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0333 344 1517We truly believe that it is our values that set us apart.
What are those values I hear you ask?
All our employees and associates live by the values so much so that we reward any employee who goes out their way to implement the values in their day to day job.
Perhaps you would like to nominate one of our employees for a Value Award? Just drop us an email support@renew-life.com
Renew Life (a trading style of Renew Financial Management) is based in Newcastle Upon Tyne with associate offices throughout the UK.
The company was established and is ran by Directors who have previously worked in very values driven high profile organisations and those values have cascaded to their own company - Renew Life.
We arrange over 250 policies per week and ensure that every single policyholder has an outstanding customer journey with us – take a look at some of the feedback we receive here.
Life InsuranceIt’s important to plan for the future, and look after loved ones and our affairs. We offer various competitive Life Insurance policies from the largest insurers from the price of a cup of coffee per week.
About ServiceMost of us have our phones, cars, holidays, buildings, contents and pets insured but why are we always so quick to overlook insuring ourselves?
It isn’t nice to think about but we won’t be here forever and what would happen to your family and loved ones if you were not here to support them financially or emotionally?
By having a Life Insurance policy it means your loved ones will receive a lump sum of cash upon your death.
You can choose the amount the policy will pay out and you even choose the length of time you are covered for and how much you wish to pay each month towards the policy.
The answer to this is simple – peace of mind. Not only for you but also your loved ones.
Ultimately it is the choice of your loved ones what the lump sum would be used for however most policy holders use life cover for…
Level Term: A policy which pays a set amount upon your death. The pay out and your monthly premiums are arranged at the outset and will not change.
Decreasing Term: A policy where the amount of cover chosen reduces over time and therefore the pay-out made upon your death decreases. These types of policy are usually taken out alongside a mortgage, the mortgage balance reduces over the years as does the life cover.
This is totally dependent upon each individuals health, lifestyle and personal preferences about the cash pay-out, the term, and the premiums. Let’s take a look at the 3 elements that calculate the cost.
1: The amount you would like to be paid out is taken into account. Remember the higher the pay out the higher the premium will be. For this reason it is often a good idea to have an idea of how much you would need or like your loved ones to receive. Take some time to think about how much you owe on your mortgage, joint debts and how much income your family would lose if you were no longer here to earn. Don’t forget to also think about the milestones and occasions you would have perhaps contributed towards, house purchases, settling down, marriages, children – you could still ensure you are part of those special times by planning ahead.
2: How long do you want the cover for? The longer the policy the higher the premium will be as the older you become the more likely you will pass away whilst still insured. Take some time to think about how long your family would need your financial support for.
3: What is your health and lifestyle like? Remember a healthy person will always pay less than a person who has medical problems or an unhealthy lifestyle and your family medical history can also impact the cost of your policy. This is not to say you won’t be able to get insurance it may just mean you pay slightly more.
Why not contact us for a free, no obligation quote to see how much peace of mind would cost you?
Many couples opt for a joint Life Insurance policy with a single pay out when the first policyholder passes away. This could work out more costs effective for you on a monthly basis but please remember we always need to speak to both policy holders to set up your policy.
Whole Of LifeA good option for some customers, Whole of Life policies offer a guaranteed pay-out - usually for a lower sum than a term policy. These are often ideal for funeral costs and can be suitable for customers who have a previous or present serious medical condition(s).
About ServiceA Whole of Life policy is an insurance product where there is no set term, it will run for the duration of your life. This allows a claim to be made whenever the policyholder passes away. This can be at any stage of their life, meaning the pay-out is almost always guaranteed rather than to only being paid if claimed during the term of a life insurance policy. This is often used to contribute towards funeral costs.
People often opt for a Whole of Life policy rather than a Life Insurance policy which has a term, as a Whole of Life policy can often be seen as a more favourable product due to the nature of the guaranteed pay-out, although this is often lower than a term policy due to this.
This is totally dependent upon each individuals health, lifestyle and personal preferences about the policy’s pay-out and the monthly premiums. Let’s take a look at the elements that calculate the cost.
