Stock Market logoStock Market Station

All the stock market news, every minute updated!

19 September 2021
12:46 hour

How to apply for your National Insurance number

The Motley Fool UK

14/09/2021 - 17:32

You need a National Insurance number if you're working or about to start work in the UK. Here's how you can apply for one. The post How to apply for your National Insurance number appeared first on The Motley Fool UK.


READ THE FULL ARTICLE ON THE MOTLEY FOOL UK

Related headlines:

  1. Dispensing with physical signatures on insurance proposal forms: IRDAI extends timeline (24/03/2021 - Financial Express)
    The rule will apply to all insurance products sold by individual agents and insurance intermediaries.
    [visit article]
  2. Beware! Don’t buy motor insurance from this company; IRDAI sounds alarm (12/02/2021 - Financial Express)
    The Insurance Regulatory and Development Authority of India has issued against dealing with a Bangalore-based entity - 'Digital National Motor Insurance'.
    [visit article]
  3. How to renew your lapsed motor insurance policy (30/03/2021 - Financial Express)
    Renewing an active insurance policy, or even buying an insurance policy online, is easier than renewing a lapsed insurance policy. The option of reviving a policy starts getting limited, as the number of days the renewal has been delayed increases.
    [visit article]
  4. 21 Top Life, Health and Motor Insurance Policy Changes Every Policyholder Should Know in 2021 (28/06/2021 - Financial Express)
    National Insurance Awareness Day 2021: In the time of the pandemic, the Insurance Regulatory and Development Authority of India (IRDAI) has introduced several policies and rule changes in Life, Health and Motor cover for the benefit of policyholders
    [visit article]
  5. : ‘The sheer number of claims are extraordinary’: Texans pay a lot for insurance — but will that help them now? (22/02/2021 - Market Watch)
    'Document everything,' said Camille Garcia, director of communications and public affairs at the Insurance Council of Texas
    [visit article]
  6. How does the UK State Pension work for immigrants? (01/04/2021 - The Motley Fool UK)
    If you are planning to move to the UK, you might have some questions about the UK State Pension. Find out whether you qualify or can pay into the UK pension as a non-UK citizen or a non-UK resident. Before continuing, we’d like to point out that it might be important to look at the EU Withdrawal Agreement. It sets out the terms of the UK’s withdrawal from the EU and how it might affect you. [top_pitch] Who is entitled to the UK State Pension? You need at least 10 qualifying years of National Insurance contributions to be eligible for the UK State Pension. This means that you should have made National Insurance contributions voluntarily or through your employer for at least 10 years. However, this is not the only way to qualify. Social Security contributions you make in European Economic Area (EAA) or EU countries or Switzerland can help you qualify for the UK State Pension. Let’s assume you worked in an EAA country and paid Social Security contributions. You later move to the UK and continue to make National Insurance contributions in the UK.  When computing your State Pension, the UK’s pension authority considers your National Insurance contributions first.  If you have not reached 10 qualifying years of National Insurance contributions: the pension authority in the UK will compute your Social Security and National Insurance contributions together. This could qualify you for the UK State Pension. If you have reached 10 qualifying years of National Insurance contributions: the pension authority in the UK will still compute your Social Security and National Insurance contributions together. This could qualify you for a UK State Pension, which might be higher than the pension calculated above. You might want to look at this UK State Pension guide to get an idea of how much you can get from the State Pension. Do non-UK citizens get the State Pension? Yes, as long as they are eligible. An example is if you are an EAA, EU or Swiss citizen. If you: live in the UK; work for a UK employer; run your own business in the UK; You can make National Insurance contributions that can entitle you to the State Pension upon attaining State Pension age. If you are a third-country national (not a citizen of an EAA or EU country, Iceland, Lichtenstein, Norway or Switzerland citizen), it might be best to contact the International Pension Centre. [middle_pitch] Can a non-UK resident pay into a UK pension? Yes. Here are instances where a non-UK resident can pay into a UK pension: A non-UK resident working in the EAA, EU, Iceland, Lichtenstein, Norway or Switzerland. You need to pay social security contributions in the relevant country. However, depending on various factors and whether you are in a temporary situation, you might need to get a certificate or document from HMRC to help you to pay National Insurance contributions in the UK. A non-UK resident who lived in the UK for at least three years or made three years’ worth of contributions. In this case, you are allowed to make voluntary Class 2 National Insurance contributions to protect your State Pension. What is the EU settlement scheme? EU, EAA and Swiss nationals living in the UK before 1 January 2021 are required to apply to the EU Settlement Scheme. The scheme will help them continue residing in the UK and protect their social security rights. The deadline is 30 June 2021. “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner. But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared. What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations. And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! More reading Should I buy Royal Mail shares now that it’s paying a one-off dividend? What next for Green Homes Grant applicants? Here are my top 5 stocks as we start Q2 Announcement: Motley Fool Launches FoolStop, Endorses Spelling of ‘Stonks’ Here are 5 things I consider before buying a UK stock in my ISA The post How does the UK State Pension work for immigrants? appeared first on The Motley Fool UK.
    [visit article]
  7. National Insurance Awareness Day 2021: Why is health insurance essential at every stage of life? (28/06/2021 - Financial Express)
    In today’s fast-paced world, having an adequate health cover is one of the best ways to be financially prepared against uncertain health risks.
    [visit article]
  8. General Insurance: InsurTech firms can help build microinsurance products for all (19/07/2021 - Financial Express)
    While the need for permanent insurance cover (e.g. whole life insurance and health insurance) will always remain, people will continue to need special-purpose insurance in life.
