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Public sector workers now earn about 6 per cent more than their private sector counterparts — triple the gap seen at the start of this year — according to new analysis by the Resolution Foundation.

The think tank’s research indicates that a series of generous wage settlements under Sir Keir Starmer’s Government have widened the gulf between the two sectors.

The revelation is likely to fuel concerns that Whitehall is prioritising union demands over taxpayers, who have faced a £40bn tax raid in Rachel Reeves’s maiden Budget. Next year’s pay negotiations are already shaping up to be contentious, with teachers and medical professionals threatening industrial action over the Chancellor’s proposed above-inflation pay rise, which they consider insufficient.

Data shared by the Resolution Foundation show public sector monthly pay — in health, education and public administration — recently exceeded £2,640, compared with around £2,500 in the private sector. This shift has been driven largely by settlement deals for key groups such as junior doctors, who accepted a 22 per cent rise over two years, and train staff, who secured a 14 per cent deal and a halt to certain workplace reforms.

Mike Brewer, interim head of the Resolution Foundation, said: “Private sector pay has risen gradually over the past year, but the real change in the public sector happened in October, when NHS pay settlements took effect.”

However, critics warn that generous settlements risk fuelling inflation, undermining the Bank of England’s plans to bring down the cost of living, and draining the extra revenue from Ms Reeves’s tax increases without producing the anticipated investment in public services. The Bank recently cautioned that lingering uncertainties around pay threaten to delay potential interest rate cuts, while the Government has refused to rule out further tax rises.

Central government staff costs jumped to £18.3bn in November — a £2.4bn surge compared to last year, official data show. Ministers are under renewed pressure as departments consider a 2.8 per cent pay uplift next year, slightly higher than the projected 2.6 per cent inflation rate but still short of union expectations. The British Medical Association called the proposals a “very real risk of further industrial action,” while teaching unions and nursing bodies issued similar warnings.

Any larger pay offers would intensify pressure on the public purse. The Office for Budget Responsibility expects total government spending to increase by £239bn by 2030, surpassing £1.5 trillion for the first time. Britain’s economic recovery remains fragile, with flat growth in the third quarter of 2024 and a 0.1 per cent GDP contraction in October, edging the country closer to recession.

The Resolution Foundation’s findings also show that higher earners are set for a £356 per-person hit next year, equivalent to a 0.6 per cent reduction in living standards. The wealthiest tenth of households will bear the brunt of Ms Reeves’s record £40bn tax rise, while those on lower to middle incomes stand to see a small gain, largely because of expanded public services and increased minimum wages.

Although Labour’s plan aims to address chronically underfunded public services, the tax raid is predicted to depress private sector pay, particularly after employer National Insurance contributions rose from 13.8 per cent to 15 per cent. Private sector employers now bear this burden, whereas the public sector is exempt.

Mr Brewer noted: “People may not feel better off in purely financial terms, but the Government hopes they will if public services become less dysfunctional.”

Experts warn that a subdued economic outlook, alongside mounting public pay demands, could lead to yet another round of tax measures. Carl Emmerson of the Institute for Fiscal Studies (IFS) pointed out that with slim headroom for growth, the Government may have to abandon or revise its fiscal targets.

Despite these uncertainties, a Treasury spokesman insisted the Government has “wiped the slate clean” and must now focus on delivering “our Plan for Change”, which hinges on attracting investment and boosting productivity. In the meantime, the growing pay chasm between public and private employees — set against a backdrop of simmering union tensions — underscores the challenges facing Britain’s economy under Labour’s stewardship.

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Pay gulf widens between public and private sectors under Starmer

British employees are pushing back against calls to work more frequently in the office, amid complaints of insufficient desks and facilities.

A fifth of workers surveyed by Remit Consulting cited a shortage of workspace as one of their top three reasons for staying away. Researchers say this highlights how some firms cut back too far on office space after the pandemic ushered in a wave of home working.

