Social Care Review Welcomed By Saga

Published: 7/7/2009

The decision by Gordon Brown to review the state of social care in order to make them more affordable and fairer for everyone has been welcomed by Saga Insurance.

The insurer has asked for steps to be taken as quickly as possible to help those who need it but also advises people to take independent financial advice in the meantime to ensure they make the best decision. Saga Insurance research shows that the typical cost of a 4 year care home stay is expected to almost double in the next twenty years, from GBP112,000 to GBP223,000.

A Saga Insurance spokesman said that it was vital to get professional financial advice since it could help inheritances be protected rather than seeing it all eaten up in care fees as is currently the case.

More information about Saga Insurance can be found within Moneygossip.co.uk.

Changes To Alliance and Leicester Bonds Announced

Alliance and Leicester fixed rate bonds have enjoyed some interest rate changes, with the one year fixed rate product going up from 6.5 percent to 6.65 percent AER. All the fixed rate bonds provided by Alliance and Leicester will payout on a monthly basis should that be preferable to the customer, with the balance invested needing to be between GBP2,500 and GBP2 million to be eligible for monthly payments. The minimum amount needed to invest in one of these bonds is GBP1,000. The benefit of fixed rate bonds is the security of the capital invested as well as there being a set, guaranteed, return said an Alliance and Leicester spokesman. This means customers know exactly what they will receive back from their investment, enabling them to plan more effectively.

Disposable Income Greatest In Wales

A recent Legal and General survey has shown that the Welsh are the most likely to have money left at the end of the month after covering bills and essential payments. Two thirds of people in Wales had money left over, compared with a national average of 53 percent and a surprising 43 percent in London. These findings really turn the general understanding of where the money is on its head. Although the cost of living in London is high it has always been thought that wages covered this difference with some to spare, but perhaps not. A Legal and General spokesman felt the findings should prompt consumers to start putting some money aside into a savings account or something similar. Having disposable income does not mean it has to be spent straight away, saving some can make a massive difference to the future.

New Investment Bonds Issued By Abbey

The Abbey National has just issued a new range of investment bonds, catering for children, the over fiftys and those seeking a safe, fixed rate home for their money. The Abbey National childrens savings bond is valid for those under 18 and offers a guaranteed 5.3 percent interest rate gross per annum, with an investment period of four years. Meanwhile, at the other end of the age scale, the over 50s will pay interest either annually or monthly to best suit investor circumstances, at a rate of 5.3 percent annual or 5.18 percent monthly. Finally, the fixed rate bond from the Abbey National is available as a one, two or three year product. Assuming an investment amount of less than GBP50,000 the gross returns are 5.7, 5.2 and 5.1 percent respectively. For the one year bond an investment of GBP50,000 or more would provide a 6 percent return.

Social Care Review Welcomed By Saga

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Changes To Alliance and Leicester Bonds Announced

Disposable Income Greatest In Wales

New Investment Bonds Issued By Abbey