As the credit crunch adds to the strain many families are facing, Legal and General are advising people to look at financial protection products to help ease the stress.
A Legal and General spokesman highlighted the key areas that the credit crunch is impacting on, with mortgage rates on the rise, fuel and food costing much more year on year and council tax bills also eating into what are relatively unchanged incomes. If anything were to happen to those bringing the income in then the family would very quickly face difficulties.
The Legal and General view is that family protection is essential and they offer monthly income replacement cover for a defined period should the holder of the policy suffer a critical illness or pass away.
New health insurance customers at Tesco Finance will be able to include their children for free on the first 12 months cover. The offer is applicable on applications made between 29 May and 23 July 2008.
With regard to value a typical price has been calculated for Tesco Health Insurance, using as an example two parents, living in Edinburgh, aged 35 who do not smoke. With a GBP100 excess and paying monthly they and their two children can have medical insurance for just GBP47.04 on the Tesco Core policy, or GBP79.02 on the Premium option.
Taking the same family make up and moving them to London the corresponding premiums are GBP61.40 and GBP101.50. All prices are per month. A Tesco Finance spokesman was happy to be able to offer such good deals since it helps families save money during some difficult times.
Buying dental insurance can prove less expensive than relying on the NHS or a private dentist it has been claimed by Tesco Finance.
Estimating the typical six monthly check up at the dentist to cost GBP15.90 on the NHS or GBP40 privately and adding in one piece of dental work, such as a crown, Tesco Finance ran the numbers to see which option would prove best. They took the normal price of a crown as GBP194 on the NHS or GBP341 privately.
In a one year period then, with two check ups and one crown being fitted Tesco Finance calculated the total cost of NHS dental treatment to be GBP225.80, whilst a private dental practice would charge GBP421. This compares with an annual dental insurance premium of GBP107.40 using an NHS service, or GBP203.40 using a private one. Clearly there are savings of almost GBP120 to GBP150 available.
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