Several major companies have pared back their real estate footprints to reduce overheads, with insurers such as Aviva and banking giant HSBC among the most high-profile. HSBC, for instance, will soon vacate its Canary Wharf tower for a smaller building near St Paul’s Cathedral.

Elijah Lewis, of Remit Consulting, said the findings “clearly merit further investigation”, adding: “If this trend continues, it could suggest that the shift towards prioritising meeting and breakout areas at the expense of individual desks may have been taken too far.” He noted the survey began probing sentiment around desk shortages only in November, following feedback from property managers that it was quickly becoming a pressing issue.

It is a challenge that has also beset major firms in the United States. Retail and technology giant Amazon, for example, was forced to postpone office returns for thousands of employees after realising there would not be enough physical space for them to work on-site five days a week.

For British workers, however, the number one reason for avoiding the office remains the hassle and cost of commuting. Noise and distraction levels in an office environment were also cited as key deterrents.

Despite such concerns, Britain’s office occupancy rates reached their highest monthly average in November since well before the pandemic. Attendance topped 35 per cent for the first time since Remit’s survey began in May 2021, reflecting the gradual relaxation of lockdown rules.

“Increased publicity around mandates for returning to the office may have contributed to the sustained rise in attendance, suggesting that employees are adapting to in-person collaboration,” said Lorna Landells of Remit. “This reduction in resistance to full-time office mandates could signal a shift in workforce sentiment, potentially easing the implementation of stricter attendance policies for some organisations.”

Remit’s research indicates that businesses placing a strong emphasis on meeting, collaboration and networking opportunities are likelier to draw staff back more consistently. The study also suggests fewer workers than before now say they would quit if told to return full-time, a likely reflection of greater acceptance that the flexible working era still includes a significant in-office component — and that job-hunting in the current climate can be more challenging.

Meanwhile, the survey revealed that the volume of external visitors to office buildings has risen in recent months, pointing to greater numbers of face-to-face meetings with clients, customers and partners. Many employees admitted that their decision to come into the office depends on who else will be present on any given day. In some cases, even a free lunch can serve as an incentive.

“Offices increasingly need a purpose,” Ms Landells explained. “They are evolving into hubs for collaboration, networking and client engagement, rather than just rows of desks for routine tasks that can just as easily be done at home.”

Even though office occupancy has climbed, it is still nowhere near pre-2020 levels. Before Covid, offices were generally considered ‘full’ at around 60–80 per cent, accounting for annual leave, external meetings and sick days.

No surveyed worker gave their office space top marks, suggesting there is still much room for improvement. Many employers are now reviewing whether the cost savings of smaller offices justify the challenges of trying to accommodate staff who, after years of hybrid working, still need enough desk space to feel both welcome and productive on-site.

A recent report by Centre for Cities also showed that London workers are coming back more slowly than those in Paris and New York. Where British businesses have introduced back-to-office mandates, the most common requirement is around three days per week, lagging behind Sydney at four and behind other global hubs like Singapore, New York, Toronto and Paris.

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Desk shortage holds back the ‘return to office’ push

Repeated increases in stamp duty have taken a heavy toll on high-end London property sales, with transactions in Britain’s two most expensive boroughs falling by 42 per cent over the past decade.

According to new analysis by Savills, deals in Kensington and Chelsea and Westminster have slumped from 10,665 in 2013–14 to around 6,200 in 2023–24.

The figures also provide a warning sign for Rachel Reeves as punitive stamp duty rates risk reducing overall tax receipts. Savills data suggests that the average effective stamp duty rate in these prime boroughs has almost doubled over the past ten years, from 5.4 per cent in 2013–14 to 10.1 per cent in 2023–24.

It is a stark illustration of the so-called Laffer curve in action. Conceived by the American economist Arthur Laffer, this curve suggests that, while higher tax rates can increase revenues initially, beyond a certain threshold receipts start to drop as taxpayers alter their behaviour or exit the market. Lucian Cook, the Savills director behind the analysis, said: “They can only push things so far without having a detrimental impact on tax revenues.”

