• Debt Awareness Week – 18-24 March

    Debt Awareness Week – 18-24 March

    This article was published on Tue 20 Feb 2024. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    Money worries are not just a financial problem they can cause relationships problems, people to lose homes and families to break down. People from all walks of life can end up in debt for many different reasons including divorce, redundancy, ill health, and bereavement. It’s not always easy to talk about money worries but if you’re struggling financially, it’s important to take action and this debt awareness week is an ideal time to do this.

    Debt awareness week was first launched in 2014 by the debt advice charity StepChange. If you’re worrying about money, there are things that you can do to get your finances back on track.

    For help on how to spend less click here to read our guide.

    Below are some tips on how to improve your financial wellbeing:

    • Take stock – where do you owe money and what are the interest rates.
    • Work out your budget – what money do you have coming in, what do you need to pay for and what’s left for paying off debt. Use our budget calculator here to help you manage your money. Set yourself a daily spend limit based on how much disposable cash you have each month.
    • If you’re looking to make savings – check that you’re not overpaying for your bills and utilities, where can you make savings, for more information use the link here.
    • Set up a separate bill account – transfer an amount each month to cover the cost of all your household bills. This will give you greater control over your finances and you ensure you do not make late payments.
    • Set yourself saving goals – saving regularly could provide you with a financial buffer for any unexpected bills or be used to save for short term purchases or long-term aspirations.
    • Check your bank balance – regularly, so there are no nasty surprises.
    • Review your mortgage – to see if you can reduce your monthly outgoings, check with your provider or an independent mortgage advisor.
    • Review your insurance – Why not see if you could save money by changing your home or car insurance provider.
    • Check your credit score – using one of the various companies available online including Experian, Equifax, or TransUnion. For more details on the impact of your credit profile click here to read our guide.

    Understanding your debts and how much you’re paying back is important. No debt problems are unsolvable and the earlier you deal with them the easier they are to deal with.

    Be aware of how you spend your money

    Stick to the golden rule of borrowing: don’t go into debt for something that will last for less time than the amount borrowed takes to pay back.

    Impact of debt on your mental health

    Worrying about money can negatively affect your mental health and for those people experiencing mental health problems it can make it harder for them to manage their finances. According to the Money and Health Policy Institute report ‘a silent killer’ problem debt can also be linked to suicide.

    It’s important to start talking about money worries before your situation gets worse. Talking about money will give you the confidence to get help and find out who can best advise you on any problems.

    It can give you a great sense of relief to share your problems, so you’re not facing them alone. It’s important to seek professional advice as soon as possible and not wait until it’s more difficult to find a solution.

    Do I have a debt problem?

    ✔ I find myself using my credit card for essential purchases, like food and bills and the card balance is not cleared at the end of the month

    ✔ I’m constantly worried about managing my money

    ✔ I’m behind on my mortgage and can’t catch back up

    ✔ I am struggling to manage even the minimum payments on my credit card

    ✔ I’m being contacted about unpaid bills or missed payments

    ✔ I’m relying on quick fix short-term loans

    ✔ I’m borrowing from friends or family.

    Getting help

    If you would like to talk to someone about debt, the following organisations are there for you:

    We’ve teamed up with PayPlan*, one of the UK’s leading free debt advice providers, who offer free and confidential advice to anyone in serious financial difficulties.

    They’re able to advise you on a range of debt solutions suited to your individual circumstances, helping to protect you and your family with a sustainable way to manage your debt.

    Get free and confidential help to combat your debt, call PayPlan* on 0800 197 8433. If you don’t want to talk on the phone, it is also possible to email them.

    StepChange is a debt advice charity providing full debt help service across the UK. Online support is also available.

    Citizens Advice provide a full debt and consumer advice service, many bureaux have specialist caseworks to deal with any type of debt.

    National Debtline is a charity that provides free and independent debt advice. It also has resources to help people deal with their debts. Advice is available over the phone, online and via webchat.



    *PayPlan is a trading name of Totemic Limited. Totemic Limited is a limited company registered in England, Company Number: 2789854. Registered Office: Kempton House, Dysart Road, PO Box 9562, Grantham, NG31 0EA. Totemic Limited is authorised and regulated by the Financial Conduct Authority. Financial Conduct Authority Number: 681263

    Want to learn more? Access our wellbeing hub here.

    Joanne Palmer

  • Spring clean your finances

    Spring clean your finances

    This article was published on Mon 19 Feb 2024. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    Not only is Spring the time of year where we look forward to warmer days and lighter evenings, but a time where traditionally we have a good clean and clear out.  And just like your home, your finances could also benefit from a good tidy up every once in a while.

    Here are some tips to help you get started on spring cleaning your finances. 

    1. Review your current financial situation

    Take a look at where you are now with your finances. How much money do you have saved? Do you have any current debts? What are your monthly outgoings? Understanding your current financial situation can help you focus on putting plans in place to spring clean your finances.