    [visit article]
  9. Can second Covid-19 wave lead to increased penetration of health insurance in India (26/05/2021 - Financial Express)
    The way claims have been coming in for the health insurance players and burden on the insurance companies—health insurance needs some overhaul. Once this ongoing crisis diminishes one needs to look at how to secure health insurance for the family as well as how the insurance companies write the risks.
    [visit article]
  10. National Parents’ Day: Provide financial security to your parents by gifting them health insurance (25/07/2021 - Financial Express)
    In these times, it is vital to get a comprehensive senior citizen health insurance plan for your parents with a higher Sum Insured to face any medical eventuality.
    [visit article]
  11. How you can boost your State Pension (05/09/2021 - The Motley Fool UK)
    For many, the State Pension forms the backbone of their retirement plan. So, with recent figures showing that more than 2.1 million pensioners are receiving less than £100 a week in State Pension, those nearing retirement may be rightfully concerned. But worry not. Helen Morrissey, senior pension and retirement analyst at Hargreaves Lansdown, highlights things you can do to boost your State Pension. I take a look. [top_pitch] Before I continue, it’s important to note that the new State Pension rises annually by whichever is greatest of three key instruments: 2.5%, average earnings growth or inflation the triple lock. However, there are concerns that Chancellor Rishi Sunak might scrap the triple lock, which is to be confirmed on 7 September 2021. What is the maximum State Pension 2021? For the current tax year, 2020/21, the full new State Pension is £179.60 per week for those who reach pension age after 6 April 2016. However, if you reached pension age before 6 April 2016, the full basic State Pension is £137.60 per week. Keep in mind that the actual amount you get depends on your National Insurance record. Building up your National Insurance contributions for 10 years helps you qualify for the new State Pension, but you will need 35 contributing years to be eligible for the full amount. For those who reached pension age before 6 April 2016, you need a total of 30 qualifying years of National Insurance contributions or credits to get the full basic State Pension. Why am I not getting the full new State Pension? There are two main reasons why you might not be getting the full pension: You haven’t accumulated enough National Insurance contributions or credits You were contracted out of the State Pension If you find yourself in either of these situations, worry not. There are ways you can increase your pension up to or above the full amount. [middle_pitch] How can I increase my State Pension? It might be prudent to check your State Pension age and forecast on the gov.uk website first. This will help you understand when you’ll reach pension age and how much you could get. It’s also wise to check your National Insurance record to determine the status of your contributions. If you find that you don’t qualify for the full pension, Helen Morrissey recommends the following four ways to boost your pot. 1. Buy National Insurance credits If there are gaps in your National Insurance record, you can make voluntary contributions to ensure you get a full pension, if you’re eligible. 2. Claim Pension Credit Pension credit applies to those over pension age but on a low income. However, you need to check whether you’re eligible. It caters to living and housing costs and costs arising from being a carer, severely disabled or responsible for a child or young person. 3. Claim National Insurance credits Credits can help you fill gaps in your National Insurance record if you’re eligible. Depending on your circumstances, you may get them automatically or you may have to apply for them. Typically, you can automatically receive or apply for credits if you’re looking for work, ill, disabled or on sick, maternity, paternity or adoption pay, on working credit or a caregiver. You can get the complete list and details on the gov.uk website. 4. Claim Child Benefit Many women fall into the category of caregivers, mainly because they are at home looking after children. To avoid missing out on a full pension, they can claim Child Benefit and receive National Insurance credits that count towards their Pension. The post How you can boost your State Pension appeared first on The Motley Fool UK. “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner. But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared. What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations. And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! More reading Stamp duty relief behind August’s surprise house price growth Is the IAG share price too cheap to miss? Investors are buying Darktrace shares. Should I? 4 penny stocks to buy right now 7.8% dividend yields! 2 FTSE 250 dividend stocks to buy today
    [visit article]
  12. Kansas City Southern falls after regulator says merger waiver provision does not apply to Canadian National offer (17/05/2021 - Seeking Alpha)

    [visit article]
  13. Systematic Investment Plans: At no extra cost, get insurance up to Rs 50 lakh with mutual fund SIP! (06/05/2021 - Financial Express)
    The insurance cover is in the form of term insurance and will be available as a group insurance policy.
    [visit article]
  14. Assam’s newly notified Dehing Patkai National Park is a visual treat for wildlife lovers, check photos (24/06/2021 - Financial Express)
    With the upgradation of Dehing Patkai into a National Park, the state of Assam has become the state that hosts the second highest number of National Parks with a total of 7 such protected areas in the state with Madhya Pradesh with 11 National Parks on the top.
    [visit article]
  15. SBI’s arm launches helpline for health insurance customers (20/04/2021 - Money Works 4 Me)
    'Healthline' has dedicated a toll-free number and a mobile number that will be attended by the customer service team 24x7
    [visit article]
  16. China: Registrations of offline insurance agency companies drops by 40% year-on-year, while premiums of online business increases rapidly (24/06/2021 - Reddit Stock Market)
    Due to the combined influences of multiple factors including COVID-19, the growth rate of insurance industry nearly dropped to zero in the first five months. Behind the insurance industry’s struggles for an "inflection point" in growth, capital's enthusiasm for offline insurance agency companies began to cool down. According to data on Qichacha, from January 1st to June 21st, the number of newly registered offline insurance agencies were 2560, a sharp drop of 40% year-on-year. Currently, there is no limit to the online business of insurance agencies. According to data disclosed by the Insurance Association of China, in 2020, the premium income of Internet life insurance companies was 211.1 billion yuan, that of Internet property insurance companies reached 79.8 billion yuan, and the total Internet premium income was 290.9 billion yuan. The penetration rate of Internet insurance was only 6.4%. The Internet penetration rates of life insurance and property insurance are 6.3% and 6.7% respectively, and there is still a lot of room for growth.   submitted by   /u/InsurViewChina [link]   [comments]
    [visit article]
  17. Protect your life by purchasing not only health insurance but also term insurance: Parag Raja (05/05/2021 - Financial Express)
    The reforms in the second wave are expected to increase not only the country's insurance penetration rate but also lead to a conscious shift in the insurance product mix.