The amount you would like to be paid out is taken into account. Remember the higher the pay out the higher the premium will be. For this reason it is often a good idea to have an idea of how much you would need or like your loved ones to receive. Remember that as a Whole of Life policy is almost guaranteed therefore the premiums may well be more expensive than that of a term Life Insurance policy.
What is your health and lifestyle like? Remember a healthy person will always pay less or receive a higher cover amount compared to a person who has medical problems or an unhealthy lifestyle and your family medical history can also impact the cost of your policy. This is not to say you won’t be able to get insurance, it may just mean you pay slightly more.
Why not contact us for a free, no obligation quote to see how much peace of mind would cost you?
Income ProtectionIncome Protection Insurance is a long-term insurance policy which is to help you if you are unwell or injured causing you to be unable to work, providing peace of mind for you and your family.
About ServiceIncome Protection Insurance is a long-term insurance policy which is to help you if you are unwell or injured causing you to be unable to work.
The answer to this is simple – peace of mind. Unless you would be able to survive on sick pay, benefits or by support from family, friends or savings then the loss of your income could mean that you struggle to pay your bills.
Income Protection Insurance will replace part of your income and will continue to be paid until you are able to return to work again or you retire. It covers most illnesses that would prevent you from being able to work and you can claim on the policy as many times as you need to.
One thing to remember is that there is often a waiting period before the payments start. Most policies will require you to exhaust your sick pay entitlements before making a claim however if you are self-employed with no sick pay to fall back on then this sort of insurance policy is particularly relevant to you.
This depends upon your policy and your individual circumstances. The cost can be dependent upon your…
Why not contact us for a free, no obligation quote to see how much peace of mind would cost you?
Critical IllnessAn unexpected illness can cause unnecessary hardship, making the whole situation far worse than it needs to be. Critical Illness Cover can give financial support when it is needed most.
About ServiceBeing diagnosed with a Critical Illness can cause you and your family life changing consequences. By having Critical Illness Cover you are insured in case of this eventuality, upon diagnosis you simply make a claim and your pay-out will be made. This can ease the pressure of a reduced income or inability to work and provide comfort to you and your loved ones allowing you to concentrate on your health.
Each insurer is different but the majority of well-known insurers we work alongside cover the below Critical Illnesses, therefore should you be diagnosed with any of the below you would be entitled to claim your cash pay-out.
The answer to this is simple – peace of mind. Not only for you but also your loved ones.
Most policy holders use Critical Illness Cover for…
How much does Critical Illness Cover cost?
This depends upon your policy and your individual circumstances. The cost can be dependent upon your…
Why not contact us for a free, no obligation quote to see how much peace of mind would cost you?
Home InsuranceOur homes and the contents of them will usually be the most valuable things we ever own. Taking out inadequate home insurance can have life changing consequences, use our advisers to get things right and protect your family home.
About ServiceHome insurance is a type of insurance product that protects your property and your belongings.
There are 3 main types home insurance policies…
1. Buildings Insurance
2. Contents Insurance
3. Buildings & Contents Insurance
Buildings Insurance covers the cost of repairing damage to your properties structure. This includes….
Typically Buildings Insurance covers the cost of rebuilding your home and it is therefore very important that you ensure the policy you take out covers the entire cost of this and that your estimated rebuild cost takes into account demolition fees, site clearances, architects fees, building costs etc.
Generally buildings insurance covers the cost of loss or damage that has been caused by…
There are 2 types of contents insurance policy…
1. Bedroom rated
2. Sum insured
Sum insured
Sum insured cover is calculated by working out the cost of rebuilding your home from scratch.
This amount should include professional fees and is NOT the same as your homes market value. The cost of building increases year on year so the rebuild price will increase so you may choose to index link your policy to take this into account.
Bedroom rated
Bedroom rated cover estimates the cost of rebuilding your home based on the number of bedrooms you have.
These types of policy protect you from under-insuring (as calculating a sum insured policy can be quite tricky) and provide very high sum-insured cover.