    Take the opportunity to review your paperwork, clearing out documents you no longer need and ensure you have access to important documents when you need them. If your documents are online make sure you know how to access them. 

    2. Review your budget

    A budget is a plan that helps you keep track of your finances each month, including what you’re spending your money on, allocating funds for emergencies and seeing how much you could save. Check if your budget still reflects your current circumstances or does it need adjusting?

    If you don’t have a budget, then now is a good time to make one. Take a look at our budget tool to help you get started.

    3. Assess your financial resilience

    Reviewing your insurance and protection arrangements is an important aspect to ensure you’re adequately protected in the event of the unexpected. Whether it’s life insurance and critical illness to cover income protection or health cover to ensure both you and your family are protected. If you do have cover in place, then make sure the cover still meets your requirements.

    We currently don’t provide Life Insurance or Critical Illness cover, but you can find out more about our discretionary Healthcare Scheme set up for members of the Police family to help with the cost of private medical treatment in the event of an illness.

    4. Managing debt

    If you have multiple debts, then aim to pay off the debt with the highest interest rate first. For credit card debt, you may be able to transfer to a different card provider that offers a better interest rate or better still a 0% rate, (although often this is for a limited time only and you may get charged a percentage on transfers).

    If you’re finding managing multiple debts difficult then a debt consolidation loan could help by consolidating your existing unsecured debt into one monthly payment, which could help you manage and keep track of your finances. 

    No1 CopperPot Credit Union provide a debt consolidation loan to members of the Police. You need to be a member of the Credit Union to apply for one of their loans. All No1 CopperPot Credit Union personal loans are subject to affordability and lending criteria and are not regulated. 

    If you’re struggling with debt then you can speak to PayPlan, one of the UK’s leading free debt advice providers, who offer free and confidential advice to anyone in serious financial difficulties.

    If you refinance any existing debts, you may pay a higher rate of interest or make repayments over a longer term. This means you may pay more interest overall.

    5. Check on your savings

    If you have a savings account, then check the level of interest your savings are earning and see if you could get a higher rate of interest for the same level of access, to give your savings a boost.

    If you don’t need access to your savings in the short or medium term, you could use a savings account that locks them away for a defined period, for usually a better interest rate than an instant access account.

    Do you have enough savings to cover you for an unexpected loss of income? Having around 3-6 months’ worth of household and living expenses saved could help ease financial worries if you unexpectedly lost your income. It’s not easy to prioritise saving, but even a small, regular amount saved is beneficial.

    If you don’t have one already, then starting a savings plan could be a good way to build this up. Find out more about the range of savings plans from No1 CopperPot Credit Union, where you can save from just £5 a month.

    6. Review household bills

    We’ve all seen household bills increase, so review your providers to see if you could get better deals on things like your broadband, or energy tariffs. Your car and home insurance is another area where you could shop around to get the best cover available. Find out more about our home and car insurance that’s exclusively available to the Police family.

    See if you’re still paying for any contracts like gym memberships, mobile phone contracts or streaming services that you no longer use and cancel any direct debits.

    7. Check your credit report

    Your credit report is a snapshot of the information that’s on your credit file. And this information is used by companies you already have a credit agreement with, and lenders you apply to, to make decisions about how good a risk you are.

    There are several different credit reference agencies, but the main ones are Equifax, Experian and TransUnion. Take a look at your credit report and check for any inaccuracies and amend them. A clean credit report is crucial for favourable financial opportunities.

    8. Review your beneficiaries on all accounts to make sure they are up to date

    A beneficiary is the person or entity that you legally designate to receive the benefits from your financial products. Another important aspect of financial planning is making sure your beneficiaries are up to date on all of your accounts. This includes things like your pension and insurance policies. If you haven’t reviewed your beneficiaries in a while, now is the time to do it.

    9. Planning for retirement

    If you’re currently a serving Police Officer then you’ll probably know when you can take your police pension, but what about any private pensions you may have? Check your pension documents to see what age you can access any private pensions and whether your forecasted pension will be enough for you to comfortably live on when you retire. If not, then you could look at increasing your pension contributions. You can check your state pension forecast here.

    By following our simple tips, you can get your finances in order this spring. So, what are you waiting for? Get started on your financial spring cleaning today. 

    Please note: This article is for general information only and does not constitute advice.

    Joanne Palmer

  • Improve your odds of getting your mortgage loan approved

    Improve your odds of getting your mortgage loan approved

    This article was published on Fri 09 Feb 2024. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    Are you thinking of applying for a mortgage soon? Navigating the mortgage application process can be difficult, with lenders having different criteria for assessing mortgage applications. Getting your mortgage loan approved depends on a range of factors including:

    • The size of loan you want to take out
    • How much you’ve saved as a deposit
    • Your employment status and income
    • Your credit rating
    • Your outgoings
    • Your existing debt

    We take a look at what steps you can take to boost your chances of getting your mortgage application approved.