    [visit article]
  18. HG to acquire National Consumer Title Insurance (28/04/2021 - Seeking Alpha)

    [visit article]
  19. Insurance Awareness Day: How to make an informed buying decision (28/06/2021 - Financial Express)
    Life insurance policies of the pure protection variety, known as term Insurance, are basic and most necessary form of life insurance cover.
    [visit article]
  20. National Insurance payments set to rise: how will this affect you? (07/09/2021 - The Motley Fool UK)
    National Insurance has been a hot topic in the last few weeks. According to multiple news outlets, the government is planning to hike National Insurance payments. So, how much could payments rise by? And how could an increase affect you? Let’s take a look. [top_pitch] How much are National Insurance payments now? National Insurance is the government’s second-biggest source of income after income tax. It is used to pay for various state benefits, such as the State Pension and unemployment benefits. The amount you pay depends on your income and your employment status. If you are employed, you pay National Insurance if you earn more than £184 a week (£787 a month). You will pay 12% on any earnings over this amount, up to £967 a week (£4,189 a month). You then pay 2% on anything over this amount. The self-employed typically pay lower amounts of National Insurance. How much will payments rise? At the moment, the amount by which payments could increase has not been confirmed. According to the Telegraph, Downing Street wants a 1% increase. However, the Treasury wants a bigger increase of 1.25%. The Times, meanwhile, reports that Sajid Javid, the Health Secretary, is pushing for a 2% increase. The government intends to use the additional revenue to improve social care and reduce NHS waiting times. [middle_pitch] How will a National Insurance hike affect me? National Insurance is usually deducted from your income. So, any hike will leave you with less disposable income to spend every month. According to calculations reported in The Sun, for example, someone earning an annual income of £10,000, currently pays about £52 a year in National Insurance. If rates went up by 1%, it would raise their payments to £56, an increase of £4. For someone earning £15,000, a 1% hike would see their payments rise from £652 to £706 a year, an increase of £54. Someone earning £25,000 would see their payments go up from £1,852 to £2,006 a year, an increase of £154. People earning £50,000, meanwhile, would see their payments rise by a staggering £404 from £4,852 to £5,256 a year. However, overall, it is thought that any potential hike would affect those on lower incomes the most. One reason is that wealthier earners are likely to have other sources of income that are not subject to National Insurance payments. Other high earners could also be self-employed and thus pay lower rates. Additionally, since National Insurance is calculated on a weekly or monthly basis, seasonal workers or those on zero-hours contracts might have to pay despite their total income being less than the annual threshold. How can I make up for any shortfall in my disposable income? One way to make up for any potential shortfall in your disposable income is to ask for a pay rise from your employer. That way, if the National Insurance hike does happen, it will be offset by your salary bump. If you are not sure where to start, check out our guide on how to ask for a pay rise (and actually get it). Earning extra money through a side hustle is another excellent way to increase your disposable income. Any income generated from a side hustle up to £1,000 per year qualifies for tax relief known as the trading allowance. Nowadays, there are a number of side hustles to choose from. Check out our article on side hustles you can do from home for some ideas. The post National Insurance payments set to rise: how will this affect you? appeared first on The Motley Fool UK. 5 Stocks For Trying To Build Wealth After 50 Markets around the world are reeling from the coronavirus pandemic… And with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains. But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be daunting prospect during such unprecedented times. Fortunately, The Motley Fool is here to help: our UK Chief Investment Officer and his analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global lock-down… You see, here at The Motley Fool we don’t believe “over-trading” is the right path to financial freedom in retirement; instead, we advocate buying and holding (for AT LEAST three to five years) 15 or more quality companies, with shareholder-focused management teams at the helm. That’s why we’re sharing the names of all five of these companies in a special investing report that you can download today for FREE. If you’re 50 or over, we believe these stocks could be a great fit for any well-diversified portfolio, and that you can consider building a position in all five right away. Click here to claim your free copy of this special investing report now! More reading 3 FTSE 100 dividend stocks to buy now 3 of the best FTSE 100 index shares to buy right now I’d invest £1,000 in this quality UK growth stock today! The IAG share price is falling: should I buy in now? What’s going on with the Boohoo share price?
    [visit article]
  21. China: Qingsong Group strategically signs contract with AXA Insurance (29/06/2021 - Reddit Stock Market)
    On June 25, the launching ceremony of the "In the Name of Family" Guardian Program hosted by Qingsong Group and its strategic cooperation conference with AXA Insurance was held in Beijing. At the meeting, Qingsong Group announced that it had reached a strategic partnership with AXA Insurance Group. The two parties will work together to focus on family protection, conduct in-depth exploration in insurance education, insurance innovation, and health services, and jointly protect the health of 490 million Chinese families. The two parties also jointly launched the first cooperative product - Excellent Guardian Million Hospitalization Medical Insurance. It is reported that the product has been selected as the official licensed product of National Games of China, with advantages of user-friendly deductible, reasonable premiums, more comprehensive protection, wide insurance coverage, flexible purchase methods, and double insured amount for critical illnesses. Source: JRJ.com translated by InsurView   submitted by   /u/InsurViewChina [link]   [comments]
    [visit article]
  22. 74% FDI in insurance sector: Boost in insurance distribution, jobs creation; what it means for consumers (26/06/2021 - Financial Express)
    Our country’s parliament passed the Insurance Amendment Bill 2021 to increase the foreign direct investment (FDI) limit in the insurance sector to 74% from 49%.
