Consumers fail to understand benefits of annuities

Retirement Advantage is warning that despite the renewed popularity of annuities following the introduction of pension freedoms, out-of-date myths about the product continue to abound.  The company is urging people to get professional financial advice before making any decisions about their pensions. Andrew Tully, pensions technical director at Retirement Advantage, commented: ‘The pension changes have […]

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New generation of travellers demand digital insurance services

International travel insurance provider, Allianz Global Assistance UK, is changing traditional insurance practices to ensure a simple ‘right first time’ claim submission and speedy payment.  The company has enhanced its digital system to improve how travel insurance claims are made, after it found that 1 in 3 claims did not include the right documentation when […]

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Poor password security leaves people open to cyber crime

A third (30%) of UK adults have admitted to using something personal, such as their date of birth, maiden name or home address to create their password, much of which is easily accessible online. Almost half (44%) said they rarely or never change their online password – further increasing the risk. The findings also show […]

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Holidaymakers missing out on valuable cover by arranging travel policies at last minute

As summer holiday season approaches, experts from Gocompare.com travel insurance are warning holidaymakers not to leave arranging their travel insurance to the last minute or risk losing their holiday costs if they have to cancel their trip. According to research based on their own customer data, more than half (56%) of the holiday makers who […]

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British travellers set to spend over £100 million on excess baggage charges this summer

research by Tesco Travel Insurance has found that British travellers are set to pay out £112m to airlines in excess baggage charges this summer. The research found that over packing is rife, with just over 3 million passengers expected to go over their baggage allowance and many checking in more than one bag for their […]

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Holiday makers urged to check travel insurance details before jetting off

Failing to read the small print on travel insurance policies could leave holidaymakers out of pocket and at risk. A study of over 700 travel insurance products by Comparethemarket found that restrictions and exclusions on many policies can leave customers unprotected if something goes wrong. Nearly half (45%) of products only offer cover for cancellation of […]

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Britain is a nation of improvers, not movers

New research released by Zopa shows Brits are renovating their properties to create their dream home for the long-term, with over two thirds (67 per cent) of people undertaking renovations saying they plan to stay in their property for five years or more. Far from viewing their homes as just a financial investment, Brits are […]

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Energy bill mistakes leave consumers £270m out of pocket

Nearly four million energy consumers were overcharged a total of £270 million or £72 each due to billing mistakes by suppliers in the last year, according to new research from uSwitch. Over a third (36%) of those whose supplier had made a mistake said the wrong tariff or product details had been applied. Other blunders […]

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People unlikely to use pension to pay £500 for advice

Almost two thirds (62%) of the over 50s say they would be unlikely to take advantage of the suggestion from a recent government proposal to allow people to use their pension savings to pay for advice, according to new research from Retirement Advantage1. The research also finds that people who are not planning to use […]

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Rising bills continue to put the pressure on household finances

Brits’ budgets continue to feel the squeeze, with regular household bills having increased by 20 per cent since 2007, according to the Bacs Bill Tracker. The Tracker, created by Bacs Payment Schemes Limited (Bacs), the people behind Direct Debit in the UK, shows that by the end of Q1 2016 the average amount paid out […]

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