    When should you start looking for a mortgage deal?

    New house purchase – If you’re looking to buy a house then the earlier the better! Start the process and speak to an advisor before viewing properties. That way you’ll not only know how much you can afford to borrow, but it could identify any hiccups early on to prevent any delays in getting a mortgage. You could also be at an advantage compared to other buyers if you have a mortgage already agreed in principle.

    Remortgaging – You should generally start looking for a remortgage deal no later than three months before your current deal ends. Moving to a new lender could take up to two months so you need to give yourself time to consider your options.

    What are the main reasons for a mortgage application being declined?

    • Poor credit history
    • Too many credit applications
    • Not on the electoral role
    • Too much debt
    • Insufficient income

    How can you improve your odds?

    It’s not easy securing a home loan as lenders apply affordability rules to ensure they offer mortgages that people can afford. The following tips could help you boost your mortgage chances.

    Get your finances in order– you need to be as financially attractive to lenders as possible. So getting your finances in order and reviewing your spending habits up to 12 months before you apply for a mortgage will help.

    Cut back on your spending as Lenders will ask for detail about your outgoings and are likely to ask to see your bank statements to verify what you’ve told them. This is to make sure you’d still be able to afford your mortgage if your circumstances changed. Your application could be rejected if you fail to show you’re managing your money responsibly.

    Manage your credit and pay bills off on time – Pay your credit cards and bills on time. Any missed payments can remain on your credit file for six years, so keeping up payments is a must. Setting up direct debit payments for credit cards can avoid the risk of you missing a payment.

    Check your credit report – Lenders will check your credit report(s) to see if you’ve got a good repayment history. Your report lists your credit cards, overdrafts, loans, mortgages, mobile phones and some utility payments for all accounts opened within the last 6 years. You can check your credit file at all of the three main credit agencies – Equifax, Trans Union & Experian.

    If you’ve applied for joint credit, such as a mortgage or bank account, then you will be financially linked to someone else. If you’ve since separated or have nothing to do with them then they could be affecting your credit score, so you’ll need to update your file. If you spot anything wrong with your credit file then you need to request an amendment.

    Are you registered to vote? – If you’re not on the electoral register then your chances of getting a mortgage could be reduced. Lenders will often use the register to confirm your current residency. Your credit report will tell you if you’re on the electoral role. If you’re not you can register here.

    Don’t apply for credit 6 months before applying for a mortgage – If you apply for a loan, credit card, utility contract or even a mobile phone then a search may be registered on your credit report, even if you don’t take out the contract. If your credit file shows multiple searches then this can reduce your ability to obtain credit. If you’ve had a payday loan in the last 12 months then you could be declined for a mortgage.

    Put down extra on top of your deposit – All mortgages have a maximum loan-to-value (the amount you borrow compared to what the property’s worth). Keeping the loan-to-value as low as possible – for example putting down a little bit more than the minimum deposit required – can make you more attractive to the lender.

    Get your paperwork organised – Lenders will need to see proof of your income before they can offer a mortgage so getting it ready in advance could speed the process up. Your lender may want to see any or all of:

    • Your last three months’ payslips
    • Your last three months’ bank statements
    • Proof of bonuses/commission
    • Your latest P60 tax form (showing income and tax paid from each tax year)
    • Proof of deposits (eg, savings account statements)
    • ID documents (usually a passport)
    • Proof of address (eg, utility bills or credit card bills)
    • A gift letter, this is where you receive part of your mortgage deposit as a gift. If you’re getting deposit help, the lender needs to know it is a gift (not a loan), and that the giver won’t part own the home.

    Joanne Palmer

  • Life insurance: some useful things you should know

    Life insurance: some useful things you should know

    This article was published on Mon 18 Dec 2023. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    If you’ve ever had a question about life insurance – what it is, and how much it might cost – you’re in the right place. Most people feel and understand the need to protect their loved ones when they die. A life insurance policy could be one of the ways to do that.

    How does life insurance work?

    Simply put, life insurance is a financial product that helps you to leave behind money for your family if you die while covered. It isn’t a savings or investment product and has no cash in value at any time. It pays out if you die or are diagnosed with a terminal illness within the term of the policy. The money could then be used to support your family in a variety of ways. It can perhaps help to replace the regular income they’ll lose when you die, or could go towards paying off a large debt, such as your mortgage.

    How much does life insurance cost?

    There are many factors that go into calculating how much your life insurance will cost such as your age, health, weight and smoker status. How much you pay also depends on the type of life insurance you take out and how long you choose to take out cover for (for example, 25 years). This means that your life insurance payments can range from a surprisingly low amount, to quite a lot more depending on what you choose.

    How do you claim?

    The process is different for life insurance providers. But generally, they follow these steps:

    1. The policy owner dies
    2. The family, beneficiaries or legal representatives contact the insurance company
    3. The insurance companies guide them through what is needed to pay out the money to the beneficiaries.

    How long this takes depends on how straightforward the claim is.