    [visit article]
  23. Unmarried or married millennial? Here’s how to buy life insurance at different life stages (20/07/2021 - Financial Express)
    Buying life insurance should not be an ad-hoc event, rather one should correctly estimate the insurance need based on one's goals and then purchase insurance plans.
    [visit article]
  24. Tax on share dividends to increase by 1.25%. Here’s what it means for investors (07/09/2021 - The Motley Fool UK)
    The government has announced a 1.25% increase in the tax on share dividends that will apply from April 2022. The news comes at the same time as it was announced that National Insurance contributions will increase by 1.25% next year. The government says the rises will help fund health and social care in England. Both announcements are subject to a vote in the House of Commons. So if you’re an investor, what does the new tax on share dividends mean for you? Here’s what you need to know. [top_pitch] How much tax is currently paid on share dividends? If you’re an investor, you currently get a dividend allowance of £2,000. So, if you receive dividends worth £2,000 or less, you don’t have to pay any tax on them. For dividends of more than £2,000, the amount of tax you pay depends on your income tax band. This is unless your investments are held in an ISA, in which case your dividend payments remain tax free. For non-tax-efficient investments, you must pay 7.5% tax on any dividends over £2,000 if you’re a basic rate taxpayer. If you’re a higher rate taxpayer, you must pay 32.5%, and it’s 38.1% if you’re an additional rate taxpayer. You can find more information on income tax bands on the gov.uk website. What are the changes to dividends tax? From April 2022, the government is implementing a 1.25% rise in the tax on dividends to help fund social care. Analysts expect that the move will raise up to £600 million, with the majority of payers coming from the top 10% of households.  The new tax will not, however, apply to investments held within an ISA.  Why has dividends tax increased? With a National Insurance hike of 1.25% also announced, many analysts feel that the dividends tax is a way for the government to show that it is keen to increase taxes on asset holders as well as those who rely on a working income. Critics of the National Insurance hike have repeatedly pointed to the fact that it will not apply to most pensioners, landlords or those living off income from assets, suggesting that only those relying on a working income face the burden.  National Insurance, by definition, is also a regressive tax, meaning that an increase disproportionately impacts those on lower incomes. That’s because the amount of contributions you have to make, at a percentage level, decreases at higher incomes. However, critics of the dividend tax rise consider it a token gesture. That’s because the 1.25% rise won’t apply to investments held in an ISA. [middle_pitch] How has industry reacted?  Commenting on the changes, Tom Selby, head of retirement policy at AJ Bell, says that investors should now take the time to examine their portfolios in order to ensure they aren’t inadvertently paying more tax than they need to. He explains: “The increase in dividend tax means people investing outside tax-sheltered wrappers like pensions and ISAs should review their portfolios to make sure they are making as much use as possible of their annual contribution allowances to keep their tax bills as low as possible.”  Will the tax increase definitely go ahead? MPs will vote on the government’s health and social care plan, including the planned dividends tax rise, on Wednesday 8 September at 7pm. While a number of cross-party MPs do not approve of the proposals, the policy is expected to pass through the House of Commons. The post Tax on share dividends to increase by 1.25%. Here’s what it means for investors appeared first on The Motley Fool UK. 5 Stocks For Trying To Build Wealth After 50 Markets around the world are reeling from the coronavirus pandemic… And with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains. But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be daunting prospect during such unprecedented times. Fortunately, The Motley Fool is here to help: our UK Chief Investment Officer and his analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global lock-down… You see, here at The Motley Fool we don’t believe “over-trading” is the right path to financial freedom in retirement; instead, we advocate buying and holding (for AT LEAST three to five years) 15 or more quality companies, with shareholder-focused management teams at the helm. That’s why we’re sharing the names of all five of these companies in a special investing report that you can download today for FREE. If you’re 50 or over, we believe these stocks could be a great fit for any well-diversified portfolio, and that you can consider building a position in all five right away. Click here to claim your free copy of this special investing report now! More reading Pensions triple lock to be suspended The IAG share price crashes 30% in 6 months! Should I buy? Is Argo Blockchain’s share price now too cheap to ignore? This FTSE stock’s share price has plummeted recently. Should I buy shares? Could this penny stock be about to explode?
    [visit article]
  25. Punjab National Bank, SBI Life among top mutual fund buys in May; here’s what AMCs bought, sold (17/06/2021 - Financial Express)
    Punjab National Bank, SBI Life Insurance Company, and Indus Towers were the three top large-cap buys by Mutual Funds in the month of May.
