2016 Finance Guide

Smart Finances 2016 – The Guide

As 2015 draws to a close, you’ll be thinking about Christmas, family and festivities. But at Active Brokers we’re already focused on how we can help you make 2016 a financially smart year for you. Our expert in-house advisers have drawn up these brilliant finance tips for 2016 so that you know how to save money and get the right cover for you going forward.

Below we’ve outlined the main questions you should be asking yourself as we head into the new year, and the answers that will tell you just how to save mountains of money each month.

Paying too much for Life Insurance?

Your life insurance is vital to having peace of mind for the future of your family. As such it’s important that you make sure you’ve got the right cover in place… and you could save yourself a lot of money from doing so! Here’s why you could save yourself money in 2016 by reviewing your policy:

  • Gender Equality Rules: if you took out your insurance policy before 2012 then you could find that you’re paying a lot more than you need for your cover. This is down to new gender equality rules which brought down the prices of men’s insurance policies.
  • No Nicotine: if you’ve finally been able to kick the habit and give up smoking for 12 months, then review your life insurance policy to find out how much you could be saving. Smokers always pay higher rates. Give up all nicotine products for 12 months to save money!
  • Medical Problems: if the last time you applied for life insurance you had any rating from a medical condition, and it’s been many years since then with no other medical problems, then you could find that you can get the same cover for less cost if you review your policy.
  • Less Dependants: it’s been a while, maybe your kids have grown up (or maybe you have more), so it’s time to review your policy. You might be paying for a lot of extra cover that you simply do not need any more.
  • Reduced/New Mortgage: often life insurance is taken out to cover the cost of the mortgage if you were ever to pass away, as your mortgage reduces, so should your Life Insurance cover. Review your policy to check they’re falling in-line and you’re not paying for cover you don’t need.

Over a quarter of our customers are now in a better position after we’ve reviewed their Life Insurance policy for them.*

We helped 36% of our Life Insurance customers to find the right Critical Illness policy for them, too.*

Are you covered from any Christmas Debts?

Christmas time is the time of year when you’re encouraged to spend spend spend on family, friends and all the trimmings… even if it won’t quite fit into your budget right now.

Statistics from last years Christmas and New Year show that personal debt had soared to the highest level in seven years, with 1 in 8 British people suffering a ‘financial hangover’ in the new year. This is from taking on too many loans from credit cards, payday loans and personal loans over the Christmas period to keep up with the consumer trends and get the ‘perfect’ Christmas ready for friends and family.

A few tips for how you can tackle this problem in 2016:

  1. Start planning for next Christmas now, while the failures and successes of this year are still in your mind. Learn from your mistakes and start saving early.
  2. Shop around for the things you are buying now: don’t always stick to the same shops or brands. Look for quality with a good price.
  3. Plan for the everyday bills first – make sure you can keep up the rent or mortgage, gas and electric bills etc. so that you don’t have to worry about the essentials when it comes to the new year.
travel insurance guide

Active Brokers can arrange your Travel Insurance for 2016

Sorted your 2016 Travel Insurance?

Get annual cover now! By sorting out your travel insurance now at the end of 2015 and the beginning of 2016 you know that you’ll be able to go the whole year worry-free when you and your family are travelling abroad.

Are you aware of the exclusions on your bank’s Travel Insurance? Most won’t cover you for any accidents that happen on balconies, or while drinking alcohol on holiday. Furthermore, a lot of your holiday past times such as skiing, snowboarding, and scuba diving are considered hazardous sports by insurers. You’ll need to make sure that you’re covered fully for the right things – do not rely on what your bank will provide, always read the details and get the best cover available for your holiday.

Active Brokers can now offer you Travel Insurance. Whether you’re looking for annual cover, single cover for one off trips, or planned frequent business trips abroad, Active Brokers can help. Give us a call.

Is your Income Covered?

If you don’t already have income protection in place, why not?! Income Protection Insurance is available to help keep you financially secure if you ever found yourself unable to work. This includes all sorts of accidents and illnesses, allowing you to have peace of mind that if you were to be unfit for work in the upcoming year, you won’t fall behind on your bills or build up a debt.

This could save you money over the next few years, and allows you to live comfortably even if you find yourself being unable to work. Having this security there while you’re recovering will be the best gift you could even give yourself and your family this Christmas.

Are you on a Standard Variable Rate Mortgage?

A standard variable rate mortgage is a mortgage at the default rate; it comes without any extra deals or discounts that you could be taking advantage of. Not only is there that, but it also leaves you with little security for the future. The rate can be increased at any time, out of your control, leaving you extra vulnerable if you’re already on a tight budget.

Remortgaging or ‘porting’ your mortgage might be the answer. Whether you’re just looking to save some money, move home or buy your first property, make sure you’re being money efficient. Mortgage brokers are invaluable when it comes to making sure you have the right deal.

If you want to take action on any of the above to save yourself money in 2016, then give us a call or contact us via our website. We are always happy to help

*from a review of 169 existing customers over 7 weeks. Accurate as of Dec 2015

 

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