    What are the different types of life insurance?

    There are various types of life insurance to choose from. If you’re applying directly with an insurance provider, it’s important to select the most suitable one for your circumstances. If you’re using a financial adviser, they can guide you through this process.

    Need Advice? If you don’t already have a financial adviser, there are a number of directories that you can use to search for one in your area and according to their specialisms. Advisers may charge for their services – though they should agree any fees with you upfront. Whichever route you take, your age, health, lifestyle and how much cover you need will all determine how much you pay.

    Level term life insurance cover

    Level term insurance is probably the most common and the most straightforward type of life insurance. You can choose the amount you want to be insured for and how long you want the cover to last, and it’s designed to pay out if you die within the term of the plan. If you survive to the end of the policy term, the plan will end and you won’t receive anything back from it. The amount you’re covered for remains the same throughout the term.

    To give an example, you might choose a level term life insurance policy at 20 years for £80,000. This would mean that if you died at any time during that 20-year term, your loved ones would receive £80,000 if there was a valid claim and the policy payments were up to date. It doesn’t matter if you die after the first year or in the last year of the policy. The pay-out would be the same.

    Decreasing term life insurance cover

    With decreasing term life insurance (also known as mortgage life insurance), the amount you’re covered for decreases over the term of your policy. Your monthly payments remain the same, so you know exactly what you are paying each month. Typically, these policies are used to cover a debt that reduces over time, such as a repayment mortgage.

    Critical illness insurance

    Critical illness cover can be sold on its own or as an optional extra alongside life insurance. It’s designed to help you and your family if you’re diagnosed with a critical illness listed in your policy documents. You can receive critical illness insurance as a lump sum or an income, depending on what you choose when you take the policy out.

    If I’m single, do I need life insurance?

    If you’re single, you may think you don’t need life insurance, but there are times when it’s a good idea. For example, by taking out a plan to cover the cost of your funeral, and reduce what could be a significant financial burden on your loved ones.

    And, if you’re a single parent, your life insurance could help towards your children’s needs if you were no longer around. And, as they get older, a life insurance pay-out could help with university costs, or perhaps driving lessons or even money towards a deposit on their first home.

    If I’m single with no children, what’s the point of taking out life insurance?

    Life insurance can also be used to clear any outstanding debts you may have, regardless of your relationship status. You can also get life insurance that includes income protection or critical illness cover, which could give you financial support when you need it most.

    Isn’t it better to set money aside for savings rather than buy life insurance?

    Think of term life insurance as a practical addition of a wider financial plan. Cover typically starts immediately for the full value of the policy. So if, for example, you took out £80,000 cover, your family could receive that amount whilst the cover is in place.

    Putting money aside for a rainy day is different. Most savings accounts could help with problems like fixing a broken-down boiler or car. It probably wouldn’t offer your family the same level of financial protection as life insurance would, in the event of your death.

    Life insurance may be cheaper than you think. With prices starting as low as a few pounds each month, your family can be protected and have money to help them with bills and other living expenses in the event of your death.

    Is it true that life insurance companies don’t like paying out to beneficiaries?

    There is a misconception that insurance companies don’t pay out. In cases where they don’t, it’s usually due to irregularities at the point of application. This could be due to downplaying or omitting a medical condition, or premiums are not up to date, or a plan has expired.

    Life insurance can provide some financial support to your loved ones if you pass away whilst covered. If you’re thinking about taking out a plan but not sure which one, you can discuss your options with an adviser before getting your policy.

    I’m 50. Am I too old for life insurance?

    The maximum age for buying life insurance can vary between insurers. Age limits can also depend on the type of insurance you’re looking for. Regardless of your age, there’s a good chance you’ll find a suitable life insurance plan – even if you think you are too old.

    Joanne Palmer

  • Royal London announces sale of Police Mutual Healthcare and Police Mutual General Insurance businesses to Bspoke Group

    Royal London announces sale of Police Mutual Healthcare and Police Mutual General Insurance businesses to Bspoke Group

    This article was published on Wed 29 Nov 2023. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    The Royal London Mutual Insurance Society Limited (Royal London), the UK’s largest life, pensions, and investment mutual today announces it has reached agreement with Bspoke Group regarding the sale of the general insurance and healthcare elements of the Police and Forces Mutual businesses (Police Mutual Healthcare (PMHC) and Police Mutual General Insurance (PMGI)).

    The transaction will see over 250,000 general insurance policies and c16,000 healthcare policies transfer to Bspoke Group, subject to regulatory approval.

    Siobhan Barrow, UK Distribution Director commented:

    “We are delighted to have reached agreement with Bspoke Group on this transaction on the general insurance and healthcare elements of the Police and Forces Mutual businesses.

    “These are not central to our core business of protection, long-term savings and asset management. Customers will be better served by an expert in those GI and Healthcare markets. Central to our considerations has been finding a buyer with the right strategic and cultural fit, and who recognised the heritage of the businesses.”