    [visit article]
  26. China: Supervision on life insurance is tightened (22/07/2021 - Reddit Stock Market)
    Judging from the fines issued by China Banking and Insurance Regulatory Commission(CBIRC) from January 1 to June 30 2021, it can be seen that its supervision of the insurance industry in 2021 has become increasingly strict. According to data, in the first half of 2021, CBIRC issued 1,074 fines for insurance business, punishing institutions 679 times, and 789 responsible person and agents. The total fines amounted to 132 million, an increase of 9.6% over the same period last year. From the perspective of insurance types, CBIRC has significantly tightened the management and control of life insurance. The data shows that although property insurance is still the main focus for supervision, the number and amount of fines received by life insurance in the first half of 2021 have increased significantly. CBIRC issued a total of 312 life insurance fine tickets, accounting for 29% of the total, an increase of 6% year-on-year; the total amount of the fines was 31.5 million yuan, an increase of 18% year-on-year. From the perspective of punishment causes, material fraud and misleading sales are still the biggest problems in the insurance industry. According to statistics, in the first half of 2021, there were a total of 719 fines of insurance agency companies due to involving the preparation or provision of false materials, obstruction of supervision, and failure to use approved insurance clauses and expenses. At the same time, of the 15 insurance fines received by banks, there were a total of 8 related to misleading and deceiving policyholders and failing to perform the duty of notification. Source: https://www.caijing.com.cn/   submitted by   /u/InsurViewChina [link]   [comments]
    [visit article]
  27. Insurance stocks and climate change (16/07/2021 - Reddit Stocks)
    I am planning on buying some insurance stocks (RNR, RE) . But I am unsure about the long term future for the insurance industry. More specific, I am worried that climate change related catastrophes will just become worse and more frequent, and this will ofcourse put the insurance industry to test. Therfore, I am starting to worry that buying insurance stocks might not be as safe as I tought. What do you guys think? How should the insurance companies deal with this? Should they raise the premium cost in order to stay profitable? And if so, how will the customers react? Basicly I want to start some discussion about the future of the insurance industry. All toughts are welcome. ????   submitted by   /u/Lillgagge194 [link]   [comments]
    [visit article]
  28. The National Lottery Cinema Weekend: free pair of tickets available! (17/06/2021 - The Motley Fool UK)
    We all like a freebie, and this weekend the National Lottery are offering players the chance to snare up to two free tickets at participating cinemas! What’s more, you don’t necessarily have to buy a ticket for this weekend to be eligible: any National Lottery player who’s bought a ticket, scratchcard or Instant Win game after 1 January 2019 – and retained the relevant reference number – can apply here. Where I live, this weekend is set to be a washout – hello, Great British Summer(!) – and we had been eyeing up a cinema trip to see A Quiet Place Part II anyway… It took me all of a few minutes to find a nearby participating Picturehouse (other cinema chains are available) showing the film, and apply my vouchers. It’s worth noting that the National Lottery does raise money for good causes, including the arts, sports and many more, including the film industry of course. So it wasn’t a hard decision for me to make, parting with £2 for a new ticket (and a small booking fee on the cinema’s site to complete the transaction), knowing that I would have likely paid full price regardless to see this particular film. Having just heard about the National Lottery Cinema Weekend myself, I’m hopeful that I can share this savings ‘hack’ with as many Heroes as possible! The post The National Lottery Cinema Weekend: free pair of tickets available! appeared first on The Motley Fool UK. “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner. But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared. What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations. And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! More reading 4 ways to protect my FTSE 100 stocks from inflation The Record share price slumps following FY results. Is now the time to buy? 1 FTSE 100 recovery stock to buy today Why I think the Tesco share price is deeply undervalued When is Amazon Prime Day 2021?
    [visit article]
  29. National Insurance rise could hit low earners the hardest (07/09/2021 - The Motley Fool UK)
    Reports are swirling around that the government is planning to increase National Insurance by either 1% or 1.25%. While it’s being touted as a way to tackle the social care funding crisis in the UK, a National Insurance hike would disproportionately affect low-income earners. Let’s break it down. The impact of a National Insurance hike on low earners The reality is that an increase in National Insurance would hit young households and those on low incomes more than an income tax hike would. This is because only those earning over £12,570 pay income tax. But if you earn above £184 a week or are self-employed and make a profit of at least £6,515 annually, then you are required to pay National Insurance. So someone on an income of less than £10,000 a year would be affected by a hike in National Insurance contributions – but not if income tax was increased by the same amount. In fact, the Institute for Fiscal Studies has suggested that if basic and higher rate income tax was increased by just under 1.5%, then it would raise a similar amount to a 1% hike in National Insurance. The key difference is that it would spread the burden and not disproportionately affect those on lower incomes. [top_pitch] Support for low-income households Finding your money squeezed even tighter can be a worry and financial stress can affect all areas of your life. So if you are worried about what an increase in National Insurance could mean for your finances, then it is worth being aware of the low-income support schemes are available. Universal Credit Universal Credit is there to help with your living costs. It replaces: Child Tax Credit Housing Benefit Income Support Income-based Jobseeker’s Allowance (JSA) Income-related Employment and Support Allowance (ESA) Working Tax Credit How much you get will depend on your earnings, whether you have children and whether you have a disability or health condition that prevents you from working. You can use a benefits calculator to see how much you could be entitled to. Free school meals If you have children at school, then you may be eligible for free school meals and free school milk. You can apply for this through your child’s school or your local council. Eligibility is based on income and whether you receive any benefits. You can check all that out on the gov.uk website. NHS Low Income Scheme We are very fortunate to have free healthcare in this country, but there are some health costs that we are required to pay. The NHS Low Income Scheme is there to help you out with things like: NHS prescription charges NHS dental treatment charges The cost of sight tests, glasses and contact lenses The cost of travelling to receive NHS treatment NHS wigs and fabric support [middle_pitch] Take home Money worries can be all-encompassing. While tax hikes may seem far removed, the reality is that they directly affect how much you have in your bank account. If you are worried about how a rise in National Insurance contributions could impact your finances, then it is worth educating yourself on what help is available. Something else to think about is doing a budget based on higher National Insurance payments. Understanding how much you have coming in and going out can help you to feel empowered when it comes to your finances. And preparing ahead of time for changes to your income can lessen the impact. The post National Insurance rise could hit low earners the hardest appeared first on The Motley Fool UK. 5 Stocks For Trying To Build Wealth After 50 Markets around the world are reeling from the coronavirus pandemic… And with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains. But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be daunting prospect during such unprecedented times. Fortunately, The Motley Fool is here to help: our UK Chief Investment Officer and his analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global lock-down… You see, here at The Motley Fool we don’t believe “over-trading” is the right path to financial freedom in retirement; instead, we advocate buying and holding (for AT LEAST three to five years) 15 or more quality companies, with shareholder-focused management teams at the helm. That’s why we’re sharing the names of all five of these companies in a special investing report that you can download today for FREE. If you’re 50 or over, we believe these stocks could be a great fit for any well-diversified portfolio, and that you can consider building a position in all five right away. Click here to claim your free copy of this special investing report now! More reading Ted Baker reports 50% sales growth 2 cheap UK shares I’d buy in my ISA (including a FTSE 100 bargain) Up 70% since its IPO, is this one of the best shares to buy now? A cheap FTSE 100 dividend stock I plan to own forever! Cineworld: what’s going on with this penny stock?
