Inflation: Are we looking at goods times or more bad times?

With inflation sitting at it’s lowest in a decade and half (1.5% below the Bank of England’s target of 2%) and now finally below wage increases; are we set to see an end to the longest economic squeeze since Victorian times?  Lets examine the evidence:

We are already seeing a significant fall in oil prices, now approaching their lowest since records began in 1989, and in all likelihood inflation will probably follow.  Capital Economics have suggested that the average household is set to benefit around £455 per year just in the fall of oil prices alone.

We are also likely to see a “tax cut” in other areas over the next coming months and with low inflation and rises in wages this means our pockets are going to be a little fuller than they have been over the last couple of years.

But low inflation and falling prices are only good in the short term.  Over the long term, Economists have concerns that we may see ‘bad inflation’ similar to that witnessed in the US in the 1930s when inflation continued to fall with wages following shortly afterwards.  This kind of ‘bad inflation’ last longer, has weaker growth and therefore takes longer for the economy to recover.

There are already concerns that this is already starting to evidence itself in Europe (not including the fall in oil prices), particularly in Greece.  In an attempt to prevent this, European Central Bank is set to begin quantitative easing in the coming months and with this carries risk and unpredictability.

So whilst in the short term we are expecting to see cheaper prices, increases to wages and an overall improvement in the standard of living, in the long term, however, things are still uncertain for the time being.

Income Protection if you have to become a Carer

Income Protection if you have to become a Carer

Most people consider protecting their income if they become unable to work due to their own ill health.  However, it is estimated that 3 out of 5 people will become a Carer for a relative at some point in their lives.  If this were to happen to you, could your family afford for you to give up work?  In most cases, probably not!

Friends Life have recently introduced Family Carer Benefit within their Income Protection policies.

So what does this mean?  If a child, spouse or civil partner requires full-time care you could claim up to £1,500 per month for 12 months to help cover the costs of adjusting to your new family life or having to give up your full-time job.  You don’t actually even have to give up working if this does not suit you and your family.

To find out more about Income Protection and Family Carer Benefit call us now on 01636 870 069.

One for the guys

Men, did you know that you are more likely to be diagnosed with cancer rather than suffer a heart attack or stroke?  And did you know that prostate cancer is the most common form of cancer in men?

According to Cancer Research statistics in 2011 41,736 men were diagnosed with prostate cancer with 10,837 deaths in 2012.  http://www.cancerresearchuk.org/cancer-info/cancerstats/types/prostate/

Advances in treatments and early diagnoses has led to higher survival rates with 84% of men diagnosed between 2010-2011 predicted to survive for 10 years or more but what if the worse should happen?  Does your life insurance cover early diagnoses and low-grade cancers?

More and more frequently life insurance companies are recognising the importance of early diagnoses and tweaking their policies to reflect this and make themselves stand out.  A good example is Bright Grey who have just announced an adjustment to their critical illness policy to include low grade prostate cancer.

They have decided that they will pay out 20% of your cover (up to £15,000) should you be diagnosed with a specified stage of prostate cancer.  If later, things progress for the worse and you meet their full critical illness definition, they will then pay out the full amount of your cover.

If you would like to discuss life insurance in more detail, call one of our Advisers on 01636 870 069.

Extra protection for woman

According to Cancer Research the number of woman diagnosed with cancer has risen by 43% since 1970.  In light of this, Bright Grey has added 2 new early forms of female cancer to their list of additional conditions.

This means that should you be diagnosed with Carcinoma in-situ of the cervix uteri (requiring a hysterectomy), borderline ovarian tumour (requiring the removal of an ovary) or ductal carcinoma (an early form of breast cancer) Bright Grey will pay out 20% of your cover (maximum of £15,000).  Should this then lead on to a critical illness, as per their list, you will then receive the full amount of cover.

If you would like more information about critical illness and how it could protection you and your family, contact DALES on 01636 870 069.

Why poor Walt should have seen a Financial Adviser

Why poor Walt should have seen a Financial Adviser

For those of you who haven’t seen the hit TV series Breaking Bad, the story follows Walt, a chemistry teacher who’s diagnosed with lung cancer and his radical approach to ensuring the financial security of his family on his evitable demise.

If you put Walt’s money laundering, corruption, extortion and generally becoming a criminal mastermind aside, would Walt have acted differently if he had known that he would be diagnosed with lung cancer?  He probably would have.

Obviously not counting the numerous laws he’s breaking, Walt’s real predicament is that he should have seen a Financial Adviser earlier in life and had simple family income benefit policy put in place.  This would mean that whether he was diagnosed with lung cancer or suffered a fatal accident his family would have received a lump sum pay out and/or monthly income for the rest of their dependency and his whole life of crime could have been prevented.

We are a society that is very quick to assume that we will never be diagnosed with a terminal or critical illness or be involved in a fatal accident.  But if that were to happen, what would your family do?

Life insurance is not as expensive as you think considering the consequences of not ensuring the financial security of your family, should something happen.  Why not speak to a Financial Adviser today?