    Tim Smyth, Bspoke Group CEO, said:

    “With a 150-year history, PMCH and PMGI are both highly regarded and trusted names within the police and military sectors, and we are thrilled to have secured their purchase.

    “This type of specialist product fits perfectly within the Bspoke Group portfolio. It was always our intention to combine organic growth with acquisitions where they have a clear strategic fit to our long term aims.”

    Customers’ policies and impacted colleagues are expected to transfer to Bspoke in early 2024. There is no immediate change for customers and all servicing and claims will continue to be processed in the usual way.

    Royal London and Bspoke will provide updates to customers as the sale progresses.

    For further information please contact:

    Lora Coventry, Senior PR Manager

    Email: lora.coventry@royallondon.com

    Mob: 07919 170673

    About Royal London

    Royal London is the largest mutual life, pensions and investment company in the UK, and in the top 25 mutuals globally, with assets under management of £153 billion, 8.6 million policies in force and over 4,100 employees. Figures quoted are as at 30 June 2023.

    About the Bspoke Group 

    The Bspoke Group brings together a collection of multi-class niche and specialist MGA insurance businesses, each clearly focussed on individual product specialisms and run by highly experienced and technically skilled underwriting teams. Their product range includes property, leisure, lifestyle, commercial and trades, haulage and transportation and they are able to offer distribution options for brokers, affinities and schemes.

    Their structure and focus on IT and data enables the Group to operate as a ‘virtual Insurer’, with full sales, underwriting, pricing, business intelligence and reserving capability, and is uniquely positioned to understand, manage and deliver superior performance outcomes for their business partners. By being focussed on long term and profitable underwriting, they are proud to have built strong relationships with their ‘A’ rated capacity providers. These partnerships provide support and flexibility for innovation, the appetite to drive new trading opportunities and delivers the financial strength and consumer protection you would expect from market leading insurers.

    The Bspoke Group head office is based in Leeds, West Yorkshire with subsidiary offices in Shropshire, Gloucestershire, Essex and London.

    Bespoke website – bspokegroup.co.uk

    Joanne Palmer

  • Mortgages for the Police family – Frequently Asked Questions

    Mortgages for the Police family – Frequently Asked Questions

    This article was published on Thu 26 Oct 2023. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    With so many mortgages on the market, you may have a lot of questions when you first start doing your research. It’s hard enough to find the time when you’re working 9 to 5 and it can be even tougher if you’re working all hours in your role with the Police.

    Can I get a ‘guarantor mortgage’?

    There’s actually no such thing as a ‘guarantor mortgage’ as such. However, it’s not uncommon for people, especially first-time buyers to turn to their parents for financial support. Sometimes this could mean your parents contributing towards the deposit you need to put down. But it could also involve them acting as ‘guarantor’ on any mortgage you take out. This means that they would be responsible for making payments on your mortgage, if you were unable to. If you think you’ll need financial help from your parents when taking out your mortgage, it’s worth having a chat with a mortgage advisor.

    What size of mortgage can I get?

    The amount of money you can borrow depends on a number of factors, including your income, credit rating, how much of a deposit you can put down and the value of the property you wish to buy. Traditionally lenders would lend no more than four times your salary, however many have individual affordability calculators which will help you establish roughly how much you could borrow.  

    Do I have to have worked in the Police for a certain length of time before applying for a mortgage?

    Broadly speaking, the longer you’ve been in your job the better, as far as mortgage lenders are concerned. Lenders require proof of your income before approving a mortgage application. They may ask to see up to 3 months worth of payslips. If you have been in your role for less time than that, you might need to provide other evidence to support your application. That said, there are some lenders who will consider mortgage applications from people who have only just started their career in the Police.

    Can I get a joint mortgage?

    If you and your partner are looking to buy a home together, it makes sense to get a joint mortgage. The biggest advantage in doing so is that it could increase your buying power. This is because the amount of money you can borrow is based on your income (amongst other things). So, when considering your application, your mortgage provider will look at you and your partner’s combined salary.

    How much of a deposit do I need?

    The amount of deposit you will need to buy a home depends firstly on how much the property you wish to purchase is valued at. This can be around 15% of the property value.

    Joanne Palmer

  • World Mental Health Day – 10 October 2024

    World Mental Health Day – 10 October 2024

    This article was published on Sun 01 Oct 2023. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    Mental health problems can affect anyone, any day of the year, but 10 October is a great day to show your support for better mental health and start looking after your own wellbeing.

    World Mental Health Day is run by the World Federation for Mental Health and takes place on 10 October each year. The theme for this year’s event is ‘It is Time to Prioritise Mental Health in the Workplace’. For more details click here.

    Today is an opportunity for people to talk about all aspects of mental health, how we need to look after our own and others wellbeing, and how important it is to talk and get help if you are struggling.

    Taking care of your mental health is as important as taking care of your physical health.