    [visit article]
  30. FDI in insurance: Need to ensure transparency in operations (29/04/2021 - Financial Express)
    Shaking off a languid approach to regulation in crucial areas and developing transparency in operations are keys to enable FDI and enhance insurance penetration. The IRDAI has not taken disciplinary action against any insurance company over the last ten years on grounds of non-compliance with awards of insurance ombudsman
    [visit article]
  31. : National Flood Insurance Program leaves out communities of color, lower-income Americans, report finds (04/08/2021 - Market Watch)
    Less than 10% of the flood risk to single-family homes in America is actually insured by the national program designed to offer such protection, with communities of color and lower-income areas disproportionately less likely to be covered.
    [visit article]
  32. Life Insurance and Health Insurance: Why to get insured and which cover is essential? (11/06/2021 - Financial Express)
    The aim of taking insurance is getting financial protection against a risk, where uncertainty is there about timing and/or occurrence of an insurable event.
    [visit article]
  33. Car insurance – What should you do after your motor insurance policy expires? (23/02/2021 - Financial Express)
    After a motor insurance policy expires, the first and foremost thing the policyholder should do is to inform the insurance company. Experts say informing the insurer should be done on a priority basis, as soon as the policyholder gets an update about the motor insurance policy's expiry.
    [visit article]
  34. The Bereavement Support Payment explained (19/03/2021 - The Motley Fool UK)
    The Bereavement Support Payment can take away some of the financial strain during what’s already a distressing time for your family. Here’s a look at how they work, who can apply, and where to turn for more help.  Please note that tax treatment depends on the specific circumstances of the individual and may be subject to change in the future.  [top_pitch] What is the Bereavement Support Payment? Both Bereavement Support Payments and the Bereavement Allowance (which applies if your partner died before 6 April 2017) replaced the Widow’s Pension scheme. So, although you can’t apply for the Widow’s Pension anymore, there are other bereavement payments you could be entitled to. Who can claim the Bereavement Support Payment? You could be eligible if your partner either: Paid National Insurance contributions for at least 25 weeks in one tax year since 6 April 1975 Died due to an accident at work or a disease caused by work When they died, you must have been: Under State Pension age Living in the UK or a country that pays bereavement benefits If they died more than 21 months ago, you can still apply if it took more than 21 months to confirm the cause of death. Simply call the Bereavement Service Helpline for more information. Or, if your partner died before 6 April 2017, you could maybe apply for Widowed Parent’s Allowance instead. The Bereavement Support Payment isn’t means-tested. This means it doesn’t matter how much you earn, or whether you’re working or not – you can still apply. There are a few occasions, however, when you can’t apply for support. You can’t claim if: You were living outside the UK at the time of death, unless the country you’re living in pays bereavement benefits.  You’re in prison.  If you’re not eligible, check with your local Jobcentre Plus to see if you can claim any other financial support.  When can I apply? You should apply within three months of your partner’s death. If you wait longer than this, you’ll still support but you’ll get fewer monthly payments.  How much can I get? There are two flat rates. In both cases, you’ll get a lump sum payment followed by 18 monthly payments.  Higher rate A lump sum of £3,500 + 18 payments of £350.  You’ll get this rate if you: Claim Child Benefit Don’t claim Child Benefit but you’re entitled to Were pregnant at the time of your partner’s death  Lower rate A one-off payment of £2,500 + 18 payments of £100. You’ll get this rate if you do not meet the criteria for the higher rate payment. Is the Bereavement Support Payment taxable? No. You won’t pay tax on your Bereavement Support Payment. It won’t affect your benefits for 12 months after your first payment, either. After this point, though, it could affect how much you can claim, because it might be treated as savings. Contact HMRC for more advice on this.  [middle_pitch] How do I claim Bereavement Support Payment? It’s a simple process. For those in England, Scotland or Wales, call the helpline or download a Bereavement Support Payment Form. If you’re in Northern Ireland, either download the application form or call the Bereavement Support Service. Need more help? You can always contact Citizens Advice.    How long does it take to get the payment? It varies, but the DWP aims to pay out as soon as possible. So, hopefully, you should get your lump sum Bereavement Support Payment within a few weeks of applying.  Takeaway The Bereavement Support Payment can be a lifeline for families suffering financially after the death of a wife, husband or civil partner. Just remember, though, to apply as soon as possible: if you apply more than three months after your partner’s death, you won’t get all 18 monthly payments. And here’s one final thing to note. If you’re paying your self-assessment tax and National Insurance bill by instalments due to the Covid-19 pandemic, contact HMRC before you apply. Your application might be rejected otherwise.  “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner. But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared. What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations. And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! More reading How does the UK State Pension compare with Europe? A UK share I think matches the Warren Buffett investment style ASOS shares are rising: here’s what I would like to do Should I buy Greggs shares after its 2020 loss? 2 ideas I’d add to my passive income list The post The Bereavement Support Payment explained appeared first on The Motley Fool UK.