George Osborne, then Chancellor, set the trend in 2014 by raising rates on higher-priced homes. Subsequent surcharges for second homes (introduced in 2016) and for foreign buyers (added in 2021) compounded the impact on prime central London. These measures have resulted in a staggering stamp duty bill. A UK resident purchasing a £10m main home in 2023–24 would face charges of around £1.1m in duty, rising to £1.8m for an overseas buyer picking up a second home.

Yet these figures do not even reflect Ms Reeves’s more recent Budget announcement to add another two percentage points to the additional homes surcharge. Estate agents warn this will further erode the appeal of London’s most exclusive neighbourhoods to big-ticket buyers.

In 2010–11, transactions in Kensington and Chelsea and Westminster accounted for 9.5 per cent of all London sales. By 2023–24, that proportion had dropped to 5.9 per cent, highlighting the scale of the decline. Despite this, sales in these two boroughs alone still generated £1.2bn in stamp duty receipts in 2023–24, amounting to nearly a tenth of the £14.8bn total collected across England and Northern Ireland.

High rates of stamp duty, coupled with Ms Reeves’s plans to abolish the favourable non-dom tax regime from April 2025, mean prices in prime central London (PCL) are expected to fall next year, according to Savills. Lucian Cook forecasts a 4 per cent drop in PCL property values.

Even so, this market remains markedly more expensive than the rest of the capital. The average property price in Kensington and Chelsea in October 2024 stood at £1.1m — nearly double London’s average of £590,000. Sales at the very top end commonly exceed £10m, attracting equally eye-watering stamp duty bills.

The Treasury has become heavily dependent on the top tier of the housing market for stamp duty revenues, and experts warn that prolonged suppression of transactions could ultimately undermine this income stream. Mr Cook said: “They need to be quite careful about that, given the extent to which their tax take has become very, very dependent on the health of the very top end of the market.”

As Britain’s high-end buyers weigh up tax bills that can stretch into seven figures, there are questions over whether stamp duty policy is nearing its revenue-breaking point. With prime London housing transactions continuing to shrink, policymakers may find that the Laffer curve’s cautionary tale on the dangers of overtaxation is starting to ring true in the capital’s swankiest postcodes.

Read more:
Stamp Duty hikes trigger 42 per cent slump in prime London property deals

In a world that is becoming progressively digitalised, it is important to have a clear understanding on how industries can work collaboratively with the likes of AI to ensure they are not left behind.

Gaining this understanding early will help avoid scaremongering and allow businesses to use the development of technology in their favour as opposed to it being a threat.

Although I appreciate digitalisation is inevitable, I have learnt it is a fine line between using technology to enhance roles and allowing it to destroy important human needs. I have previously discussed my uptake of a ‘dumbphone’, after gaining awareness on how the reliance of digitalisation can be blinding of many crucial elements such as empathy and acknowledgement, only to be replaced with the urge to compare and brag. Now I have boundaries in place for where and when I allow life to be digitalised, I have a clearer understanding of how it is appropriate to use technology in the industry and when it can even be harmful.

AI can be used productively in mentoring, aiding humans to make the process more efficient. It is incredibly effective at sorting through vast amounts of information at an incomprehensible rate, which can be useful for matching appropriate mentoring partners, distinguishing those with similar interests and compatible ways of working. Additionally, AI can be used to construct tailored learning paths, based on a range of inputs, it can decipher the appropriate steps, learning styles and relevant resources for each mentee. This can be a useful guide that a human mentor can adjust accordingly and help apply, but shouldn’t be relied upon.

Although AI is a helpful tool, that provides many positives when integrated correctly, it is important to be aware of its limits and not use it as a shortcut over human-to-human mentoring. AI can only produce an output using pre-existing information. Unlike the human mind, it is unable to form new answers for problems that require unique information. The answers AI currently produce must already exist, which restricts the how tailored the answers provided can be. Whilst many circumstances faced in mentoring aren’t likely to be a singular experience, AI doesn’t consider how individual thoughts and feelings have implications on appropriate methods for different individuals, massively reducing the effect of what mentoring can offer.

