get the best value for money, but it can also ensure you have the right level of cover. So phone today on 028 417 52062 to see what we could save you!