    Mental health problems affect one in four of us*, yet many people can feel isolated, ashamed and worthless because of this. Poor mental health can affect anyone, of any age, gender or background. They range from common problems, such as depression and anxiety, to rarer problems such as schizophrenia and bipolar disorder.

    It is important that we all as individuals do what we can to look after ourselves and each other. You may have concerns about how others are coping.

    Starting a conversation with someone around their mental health can feel daunting. You may be worried that you will say the wrong thing but remember saying nothing is far worse.

    Like adults, the emotional wellbeing of children and young people is just as important as their physical health. Good mental health will allow them to develop the resilience to cope with life’s ups and downs and to grow into well-rounded, healthy adults. For more details on supporting your children, read our Children’s mental health guide here.

    According to the Police Federation, research has shown that emergency services workers are twice as likely as the public to identify problems at work as the main cause of their mental health problems, but they are also significantly less likely to seek help. So during it’s even more important to look after your own mental health when working on the frontline.

    Here are some tips

    • Think about your purpose: Be clear about why you are doing this job.
    • Be clear on expectations: Make sure you know what is expected of you and whether it is realistic.
    • Keep your boundaries: Establish clear boundaries between work and personal life, don’t take work home with you.
    • Talk to colleagues: Make time to talk to your colleagues about your experiences and share fears and concerns.
    • Value your own family and relationships: While work is important, your family and relationships need to be valued.
    • Exercise: Regular exercise can boost your self-esteem, can help you concentrate, relax and increase
    • your overall wellbeing.
    • Get plenty of sleep: Sleep helps regulate the chemicals in our brain that transmit information. These chemicals are important in managing our moods and emotions and an imbalance in those chemicals can result in us becoming depressed or anxious. Read our sleep guide here.
    • Eat well: A balanced diet that is good for your physical wellbeing is also good for your mental wellbeing. Your brain needs a mix of nutrients to stay healthy and function well. For more information read our guide here.
    • Avoid alcohol: The numbing effects of drinking are only temporary and can often lead to mental health issues. It’s advised that if you do drink, that you stay within the governing bodies recommended unit guidelines.
    • Keep in touch: It’s good for you to catch up with friends and family face to face or over the phone.
    • Take a break: A change of scenery or pace is good for you.
    • Do something you’re good at: Enjoying yourself can help beat stress.
    • Care for others: Supporting others uplifts you as well as them.
    • Ask for help: If at times, life gets too much for you, it’s important that you speak to someone, this may be a family member or trusted friend, your GP or a professional organisation, see the list at the end of this guide for details.

    Making positive change is important but it’s difficult to know where to start. Do one thing today, whether it’s going for a walk, learning a new skill or doing something creative, taking the first steps to getting support for yourself, or reaching out to someone else, take the opportunity to do one thing this World Mental Health Day.

    Whatever you’ve been through this year, World Mental Health Day is a chance to make a positive change for your mental health.

    Where to get help:

    * The Five Year Forward View for Mental Health report from the independent Mental Health Taskforce to the NHS in England, February 2016.

    Want to learn more? Access our wellbeing hub here.

    Joanne Palmer

  • Five reasons life insurance is worth it

    Five reasons life insurance is worth it

    This article was published on Wed 13 Sep 2023. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    No one likes to think about a time after they’ve gone, but life insurance could offer reassurance and comfort for your loved ones if you die while covered, helping to ease any financial worries at a difficult time.

    The cost of life insurance varies and this can mean many people don’t think about buying any at all, but this can be a mistake. It’s possible that your dependents or next of kin may become financially responsible for any outstanding debts or expenses like childcare costs, a mortgage, medical or care costs for elderly parents, or even to pay for your funeral. Even if you’ve been careful with your finances and have no outstanding debts, you may want to leave your loved ones a legacy towards their future.

    There are different types of life insurance; some provide a fixed amount of cover for the whole term of the policy (the agreed length of time of your policy), while others slowly reduce the amount of cover over time. Often, you can combine buying a life insurance policy with critical illness insurance or serious illness benefit to cover you if you are diagnosed with a serious illness such as a heart attack or stroke. The list of illnesses and the definitions used varies between insurers so check what illnesses are covered before buying.

    Here are five good reasons to have life cover:

    1. It can be surprisingly affordable

    Contrary to what most people imagine, life insurance can be an inexpensive way to protect you and your family. It can be even less than you think.

    You can buy life insurance yourself without advice. You can buy it online, over the phone, or via a paper application. If you choose to buy it through a financial advisor, then expect to pay a fee. The extra cost of a financial advisor might be worth it in the future by helping you to reach a decision that works best for your situation.

    2. It offers protection and peace of mind

    With a policy in place, life insurance could pay out money to your loved ones when you die. They might use a payout from a life insurance policy to pay off an outstanding mortgage or cope with regular bills. If you have children, a partner or others who depend on you financially (such as an elderly relative), it can help make sure they’re taken care of if you die.

