Life insurance is already one of the most affordable forms of cover, but there are ways to cut the cost of your premium still further.
Lloyds shares sale moving closer
Lloyds Banking Group recorded pre-tax losses of 570 million pounds in 2012
The sale of taxpayer-owned shares in Lloyds Banking Group looked to be a step closer despite the lender's £6.8 billion PPI mis-selling scandal sending it to another big loss.
Lloyds said it remained in the red with £570 million of losses in 2012 after taking more mammoth mis-selling provisions.
In a move further fuelling anger over bank bonuses, the group revealed a £1.5 million shares award for boss Antonio Horta-Osorio and said staff will share out a £365 million total pot.
But one of the conditions for Mr Horta-Osorio's payout is that the Government must have sold at least a third of its stake above 61p - the average price at which shares were bought during the bank's bailout in 2008. The target price is far lower than previously thought and raises the prospect of an imminent return to the private sector, with shares currently above 50p despite a 6% fall.
Fellow state-backed player Royal Bank of Scotland on Thursday also fuelled taxpayer hopes as it claimed the group would be fit for the Treasury to start selling down its 81% holding by the end of 2014, although the Government stressed it had no timetable for a stake sale.
A Treasury spokesman said: "The Government's strategy remains to see Lloyds continue the progress it has made in reforming itself into a strong and sustainable bank that supports the British economy, which in time can be returned to full private ownership.
"Today's results show that it is making strong progress in improving its core underlying performance and strengthening its balance sheet, but that there is still work to be done as it continues to deal with the legacy of the past."
Lloyds was the top-performing FTSE 100 stock last year after shares surged 80% in 2012 and Mr Horta-Osorio said he was "very confident" taxpayers will recoup their cash.
On an underlying basis, the results showed group profits surging from £638 million to £2.6 billion in 2012, but bottom-line losses came as it set aside another £1.5 billion for compensation relating to payment protection insurance (PPI) and another £310 million for interest rate swap mis-selling claims in the fourth quarter alone.
Total mis-selling provisions have now reached £6.8 billion for PPI after Lloyds put by £3.6 billion in 2012, with £400 million overall for the swaps scandal.
related stories on msn
I am self employed and if I make a loss, which is not too far away, my business will have to close!
Never mind paying staff bonuses.
Same old same old, WE pay the bonuses as tax payers and unfortunately that will never change.
Same as the utility companies and oil companies keep puting prices up. Nothing will change!
WHY. because most of the politicians have got Shares in these conpanies and are getting a nice dividend.
Me. I will battle on regardless just like MILLIONS like me in this ****house of a country.
Somebody please tell me what is going on?
Big losses = big bonus???? Big losses should = the sack
However, banking is the pet love of all of the tories and so nobody should be surprised.
The bank will get its money back - it will simply make a couple of hundred people redundant
God help us!!!!!
Can these persons who receive the bonuses of any kind explain how can you pay money you have'nt got , surely if there is a loss of this magnitude there cannot be any money in the bank ( sorry about the use of the word bank ) perhaps they have an Aladdins lamp ! and the GENIE pops out to grant them their wishes which would benifit everyone if they made a wish for the banks to make a profit instead of looking after number one . I was always told you only receive a bonus if you succeed and the failure lay with the leader who normally got shown the exit .
I'm afraid while there is this culture of sheer greed nothing will change .
REPLY TO, Someone (slim tim)
THE EXPLANATION IS SIMPLE, THEY ARE 'ALL IN IT TOGETHER' WHILST WE ARE ON THE OUTSIDE LOOKING IN. WHO ARE THEY?
MP's, OF ALL PARTIES, WHO ARE IN THE POCKETS OF BIG BUSINESS & ARE COMPLETELY SPINELESS, GUTLESS & WITHOUT MORALS. THEY WILL DO PRECIOUS LITTLE ABOUT THE BANKS AS THEY WON'T 'ROCK THE BOAT' FOR FEAR OF UPSETTING BIG BUSINESS & NOT BEING ABLE TO WALK INTO 'SOFT' DIRECTORSHIPS WHEN THEY HAVE FINISHED 'MILKING' THE PARLIAMENTARY SYSTEM.
LLOYDS HAVE SH IT ON THEIR INVESTORS & NOT PAID ANY DIVIDEND FOR YEARS, SUPPOSEDLY DUE TO LACK OF FUNDS, BUT THEY HAVE THE MONEY FOR MULTI MILLION POUND BONUSES.
ROLL ON THE REVOLUTION
Do you really think that the Banks are making a real loss. These losses are only due to increased provisions for write offfs, bad debts and mis-selling. it is creative accountancy. Most of the areas in the bank are in profit. Also do you really think that the wee person on the front line gets a massive bonus anyway?
Average bank staff are mostly on just a liitle above minimum wage. These reports are just to cause a stir as usual!!
Old Gat & others. Point of information. Lloyds shareholders currently do not get dividends at all, and this has been the case for a few years now. The figures are better because of sell-offs and mass redundancies, mostly, so I'm not sure these bonuses are well-deserved.
more on msn money
msn money poll
New research has found that families are spending an average of £180 on back-to-school supplies for their kids. Does this tally with your experience?
Thanks for being one of the first people to vote. Results will be available soon. Check for results
- Yes, that sounds about right to me
- Yes, but I think school supplies are getting more expensive every year
- No, the cost of new uniforms, stationery and sports kit takes us well past the £200 mark
- No, I wouldn’t spend anything like that amount on the little horrors!