Humans aren’t just necessary for implementing the learning path but also for their continued support and monitoring. Having a human mentor overseeing the process ensures for through observation. Whilst AI can only use information provided to generate feedback, humans can read between the lines and interpret results through other senses such as one’s mannerisms and overall demeaner.

The traits that are associated with human interaction remain indispensable to the role of mentoring as their value cannot be replicated with AI. Empathy and other elements of emotional intelligence are a large component of effective mentoring. The relationship that is built between mentor and mentee is of infinite value, establishing the foundation for how successful mentoring can be. A level of mutual respect and trust is necessary, along with mentors often acting as a sort of role model for what the mentee can aspire to be. It isn’t possible to form this bond with a ‘fake’ being – and if it is, it isn’t healthy.

In conclusion AI is to be used for assistance, enhancing the mentoring experience, not as a replacement for human interaction and the traits that are associated with such. AI is solely logical whereas human scenarios often require a combination of logic and empathy.

It is important to acknowledge, that the development of technology is unknown, and it can only be assumed. It is likely that one day the capabilities of AI will imitate human traits much more convincingly. However, the bonds required between mentor and mentee for successful mentorship can only be achieved sufficiently with human-to-human mentoring rather than human to machine.

Read more:
Why AI will never replace the human traits that make for effective mentoring

A survey by one of the UK’s top holiday providers has found that senior executives choose Austria ski holidays above destinations in other alpine nations, not only for corporate meetings and incentive travel but also for their own family ski trips.

Here’s how the Austrian Alps beat France to become your boss’ winter sports vacation go-to.

For many in the boardroom, the authenticity of Austria’s old mountain towns is a key draw. Unlike France’s purpose-built resorts that can sometimes lack character, Austrian villages luxuriate in their centuries-old architecture, charming cobbled streets, and a distinctly traditional atmosphere. It’s not just visual appeal either: the iconic Swiss-style ‘chocolate box’ scenery is on full display, but at better value than its Swiss counterpart, thanks to Austria’s friendlier euro-based price tags compared to the sometimes lofty Swiss franc.

Senior executives often seek comfort and exclusivity, but without the conspicuous opulence associated with more contemporary or ‘bling’ ski resorts. Austria delivers, with five-star hotels like the Schosshotel in stealth-wealth Ischgl, where guests enjoy fine dining, spa treatments and ski in/ski out access among skiers more likely to be clad in Arc’teryx than Gucci. For an authentic catered chalet ski holiday, the European royals’ favourite villages of Lech and Zurs shine with their high-end properties, discreet consierge service and prime position in the spectacular Arlberg domain.

The incredibly family friendly Austria ski holidays is writ large in resort favourites like Zell am See and Kaprun with their gentle nursery slopes, 12 ski schools and teen-favourite snow parks. Often voted ‘Austria’s most family-friendly ski resort,’ Serrfaus-Fiss-Ladis is a gem slowly being discovered by British visitors, who love it and return annually for its dedicated childrens’ snow area, adventure zones and interactive ski trails.

Snow reliability is another factor behind the surge in popularity. Austria has the largest selection of glacier ski areas in the Alps ensuring that, even when lower slopes are getting warm enough for thoughts to turn to more creative ski holiday destinations, skiers can count on snow-sure pistes for everything from high-stakes networking on the slopes to adrenaline-fuelled family days.

Family favourite Obergurgl and Hochgurgl, dubbed the ‘Diamond of the Alps’ even guarantees snow from November to May with wide uncrowded pistes perfect for flattering the executive’s carving ability and cruising together with the spouse and children.

Yet it’s the après ski that truly sets Austria apart. From legendary venues like the Mooserwirt in St Anton to lively beer halls in Kitzbühel, the Austrians have made conviviality a national pastime.

