View more on these topics

Ensure families are taken care of

As reality TV star Jade Goody faces the tragic realisation that she has terminal cancer, her main focus is on her children who now face a future without their mother.

With the time she has left, Jade has decided to raise as much money as she can to secure her children’s future and the money she earns will be put into a trust fund for her sons.

The point this raises is how can we safeguard our family’s future? What steps can we put in place to make sure that if the worst happens, our loved ones will still be able to pay the mortgage and maintain a certain standard of living?

While most of us won’t find ourselves in a situation where we can sell our story to make money, we can safeguard our family’s financial future by ensuring that we have the right protection cover in place.

Protection products such as critical illness cover will ensure that money is available to either pay off the outstanding mortgage or at least to meet the monthly payments.

Discuss with your clients their protection needs and remind them that protection products don’t just pay out lump sums or income.

Some include features that are designed to complement the financial benefits of insurance.

Also, services such as Helping Hand can provide emotional and practical support at a time when money alone isn’t always enough to get you though the painful time.

Recommended

Alliance & Leicester reduces rates

Alliance & Leicester is reducing its rates by up to 0.2% and the fees by £300 on its two, three and five-year fixed rates from today.

Arrears on sub-prime mortgages hit record high

Arrears on sub-prime mortgage loans in the UK hit a record high of 28.6% for Q4 last year, research from Standard & Poor’s shows.The Q4 report from S&P Ratings Services reveals that the comparative figure for Q3 was 25.1%.Outstanding arrears over 90 days are now at 12.5%, up from 10.3% the previous quarter.Repossession cases have […]

Business-to-business news in brief

  • HSBC launched a two-year fixed rate mortgage at 2.99% as it revealed that its mortgage application requests doubled in February compared with January 2009. The bank is also offering two new longer term fixed mortgages – a five-year deal at 3.99% and a 10-year loan at 4.98%. Martijn van der Heijden, head of mortgages at HSBC, said: “The feedback we have received from our customers is that the majority want to lock into today’s historically low interest rates.”
  • Qatar cover image - thumbnail

    White paper — Qatar International Insights

    Jelf Employee Benefits highlights new legislation, key requirements and policy considerations when structuring international private medical insurance (IPMI) for expatriate employees in Qatar. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Qatar.

    Newsletter

    News and expert analysis straight to your inbox

    Sign up