    A life insurance pay out can be useful for loved ones after your death, because it will be a very difficult time, emotionally and financially. Having to worry about bills and debts while coping with the loss of a loved one is difficult, and a life insurance pay out can help to ease financial worries.

    Also, some policies pay out early on the diagnosis of a terminal illness. This would enable you to spend time with loved ones without having the financial worry.

    3. Different types of cover available

    There are three main types of cover:

    Level Term Life Insurance –
    This offers a fixed amount of money, covering you over a fixed period of time that you pre-select.  If you die within the chosen time period, known as the ‘term’, the policy pays out a lump sum to your beneficiaries.

    This gives you the certainty of knowing how much the pay-out will be. However, it won’t increase with inflation, so in the longer term it might be worth less against the rising cost of living.

    Decreasing Term Life Insurance –
    This is another type of fixed-term policy aimed at people whose financial commitments reduce over time – for example, if you’re repaying a mortgage. Decreasing term life insurance is a term life policy where the death benefit payout decreases during the time the policy is in place, so the payout gets smaller over time.

    Whole of life insurance –
    Also known as ‘life assurance’, is a  policy that lasts for the rest of your life and pays out if you die (as long as you’re kept up with monthly payments). This type of life insurance could offer you certainty that there’ll be a financial payment to your family, but can be more expensive than other options.

    4. Support your children’s future

    We all want to be there to help our children when they need it most, whether that’s supporting them through university, or buying their first car. But if you were to pass away before your children grow up, you can still help support them if you have life insurance in place.

    5. You would need a lot of savings to get the equivalent payout amount

    You could help the family save or invest to build up an emergency fund. However, most people don’t have enough surplus cash, or the time to build up the same amount of money that a life insurance policy could pay out. A relatively small monthly payment can give protection and could help the family with bills or debts.

    You must remember though that life insurance has no cash-in value at any time, it’s a protection policy only. If you stop making payments your cover ends and you won’t get anything back.

    Joanne Palmer

  • Budgeting: Making the most of your money

    Budgeting: Making the most of your money

    This article was published on Wed 08 Feb 2023. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    Are you struggling to manage your money? Do you wonder where it all goes each month? Then having a budget could help. If you’re not sure where to start don’t worry, we have some helpful information on budgeting right here for you!

    It’s estimated that around 34% of Police Officers and Staff in the UK have below average levels of financial awareness*. To help, we think the below guide on budgeting could be a great way to start when trying to stay on top of your finances.

    By keeping track of how much money you have coming in (your income) and how much money you have going out (your spending) you can get a clear picture of your finances and take control of your money.

    Please remember, if you are struggling with debt then no matter how big you feel the problem is there is help at hand. We have provided some resources at the end of this article which we believe could be helpful. Our friendly Financial Wellbeing Consultants also frequently visit local stations up and down the UK so take advantage and speak to them!

    Why budget?

    Budgeting can help you:

    • See exactly where your money goes
    • Spot overspending or when you’re paying for things you no longer need or use
    • Live within your means – you can adjust your spending when necessary
    • Work out what you can afford
    • Plan for big expenses such as Christmas, holidays and annual bills
    • Save when you can for the future

    Drawing up a budget

    You can create a budget using pen and paper, a spreadsheet or with the help of an online budget planner. We also have our own budget calculator to help you with drawing up your budget following the steps below!

    Budgeting can be harder if you or the person you live with has an income that varies – for example, on a zero-hours contract, are self-employed or on certain benefits. Get tips on how to budget if your income goes up and down.

    Gather together useful information: Include details of any income you receive (salary, pension, benefit payments and income from savings and investments), as well as household bills, food bills, credit card statements, insurance costs and so on.

    Identify all your income: This is money you regularly receive. Work out your total income after tax to see how much you have to spend. If you receive any irregular or unpredictable income such as over-time or gifts from family, think carefully before including it in your budget as you cannot always rely on it. It may be better to put this to one side.

    Work out your spending: Make a list of everything you spend. As well as regular spending, this can include occasional spending such as for Christmas, holidays and meals or days out. Work out how much you spend on average and then calculate how much you need to set aside for each relevant occasion. This can vary so you might only set aside a certain amount and stick to this!

    Take your spending away from your income: This may result in you having a surplus each month which is great. If not, and your spending is higher than your income, then you should look to take action where possible. 

    Ways to increase your income

    There are various ways you may be able to boost your income but we understand all these are not options to many of you in the Police, but they may be helpful and appropriate for your family.

    • If you’re working, you may be able to increase your hours or pick up some overtime where it suits your schedule. If you’re not working, you may be able to get a part-time job that suits your needs and gives you an income.
    • Check you’re claiming any benefits or other financial help you’re entitled to. If you’re on a low income you may be entitled to some form of income support or help with your housing costs. If you care for someone, are in poor health or your household changes (e.g., someone moves out or dies) you may be entitled to other benefits. To find out more about benefits and check your benefit entitlements use one of the government’s benefits calculators.
    • If you have a spare room in your home, you may be able to rent this out. You can earn up to £7,500 in rent before you have to pay tax on this money. Find more about the government’s rent a room scheme.