For fine dining, the sophisticated Hendl Fischerei in Saalbach-Hinterglemm is on a par with Ischgl’s Michelin-starred Stüva and the resort’s famous mountain-top concerts (Ellie Goulding opened the season this winter) are good enough for the most discerning teenager or client entertainment.

Business leaders also appreciate that Austria’s major ski regions are remarkably accessible, especially when juggling tight schedules. Flights from London City Airport into Innsbruck or Salzburg place visiting groups directly at the heart of the Alps, slashing travel time and minimising days out of the office.

Some of the country’s best-known resorts including Kitzbühel, Mayrhofen, Saalbach, and Zell am See, can be reached in under an hour by car from the nearest airport, turning what could be a lengthy transfer into a convenient hop from plane to piste.

The bottom line for corporate travellers is clear – Austria offers the best blend of character, cost-effectiveness, snow reliability and efficient travel connections – making it the new frontrunner for board-level retreats, conferences, and family ski holidays alike.

Read more:
Why Austria ski holidays have become the top choice among business leaders

A startup that is beginning to make its presence known to their market knows that branding is what makes them who they are.

The important thing to remember is that leaving a lasting impression will bring in repeat customers (and new ones based on positive reviews, word of mouth, and other approaches). This guide will discuss the four ways startups can use merchandise to help make their branding presence known.

A brand is a name or identity to a startup that will certainly stay in the mind of their customers. Whenever they think of their name, they might come up with something descriptive about your brand. Let’s go over the following list down below.

1.   Create Custom Apparel for Visibility

If there is one thing that will get the visibility your brand needs, custom apparel just might be what you’re looking for. Printful and other platforms can go above and beyond to create apparel such as custom hats, t-shirts, hoodies, and others with your brand’s name and logo. Whatever people wear with your branding, they are mobile advertisements and also brand ambassadors – representing a brand that they know, like, and trust so much.

You’d be wise to consider custom apparel for generating brand awareness, especially if you are dealing with a budget to start. Invest in the best apparel options, have it custom made, and you’ll be good to go.

2.   Offer Your Merchandise as Freebies or As A Giveaway

People love free things. They would feel stupid for turning it down, even if it’s something they’d desire. However, offering free merchandise as an outright freebie or through an online giveaway can be the perfect way to leverage your startup’s brand. That way, it will give people who follow you the opportunity to try out what you sell without any kind of upfront costs. Some merchandise can be given away to test the likeability and perceived value of the product (along with other KPIs you can measure for product success).

If the merchandise is clothing, make sure it can be used as a way to leverage your brand and its visibility (see the previous step above). Nevertheless, more people may follow you for freebies and giveaways – which is great for you whenever you want to grow your following starting out.

3.   Sell Your Branded Products

Obviously, selling your branded products will be the perfect income opportunity. This includes selling custom-made items for the purpose of raising money to reinvest in your startup. It’s kind of like crowdfunding so to speak. It’ll be an excellent approach for those who are operating a startup in a niche market of their choice.

Niche markets have their own set of target audiences that have the potential to become your rabid fanatical paying customers. Treat them right all the time and they will stick with you for the long-term. Plus, their on-going support means more money that your startup will need for reinvesting, paying employees, and so much more.

4.   Gifting Merchandise To Employees

If you have employees, chances are they could become your best brand advocates. With that in mind, you’ll want to give them merchandise as a gift. This way, they can wear it and display their allegiance to your startup brand. Plus, they know more about your startup than anyone who may not have heard about it.

Employees getting merchandise with your brand name can be a gift that keeps on giving for you and your employees. The question is: what will you be giving them? That’s up to you but make sure it’s something that can be put to good use on a regular basis and is of excellent quality.