    [visit article]
  35. An eye in the sky: Drones, satellite imagery to fight farm insurance fraud a good idea (09/09/2021 - Financial Express)
    The fact is fraud also drives up the cost of insurance for genuine insurance-seekers—small and marginal farmers make up the bulk of the insurance-seekers—and affects business (through reduced attractiveness of higher premiums) for insurers.
    [visit article]
  36. Insurance & real estate: Panel moots cover for allottees & successors (17/05/2021 - Financial Express)
    A few general insurance firms offer title insurance to developers, housing societies and their shareholders
    [visit article]
  37. PLUM: Group health insurance made fast and simple (06/06/2021 - Financial Express)
    The platform enables real-time insurance design and pricing to enable firms to buy insurance in three clicks
    [visit article]
  38. Buying new life, health or motor insurance policy? Know if physical certificate is mandatory or not in 2021 (18/03/2021 - Financial Express)
    Certificate of Insurance rules in India 2021: The physical version of the electronic insurance policies need not be issued when electronic insurance policies are issued through the platform of registered Insurance Repositories.
    [visit article]
  39. China: Automobile chips have insurance now with the facilitation of multiple national departments (14/07/2021 - Reddit Stock Market)
    In order to alleviate the “chip shortage” problem in the auto industry, China has recently worked with related companies to formulate an auto chip insurance mechanism, aiming to promote chip companies, component companies and insurance companies. Specifically, the government will carry out pilot work on auto chip insurance and premium subsidies, solve the problem of auto chip application through the "market-oriented + limited government support" approach, and share the upstream and downstream risks of the industry chain through insurance. Automobile chip insurance is an innovative product that covers risk issues in the development and application of automobile chips. At present, the auto chip insurance protection scheme covers many sub-markets in non-auto insurance fields such as liability insurance. Companies can choose one-year or five-year periods. Underwriting conditions such as compensation limits and deductible rates are also negotiated by both parties. Dong Xiaoping, deputy director of the Electronic Information Department of the Ministry of Industry and Information Technology, believes that automobile chip insurance is another useful attempt to promote the application of domestic automobile chip products. Auto chip insurance shares the user's risk by market segmentation, which helps to enhance the auto industry’s confidence in purchasing and using new domestic automotive semiconductor products, promotes its accelerated application in vehicles, and realizes the mutual benefits of the automotive industry, automotive semiconductor industry, and insurance industry. Source: Economic Daily   submitted by   /u/InsurViewChina [link]   [comments]
    [visit article]
  40. Know about Indian Railways integrated Rail Madad Helpline 139 for grievance redressal & enquiry during travel (09/03/2021 - Financial Express)
    As the new helpline number 139 will take over all the existing railway helpline numbers, it will be easy and convenient for the passengers to remember this number and connect with the national transporter for all their requirements during the train journey.
    [visit article]
  41. UK State Pension: who is eligible? And who isn’t? (16/04/2021 - The Motley Fool UK)
    The UK State Pension is a regular payment from the government to people who’ve reached a certain age. It’s a vital source of retirement income for many, but not everyone can access it. So, who is eligible and who isn’t? Let’s find out. [top_pitch] Am I eligible for the UK State Pension? In order to be eligible for the State Pension, you have to meet certain criteria set by the government. You must have reached the State Pension age and made a minimum number of National Insurance contributions (NICs) throughout your working lifetime. There are several classes of National Insurance contributions: Class 1 contributions – paid by employees Class 2 contributions – paid by self-employed people earning profits of £6,515 or more a year Class 3 contributions – voluntary contributions to fill or avoid gaps in your NICs record Class 4 contributions – paid by self-employed people earning profits of £9,569 or more a year To get the UK state pension, you need at least 10 qualifying years of NICs on your record. These years don’t have to be consecutive. The qualifying years can be earned through any of the above-mentioned types of National Insurance contributions. However, you can also earn them through National Insurance credits. NI credits are usually given to: People who are not working due to illness, unemployment or maternity leave or people who are working but don’t earn enough to pay for National Insurance. Parents of children under the age of 12 for whom they claim Child Benefit People caring for someone sick or disabled Which kind of State Pension could I be eligible for? There are currently two State Pension systems: the new State Pension and the basic State Pension. The kind of pension you will get depends on how old you are and when you retire. Eligible men born on or after 6 April 1951 and women born on or after 6 April 1953 get the new State Pension. Eligible men born before 6 April 1951 and women born before 6 April 1953 get the basic State Pension. If you are eligible for the State Pension, you must apply for it; it is not paid to you automatically. How much State Pension can I get if I am eligible? The full rate of the new State Pension is £179.60 while that of the basic State Pension is £137.60. However, not everyone gets the full rate. The amount you receive will depend on the number of qualifying years on your record. To get the full new State Pension, you need 35 years’ worth of National Insurance contributions. For the full basic State Pension, you need 30 qualifying years. If you have fewer years of contributions than are required for the full State Pension but at least 10 years’ worth, you will still be eligible for State Pension, but the amount you get will be less. You can use the government’s State Pension forecast tool to check how much State Pension you could get. [middle_pitch] How can I financially secure my retirement? The UK State Pension is an important part of retirement income for a lot of pensioners. However, it is considered insufficient to ensure a comfortable standard of living in retirement. That is why it is a good idea to look for other ways to supplement your retirement income. A workplace pension is an excellent option. In fact, the government has made it mandatory for all employers to enrol eligible employees in workplace pensions unless they choose to opt-out. If you are not currently in one, speak with your employer to learn your options. You can also put money into a personal or self-invested personal pension (SIPP).  