Bedroom rated cover means you don’t have to worry about calculating the rebuild cost of your home. It’s important to bear in mind though that you could end up over-insuring yourself and paying for cover that you might not need but many see that as worthwhile compared to the risk of under insuring.
Accidental Damage: This happens when there’s a one off unintentional incident that damages the structure of your property. For example, a ball through your window. Cover for accidental damage is usually bought as an add-on to a policy as home insurers provide very limited protection as standard.
Usual exclusions: Typical exclusions include…
Occupation: It is also useful to know that most insurance providers will only provide cover on the agreement that your phone will not be unoccupied for more than 30 consecutive days. If you intend to do this you should update your provider.
Tenants: Tenants do not need to purchase Buildings Insurance as that is the responsibility of the landlord however a Tenant should arrange their own Contents Insurance.
Contents Insurance covers the cost of replacing belongings that are either damaged, destroyed or stolen in your home. Typical items included are…
If and when you need to make a claim on your contents insurance your provider will pay out either on a ‘new for old; or ‘indemnity basis’.
New-for-old cover means your provider will pay out for a brand-new product of the same value if your insured item is damaged or stolen.
Indemnity cover takes into consideration wear and tear on the items that you claim for which means any pay-out will be reduced.
Since the pay-outs on new-for-old policies tend to be higher, they can be more expensive than indemnity policies.
There are three main types of contents insurance policy…
1. Bedroom rated
2. Sum insured
3. Unlimited sum insured
Bedroom rated
A bedroom rated policy uses the number of bedrooms in your home to calculate the amount of contents cover you get.
Sum insured
A sum insured policy requires you to calculate the amount of contents cover you need.
Unlimited sum insured
An unlimited sum insured policy covers all of your contents without any limit so you don’t have to worry about being under insured.
Other helpful information
Accidental Damage: Accidental damage occurs when there’s a one-off unintentional incident impacts your contents, for example knocking a tin of paint over a sofa/carpet. This is often purchased as an add on to Home Insurance policies and will increase your premium.
Personal possessions cover: This protects your contents whilst they are outside of your home, and may need to be purchased an add on, typical items that would be covered with this add on include….
Buildings & Contents Insurance is a combined plan suitable for homeowners (as Tenants do not need to arrange Buildings Insurance)
Pet InsuranceThere is a vast range of pet insurance products on the market all with varying qualities of cover. As animal lovers ourselves, Renew Life only work with carefully selected pet insurance providers with cover that meets our standards. Let us help you protect your beloved pets.
About ServicePets fast become part of the family and wouldn’t you do all you could to protect your family members? That is why Pet Insurance is so important.
If your pet was to become sick or injured would you be able to pay potentially thousands of pounds to save them? Without a large savings pot it becomes part of every pet owners responsibilities as a fur parent to have pet insurance.
The simplest question to ask yourself when deciding whether to take out Pet Insurance is to ask yourself could you find the money if you had an unexpected bill?
If your pet was to develop an on-going condition or be injured, vet and specialist bills could become exceptionally costly and no fur parent would want to be put into the position where they could not treat or save their pet because of not having the financial provision in place to do so.
Most Pet Insurance policies are for dogs and cats, however insurance for smaller animals such as rabbits, hamsters etc are available but as these animals have shorter life spans the value of policies if often not as worthwhile as those taken out for dogs or cats.
Exotic animals are harder to insure as not as many insurance companies offer this, the same with venomous animals which in fact often attract owners taking out liability insurance.
Depending upon what pet you have – yes. Pedigree dogs and cats can be more susceptible to illnesses, hereditary conditions, congenital disease and sadly theft & injury.
If you are a dog owner you should also consider the breed of your dog as that can give an indicator of whether you may encounter the need for medical intervention during your pets life. For example, larger dogs can develop joint problems and smaller dogs such as pugs, shih-tzus, bulldogs etc can have respiratory problems.
When you take out a Pet Insurance policy you should always check if there is a certain number of days before the policy will provide cover, this is usually 14 days.
