People have been reclaiming PPI for several years now and in August of last year it was estimated that banks had paid out a whopping £24 billion in compensation, with further billions also being set aside for future claims that might be made.

While life insurance is most certainly one of the most essential policies you can add to your coverage portfolio, having it doesn’t do you much good if you don’t know the proper way to use it.

Choosing your life insurance cover is one of the most important decisions you can make, especially if you have dependants who rely on you. At the heart of it, there are only two types of life insurance: term and whole life. We will look at each one in a little more depth below.

Buying a property and letting it out to tenants is one of the smartest and most effective ways of improving your financial situation.

On the one hand, it will provide with a regular income if the rental figure is higher than the mortgage repayments and any other associated outgoings. However, the real benefit is that you own a property which increases in value over the years while not having to pay the mortgage for it.