With this kind of pension, you get to choose the provider as well as the amount of money to invest. Investing in stocks is yet another way to feather your nest. Over the long term, the stock market has a good track record of helping investors build wealth. It’s still important to remember that past performance is not a reliable indicator of future returns. The opportunity to invest in stocks can be even more favourable when combined with the tax advantages of a stocks and shares ISA account. This is essentially a tax wrapper that shields your investment from capital gains tax and income tax. Note, however, that tax rules can change in the future and their effect on you will depend on your individual circumstances. Remember, it’s never too early to start planning for retirement. The sooner you begin, the more time you will have to save for the lifestyle you want in your golden years. “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner. But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared. What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations. And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! More reading A UK penny stock to buy for my Stocks and Shares ISA 1 US pot stock I might buy Elliott Management has built a large stake in GlaxoSmithKline Would I buy the Deliveroo, Volex, and Futura Medical shares now? What is the traditional investment portfolio allocation? The post UK State Pension: who is eligible? And who isn’t? appeared first on The Motley Fool UK.
    [visit article]
  42. Tips to buy most essential insurance policies (09/08/2021 - Financial Express)
    For taking care of any untimely death that can leave one's family stranded for funds, buying life insurance preferably through a term insurance plan is highly recommended.
    [visit article]
  43. Coronavirus in Delhi: As Covid-19 cases surge, demand for plasma increases (05/04/2021 - Financial Express)
    The number of active Coronavirus cases in the national capital increased by 37,125 in the month of March alone with the number of cases on an upward trend during the first four days of April as well.
    [visit article]
  44. (HOW DO YOU PAY CAPITAL GAINS TAX) Is capital gains tax offset against stock sales or does it count as something that you have to declare on your tax statement. (04/08/2021 - Reddit Stock Market)
    I am 16 and have been researching investing for a little over a year. I started with a practice account of £50,000 and now I have £86,942, I realise that a lot of this profit would have been due to the pandemic recovery but I would like to start investing with real money. As I understand, it is legal to invest under 18 if you have your parents consent and it is under their national insurance number (I live in the UK but I would imagine it is the same in the US). I was wondering how you pay capital gains tax because it would be too inconvenient for them to try to declare all of the trades that I have done (if you pay it as part of your yearly tax). I thought redit might be a good place to find the answer to this question, Sorry this was a bit long winded.   submitted by   /u/intenza1 [link]   [comments]
    [visit article]
  45. CBIRC: Direct investment of insurance funds through stocks and bonds reaches 4.35 trillion yuan (19/07/2021 - Reddit Stock Market)
    China Banking and Insurance Regulatory Commission(CBIRC) spokesperson Zhang Zhongning revealed at a press conference held by the State Council Information Office that in recent years, CBIRC has encouraged insurance funds to play the role of long-term, stable and value investors. Insurance funds could provide multi-level financial support for manufacturing and strategic emerging industries through stocks, equity, debt, funds and other forms. By the end of May this year, insurance funds had directly invested 4.35 trillion yuan in manufacturing, energy, technology and related infrastructure fields through investment in corporate bonds, stocks, funds, equity, asset management products, etc., accounting for 19.07% of the balance of insurance funds utilization. The insurance asset management industry has also actively created insurance asset management products, and participated in investment in high-end equipment, artificial intelligence, new-generation information technology and other fields. It has connected high-tech industrial parks and strategic emerging industries, and established a number of typical projects. Source: https://www.cls.cn/   submitted by   /u/InsurViewChina [link]   [comments]
    [visit article]
  46. Life insurance: We need insurance agents in the digital era (25/02/2021 - Financial Express)
    In life insurance, one-on-one interaction is still an integral part of the sales process even for term assurance and guaranteed return plans
    [visit article]
  47. Insurance sector: Rural India needs insurance in sachet form (18/02/2021 - Financial Express)
    From being a push product, insurance is now a nudge product due to rising uncertainities in the time of Covid but affordability is a big issue
    [visit article]
  48. Own a car? Check top mistakes to avoid while buying a motor insurance plan (20/08/2021 - Financial Express)
    Motor insurance plans are not just meant for compliance and adherence to rules as only third party insurance is mandatory and not the comprehensive one.
    [visit article]
  49. Benefits of no claim bonus protection add-on cover in car insurance and how it works (22/04/2021 - Financial Express)
    A comprehensive car insurance plan not only covers the mandatory third-party insurance for your vehicle but also provides coverage for any damages to your own vehicle as well!
    [visit article]

For more information mailto [email protected]. Disclaimer.