All policies differ and you should check the details carefully however the usual items included in cover will be….
You should be aware that you will still need to pay for regular treatments such as vaccinations and failing to do can impact any claim you make on your policy.
*Veterinary bills cover a wide range of eventualities and will vary from policy to policy but usually will cover the below…
Lifetime: This is the most comprehensive type of cover you can get. You pay premiums every year during your pet’s life and the insurer will have to keep covering your pet regardless of age or any existing conditions (subject to conditions). The payment may increase as your pets age increases.
Annual: This is where you pay for 12 months’ worth of cover on a rolling basis which enables you to switch providers every year. These kind of policies cost less but might offer less comprehensive cover and generally will not cover pre-existing conditions. You may also struggle to find insurance as your pet gets older.
Accident only: This is the most basic level of cover available and is also the cheapest. It covers accidents (such as your dog being hit by a car), but not illnesses.
A ‘claims basis’ explains how a Pet Insurance policy will pay vet bills. Policies can differ and the cover provided will be either
Per year: This provides a set amount of money towards veterinary treatment in each policy year. Once the limit is reached cover for the costs of treatment will stop and will not restart until the policy is renewed the following year.
Per condition: This provides a set amount of money towards veterinary treatment for each condition or illness within the policy year. Once the limit has been reached there will be no further cover for that condition or illness in later years.
Per condition, per year: This provides a set amount of money towards veterinary treatment for all conditions and illnesses in each policy year. If the limit is reached in the policy year, cover for the costs of treatment will stop until the policy is renewed the following year.
Per condition – no time limit: Unlike standard ‘per condition’ policies, these policies will pay out for conditions needing treatment year after year.
You should always remember that most policies will not cover pre-existing health conditions.
This varies depending upon the level of cover you would like and the type of pet. Factors to keep in the forefront of your mind should include
We are pleased to announce that we now have a dedicated Customer Experience Manager who is able to assist you…
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Hi all! Lou Potts here – Operations Director at Renew Life! I wanted to let you all know how proud…
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What should you be looking out for when considering a Life Insurance policy? Let us give you some top tips!
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We arrange over 250 policies per week and ensure that every single policyholder has an outstanding customer journey with us – take a look at some of our latest achievements here.
We have protected over 40,000 families!
July 2020
During Lockdown we raised £10,000 for the NHS!
July 2020
Rated 4.7 stars from all of our customers!
July 2020
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6 Riverside Studios, Amethyst Road, Newcastle Business Park, Newcastle Upon Tyne, NE4 7YL
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Why should you read this document?
During the course of dealing with us, we will ask you to provide us with detailed personal information relating to your existing circumstances, your financial situation and, in some cases, your health and family health history (Your Personal Data). This document is important as it allows us to explain to you what we will need to do with Your Personal Data, and the various rights you have in relation to Your Personal Data.
What do we mean by “Your Personal Data”?
Your Personal Data means any information that describes or relates to your personal circumstances. Your Personal Data may identify you directly, for example your name, address, date or birth, National Insurance number. Your Personal Data may also identify you indirectly, for example, your employment situation, your physical and mental health history, or any other information that could be associated with your cultural or social identity.
In the context of providing you with assistance in relation to your Insurance/Investment/Mortgage/Finance requirements Your Personal Data may include:
The basis upon which our Firm will deal with Your Personal Data
When we speak with you about your insurance/investment/mortgage requirements we do so on the basis that both parties are entering a contract for the supply of services. In order to perform that contract, and to arrange the products you require, we have the right to use Your Personal Data for the purposes detailed below.
Alternatively, either in the course of initial discussions with you or when the contract between us has come to an end for whatever reason, we have the right to use Your Personal Data provided it is in our legitimate business interest to do so and your rights are not affected. For example, we may need to respond to requests from mortgage lenders, insurance providers and our Compliance Service Provider relating to the advice we have given to you, or to make contact with you to seek feedback on the service you received.
