Almost half of us experience a ‘life crisis’

Almost half of us experience a ‘life crisis’

The Open University urges us to pursue our dreams:

· Unfulfilled dreams and ambitions top list of ‘life crisis’ causes

· A fulfilling career and taking up interests key to overcoming ‘life crisis’

Almost half (44%) of the British public have either had or are going through a ‘life crisis’, a poll recently commissioned by The Open University reveals today. To help people restore their personal balance, The Open University is urging people to discover their ‘Plan P – their ‘Passion Plan’ – and realise their unfulfilled ambitions.

However, it’s not just those midway through their lives who have suffered a ‘life crisis’ and need to re-ignite their passions. Almost a third of those surveyed (29%) have been through a ‘life crisis’ between the ages of 18 and 30, suggesting millennials are particularly susceptible.

When asked what factors caused their ‘life crisis’, a lack of career fulfilment and unfulfilled dreams topped the list. To combat this, 39% said embarking on a new career would help solve their issues and 24% said learning something new would have the same effect.

Whilst over two thirds of those surveyed wish they spent more time pursuing their personal passions, 27% don’t think they have time to do so, with long hours of work and social pressures swallowing up free time. One in ten of those surveyed do not have any personal passions or interests outside of their career, however 41% said that taking up a new interest or hobby would help address their ‘life crisis’.

As a result, The Open University is today urging people to explore their interests by learning something new or pursuing further study in order to address the issues associated with their ‘life crises’, start realising their ambitions and to discover their ‘Plan P’.

Clare Riding, Head of Careers and Employability Services at The Open University said: “Almost two fifths (39%) of people cited embarking on a new career as a solution to their ‘life crisis’ so whilst finding a career you love can be challenging, it is also deeply rewarding. Taking time to explore your interests, both in and out of work, will help you to realise your career ambitions and will support you in finding the role that’s right for you.”

Alan Campbell Olympic Rower

Alan Campbell, Olympic rower and Open University student said, “As an athlete there will come a time that you can no longer compete at international standard, so there has to be something beyond sport. Not only this but in a high pressure, competitive career such as elite sport, you need to have other passions that keep your mind alert and focused outside of work. Rio 2016 will be my last Olympics but this isn’t a year of endings for me, it’s a year of beginnings too. I will complete my BA (Hons) in Leadership and Management with The Open University this year and can’t wait to see what new journey this will take me on.”

Are Age UK overcharging their customers for travel insurance?

Leading independent price comparison website PayingTooMuch.com thinks they might be!

Travel insurance from Age UK is nearly double the cost of a comparable policy from PayingTooMuch.com, potentially leaving customers feeling ripped off and perhaps even putting them off going on holiday.

A two week single-trip policy for a 78 year old male, with pre-existing medical conditions*, to the Canary Islands was £158.16 from Age UK, whereas the same level of cover from PayingTooMuch.com was £79.94.

If you are prepared to reduce cancellation cover from £5k to £3k (more than enough for most travellers) and baggage cover from £2k to £1k, PayingTooMuch.com can provide a policy for only £49.49, which is 31% of the price of Age UK’s policy, whilst still retaining the same level of medical cover (£10m).

Age UK has been under pressure recently due to their energy partnership with E.ON. Regulators are investigating Age UK as their recommended energy tariffs appear to be more expensive than shopping direct with E.ON. and much more than if customers shopped around.

 According to Age UK’s annual report they provided home, car and travel insurance products through Ageas to nearly half a million customers, generating commissions of £18.8m (net) for themselves.

In a statement Age UK answered some of the criticism levelled at them, replying that they never claim to be the cheapest, but provide “competitively priced, quality products and services but we never claim to be cheapest at all times. …. the products are designed to be relied on by older people in an ever changing marketplace.”

Michael Ward, managing director of PayingTooMuch.com, comments:

“Age UK has admitted that they are targeting their products at ‘older people’. Often elderly people do not have access to the Internet and rely on telephone sales, where they are given only one price.

Our elderly customers much prefer using PayingTooMuch.com’s telephone quote service, where they get a range of prices and discuss the options available.
“Age UK has taken advantage of their trusted brand status and is potentially overcharging customers for their energy and insurance premiums. My best advice is to shop around to find the best price for your circumstances. Sometimes you can be ripped off by the brands you ought to be able to trust the most, which shouldn’t be allowed.”