|
|
|
Finance Tips
Here are some useful finance tips to get you started on the right path to your finance success. Knowing how to secure your financial well-being is one of the most important things you'll ever need in life. You don't have to be a genius to do it. You...
His And Her Finances
It’s difficult to learn how to manage finances together when you’ve been managing your finances on you own, for better or worse, up until now. But when you become part of a couple, many things change, and your finances are no exception! Some couples...
How to Select the Best Factoring Finance Company for your Business
What is factoring?
Factoring is an innovative method of business financing that allows clients to get an accelerated payment on their slow paying invoices. Traditionally, when a company offers its services to another business, they...
Refinance Your Mortgage - You Could Save Thousands Or More Dollars Over Time
There has never been a better time to refinance your mortgage.
Interest rates are at all time low levels and you could
potentially save tens of thousands of dollars over the life of
your loan when you refinance at a lower interest rate. Keep...
Second Mortgage/Home Equity vs. Refinance
Why should you take out a second mortgage or a home equity line
of credit instead of refinancing?
Well,.........You Shouldn't!!
Why Not?
1. Second Mortgages usually have an interest rant that is twice
or even three times as high as...
|
|
| |
|
|
|
|
|
|
Sisters are insuring themselves: how finance is the new feminism
According to a study by LifeSearch, the number of women in the UK buying life insurance in the UK has doubled over the last six years. As women are increasingly closing the gender related pay gap and even becoming the main breadwinners in a household, they are also becoming more vigilant about their finances and less financially dependent on their partners.
Linda Tyson, a policy advisor for LifeSearch stated that the increase was attributed to the “growing awareness of the importance of protecting the financial stability of the family. More and more women are either the main or only breadwinner and are realising the importance of protecting their incomes.”
An additional advantage for women is upon applying for cover, they pay less in premiums than men, which is additional money to save, invest or spend on holiday with the girls. This reduction in premiums is based on the fact that women live an additional seven years longer than men. Insurance companies deem men a greater insurance risk when it comes to life insurance. In general, a woman pays 25% to 35% less than a man.
The most cost effective way to buy life insurance is term cover, which allows for a lump sum to be paid out over a given period upon the death of the policy holder. The lump sum will protect the partner or family and the extent of the cover will vary on how
much the policy holder wishes to invest and length of time over which they wish to invest it.
Alternatively, there is the option of whole-of-life insurance, in which case a lump sum will be paid out upon the death of the policy holder – whenever that happens. Given that the payout is guaranteed, the premiums for this type of life insurance are much higher, although women still pay less than men.
Websites such as moneynet provide an easy method for women to review different life insurance policies, the risks and associated costs and given that the ratio of male to female web users is almost 50:50, it’s not surprising that women have the web (and their finances) under their thumb.
Resources
Channel 4 Money
Life Insurance
Life insurance and women
About the Author
Rachel writes for the personal finance blog Cashzilla: a wee bit of banter on finance related issues.
Web: http://www.cashzilla.co.uk
E-mail: rachel@positiveinterest.com
Phone: 0131 561 2251
|
|
|
|
|
|