On occasion, we will use Your Personal data for contractual responsibilities we may owe our regulator The Financial Conduct Authority, or for wider compliance with any legal or regulatory obligation to which we might be subject. In such circumstances, we would be processing Your Personal Data in order to meet a legal, compliance or other regulatory obligation to which we are subject.
The basis upon which we will process certain parts of Your Personal Data
Where you ask us to assist you with for example your insurance / ethical investments, in particular life insurance and insurance that may assist you in the event of an accident or illness, we will ask you information about your ethnic origin, your health and medical history (Your Special Data). We will record and use Your Special Data in order to make enquiries of insurance / investment providers in relation to insurance products that may meet your needs and to provide you with advice/guidance regarding the suitability of any product that may be available to you.
If you have parental responsibility for children under the age of 13, it is also very likely that we will record information on our systems that relates to those children and potentially, to their Special Data.
The arrangement of certain types of insurance may involve disclosure by you to us of information relating to historic or current criminal convictions or offences (together “Criminal Disclosures”). This is relevant to insurance related activities such as underwriting, claims and fraud management. We will use special Data and any Criminal Disclosures in the same way as Your Personal Data
generally, as set out in this Privacy Notice.
Information on Special Category Data and Criminal Disclosures must be capable of being exchanged freely between insurance intermediaries such as our Firm, and insurance providers, to enable
customers to secure the important insurance protection that their needs require.
How do we collect Your Personal Data?
We will collect and record Your Personal Data from a variety of sources, but mainly directly from you. You will usually provide information during the course of our initial meetings or conversations with you to establish your circumstances and needs and preferences in relation to investment/mortgages/finance. You will provide information to us verbally and in writing, including email.
We may also obtain some information from third parties, for example, credit checks, information from your employer, and searches of information in the public domain such as the voters roll. If we use technology solutions to assist in the collection of Your Personal Data for example software that is able to verify your credit status. We will only do this if we have consent from you for us or our nominated processor to access your information in this manner. With regards to electronic ID checks we would not require your consent but will inform you of how such software operates and the purpose for which it is used.
What happens to Your Personal Data when it is disclosed to us?
In the course of handling Your Personal Data, we will:
Sharing Your Personal Data
From time to time Your Personal Data will be shared with:
In each case, your Personal Data will only be shared for the purposes set out in this customer privacy notice, i.e. to progress your investment/mortgage/finance and/or insurance enquiry and to provide you with our professional services.
Please note that this sharing of Your Personal Data does not entitle such third parties to send you marketing or promotional messages: it is shared to ensure we can adequately fulfil our
responsibilities to you, and as otherwise set out in this Customer Privacy Notice.
We do not envisage that the performance by us of our service will involve Your Personal Data being transferred outside of the European Economic Area.
Security and retention of Your Personal Data
Your privacy is important to us and we will keep Your Personal Data secure in accordance with our legal responsibilities. We will take reasonable steps to safeguard Your Personal Data against it being accessed unlawfully or maliciously by a third party.
We also expect you to take reasonable steps to safeguard your own privacy when transferring information to us, such as not sending confidential information over unprotected email, ensuring
email attachments are password protected or encrypted and only using secure methods of postage when original documentation is being sent to us.
Your Personal Data will be retained by us either electronically or in paper format for a minimum of six years, or in instances whereby we have legal right to such information we will retain records
indefinitely.
Your rights in relation to Your Personal Data
You can:
How to make contact with our Firm in relation to the use of Your Personal Data If you have any questions or comments about this document, or wish to make contact in order to
exercise any of your rights set out within it please contact: support@renewfinancialmanagement.co.uk
If we feel we have a legal right not to deal with your request, or to action, it in different way to how you have requested, we will inform you of this at the time.
You should also make contact with us as soon as possible on you becoming aware of any unauthorised disclosure of Your Personal Data, so that we may investigate and fulfil our own regulatory obligations. If you have any concerns or complaints as to how we have handled Your Personal Data you may lodge a complaint with the UK’s data protection regulator, the ICO, who can be contacted through their website at https://ico.org.uk/global/contact-us/ or by writing to Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF.
