A spokesman from Norwich Union has said that the GBP2.6 billion reattribution of surplus funds is close to being resolved following previous disputes.
A representative for policyholders has been asking for changes since the reattribution of funds was biased in favour of Norwich Union shareholders and needed attention. Following this a committee from the government has been looking at the situation to ensure fairness.
Norwich Union are offering payments to with profits insurance fund policy holders but they will then not be eligible for any further annual bonuses. They are yet to hear if this latest offer is acceptable but hope it will be so that the funds can be paid out.
Post Office Insurance has just introduced a new motorbike insurance policy with an introductory offer of one month free cover.
The new motorcycle insurance policy provides several options for the customer, including cover for up to 4 bikes on the same policy or alternatively having GBP500 of accessories cover. Female motorcyclists will be very interested in the Post Office insurance policy since there is a discount offered simply for being female. Saving up to 36 percent is a good incentive to check this out.
More and more insurers are moving into the motorbike insurance market now as the market expands. There are around 1.2 million bikes on the road now, up by well over a third compared with 10 years ago. Post Office Insurance are aiming for a part of this growing market.
The credit crunch has brought with it rising prices and access to borrowing much harder than it used to be. Looking at how this impacts on UK residents the Post Office, insurance providers as well as much more, have seen the over 50 market hit the hardest.
The rise in the cost of living has meant almost two thirds of the over 70s now use credit to buy basic food and groceries. This will be in the form of credit cards or overdrafts. Meanwhile 35 percent of over 50s can no longer put savings aside regularly said the Post Office insurance against harder times in the future.
Speaking of which a Post Office insurance spokesman urged people to make sure they are paying reasonable rates for their life insurance. An essential like this can still be bought effectively and as such leave a little more money for day to day costs.