    Ways to cut your spending

    If you can’t increase your income, you may be able to cut your spending.

    • Check your budget for any over or unnecessary spending.
    • Divide up your spending into needs and wants. Needs are things you have to pay for such as rent and food, wants are things you could do without at a push. Once you’ve worked out your essential spending (your needs) you can then see how much cash you have left for other things (your wants).

    If your circumstances change

    It’s a good idea to regularly review your budget as your income and spending patterns can change. You may also find that prices go up which affects how much you are spending in total and what money you have left over.

    Your circumstances might change if someone moves in or out of your household, you cut your working hours or stop work altogether, your health deteriorates, you start to receive extra income such as the State Pension or a private pension.

    Money saving tips

    Here are some tips for saving money on household bills.

    • Take advantage of supermarket offers, money-saving vouchers and retail discounts. Find out more on MoneySavingExpert.com.
    • If you need help with energy bills visit the energy regulator’s website at ofgem.gov.uk. To find ways to save energy in your home visit gov.uk for details.
    • Not everyone has savings but if you do, ensure your savings are earning the best rates of interest by a using price comparison website. For a useful guide on using price comparison websites, see the MoneyHelper.

    Useful Resources

    Support with debt:

    You can find more on budgeting at:

    You can find budget planners at:

    *Source: Experian Data and Police Mutual Database – January 2023

    ^ PayPlan is a trading name of Totemic Limited. Totemic Limited is a limited company registered in England, Company Number: 2789854. Registered Office: Kempton House, Dysart Road, PO Box 9562, Grantham, NG31 0EA. Totemic Limited is authorised and regulated by the Financial Conduct Authority. Financial Conduct Authority Number: 681263

    Joanne Palmer

  • International Day of People with Disabilities – 3 December 2022

    International Day of People with Disabilities – 3 December 2022

    This article was published on Thu 01 Dec 2022. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    International Day of Disabled Persons is the 3 December 2022. First launched in 1992, the event is in its 29th year of marking meaningful change for the disabled community.

    International Day of Disabled Persons recognises visible and invisible disabilities, to promote the importance of inclusion in life and the workplace. The day is hosted by the United Nations (UN) and encourages business leaders across the globe to value the unique contributions of disabled people.  For more information click here.

    The day is about promoting the rights and wellbeing of persons with disabilities, and to raise awareness of the situation of persons with disabilities in all aspects of life. The World Health Organisation (WHO) joins the UN in observing this day each year, highlighting the importance of securing the rights of people with disabilities, in order for them to participate fully, equally and effectively in society, and face no barriers in all aspects of their lives.

    Why International Day of People with Disabilities is important

    • Celebration – to recognise and value the diversity of our global community, and to celebrate the role we all play, regardless of our abilities.
    • Learning – to understand and learn from the experiences of people living with a disability.
    • Optimism – to look forward to a world where a person is characterised by their abilities not their disabilities.
    • Awareness – to build awareness of people with disabilities, as people with disabilities sometimes feel invisible in our society. To reduce any stigma and discrimination those with disabilities may feel.
    • Legal – Under the Equality Act 2010, which prohibits discrimination against people with the protected characteristics that are specified in the Act. Disability is one of the specified protected characteristics.

    Just because you can’t see it, doesn’t mean that it is not there

    Annually WHO decides on a theme, in 2022, the theme is ‘Not All Disabilities are Visible’. Some disabilities, like mental health disorders, chronic pain and fatigue, are invisible, but that does not make them any less devastating to someone’s quality of life.  

    Non-visible disabilities, also known as invisible or hidden disabilities are not immediately obvious. They can be physical, mental, or neurological and include, autism and Asperger syndrome, cognitive impairments such as learning disabilities and dementia, mental health conditions and speech, visual impairments or hearing loss, as well as many other conditions.

    They also include respiratory and chronic conditions such as asthma, diabetes, chronic pain and sleep disorders when these significantly impact day-to-day life. Some physical disabilities are not always visible until in their later stages, this includes conditions like Multiple Sclerosis.

    And often, many people experience a combination of both visible and non-visible impairments and conditions.

    Globally 1 in 7 of us live with a disability. And of those, 80% are invisible. That is 1 billion people who are living with a non-visible disability.

    The more we all understand about both visible and non-visible disabilities, the more we can help to improve the lives of people experiencing them. Some people with a non-visible disability choose to wear a Sunflower lanyard with details of their condition.  For more details click here.

    Overall, the day is to help everyone become more compassionate and understanding of the challenges faced by people with disabilities. To ensure that all people in the world have equal opportunities for work, play, health, and success. To appreciate that people with disabilities are valued members of society.

    Getting information, help and support

    Want to learn more? Access our wellbeing hub here.

    Joanne Palmer