A report in today's Daily Telegraph claims that UK banks are skimming off an estimated total of £7 billion from consumer bank accounts.
The skimming is caused by a range of unecessary fees and hidden charges, making it very difficult for a UK investor to match stock market growth.
To read the full article, click on the post title above.
31 July 2010
26 July 2010
Payment Protection Market Takes a Turn
I have noticed an interesting turn in the payment protection market. This market includes search terms such as payment protection, income protection, mortgage payment protection and abbreviations such as MPPI (mortgage payment protection insurance) and PPI.
Until recently the paid search results were dominated by companies actually selling payment protection. Recently, however, I have noticed a growing market for people advertising their services over the issue of payment protection insurance. I assume that many of these advertisers are offering a reclaim service and will take a cut of any refunds secured. It seems the banks, mortgage companies, building societies and insurance companies over sold the benefits of payment protection to unsuspecting customers.
Payment protection is inherently high risk. People will only take out a policy if they feel they are at some form of enhanced risk, such as redundancy. Indeed, the demand for this type of policy has been growing as public sector workers feel they may well be victims of the new coalition government's spending cuts. If an employee believes he ot she is at risk of redundancy at the time of taking out the policy they must disclose the material facts. Or otherwise their policy is invalidated. Unfortunately, invalidation is often the case. So you can see why policy holders may well claim that they have been missold.
Until recently the paid search results were dominated by companies actually selling payment protection. Recently, however, I have noticed a growing market for people advertising their services over the issue of payment protection insurance. I assume that many of these advertisers are offering a reclaim service and will take a cut of any refunds secured. It seems the banks, mortgage companies, building societies and insurance companies over sold the benefits of payment protection to unsuspecting customers.
Payment protection is inherently high risk. People will only take out a policy if they feel they are at some form of enhanced risk, such as redundancy. Indeed, the demand for this type of policy has been growing as public sector workers feel they may well be victims of the new coalition government's spending cuts. If an employee believes he ot she is at risk of redundancy at the time of taking out the policy they must disclose the material facts. Or otherwise their policy is invalidated. Unfortunately, invalidation is often the case. So you can see why policy holders may well claim that they have been missold.
New Family Dental Insurance Website
The I Want Dental Cover website is now live. The I Want website offers an online family dental insurance product.Apart from lower prices for dental insurance, a key selling point is the speed and convenience of the Quick Quote process.
Dental cover options are availabe for both private dentist and NHS dentist services.
Most UK dental insurance is sold through dentists or major insurance operations such as Simply Health or Tesco. I Want Dental Cover is backed by insurance industry specialists with experience of direct to customer insurance products.
As an online only product, I Want aims to undercut competitors on price and deliver a more customer friendly service.
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