Final Thoughts

These four ways to leverage merchandise for branding purposes will be important. If you are a startup that is starting out with little funding, some of these tips will be a great way to help get the additional funding you need. Especially if you are looking to sell the merchandise to get the word out – be it pre-launch or after the launch has passed. The best way to leverage your startup can be mostly through merchandise that is wearable – allowing those who sport your branded clothing to be the brand advocates and ambassadors that draw in your ideal customers.

Read more:
4 Ways Startups Can Leverage Merchandise For Branding

As companies strive to build secure businesses, they end up spending a significant portion of their workweek on security-related tasks, such as scan reviews, secrets detection and context-switching between multiple tools.

Moreover, sorting through false positives or duplicate vulnerabilities consumes an inordinate amount of an organization’s time, reducing the effectiveness of their cybersecurity solutions.

AI-powered automation and autonomous endpoint management work as a catalyst in bringing effectiveness and transforming your IT management. This blog discusses the various cybersecurity threats and vulnerabilities and ways to defend against them. Keep reading to learn how to enhance your company’s own security posture.

The Ultimate Guide to Cybersecurity Threats & Defenses

Phishing Attacks: The Human Element at Risk

Attackers obtain sensitive information such as usernames or passwords by disguising themselves as trustworthy entities in an electronic communication to a fake email or website that mimics a reputable organization. It is usually associated with email fraud and has emerged as one of the most prominent cyberattacks today.

Why It’s a Major Threat:

According to the report1, the most widespread type of phishing scam in 2023 was bulk phishing, which affected around 86% of companies worldwide. In the first quarter alone of 2024, there were nearly one million unique phishing sites worldwide. Phishing attacks exploit human error to gain a foothold in corporate or governmental networks as part of a larger attack, such as an advanced persistent threat (APT) event. They bypass security perimeters, distribute malware inside a closed environment, or gain privileged access to secured data.

How to Defend Against It:

Preventing phishing scams primarily involves awareness. Proper employee training must be done to recognize phishing attempts. Businesses should also implement multi-factor authentication (MFA) to reduce risk. AI-based threat detection enterprise security solutions also implement spam filters to detect phishing emails. It verifies a site’s security before entering personal information to identify and block malicious emails.

Ransomware: The Growing Extortion Threat

A malicious software attack, commonly termed ransomware, threatens to access an organization’s data or perpetually blocks access to it unless a ransom is paid. It effectively locks users out of their systems, potentially crippling the entire network until the ransom is paid. Businesses pay ransom demands to gain access to their systems, spending much time and effort dealing with the aftermath.

Why It’s a Major Threat:

2023 marked the year with the highest volume of posts on shaming sites, where approximately 30% of posts were on newly identified DLS associated with various ransomware families, including ROYALLOCKER.BLACKSUIT, RHYSIDA, and REDBIKE. The threat actor searched internal resources, such as SharePoint drives, documentation, and emails, for specific information that could support their operations.

How to Defend Against It:

Maintaining regular and separate backups of your essential files helps you defend businesses against it. Businesses should also avoid clicking on suspicious links and keep all their software and systems up-to-date. An enterprise security solution that ensures continuous compliance enforcement will also help your organization remain secure and compliant.

Insider Threats: The Risk from Within and Data Breaches

A security risk originating from within the targeted organization, such as your employee or business associate, makes enterprise security important as they gain access to sensitive information or privileged accounts within the organization’s network and aim to misuse this access.

Why It’s a Major Threat:

Insider threats cause significant financial, reputational and operational damage as they already have legitimate access to an organization’s critical systems and data, making it harder to detect their harmful actions. Common misuses include abnormal data access, privilege escalation, unusual network traffic, employee behavior changes and unauthorized system modifications.

How to Defend Against It:

Implement least access privileges, limiting user and application access to the minimum resources and permissions needed to perform their tasks. Use real-time application security tools to monitor for potential threats. Multiple scans can be reviewed in centralized dashboards for illegal access, and security tasks can be easily shared between various team members, bringing greater efficiency. Secure enterprise also correlates results from various tools for more efficient triage and remediation.

Distributed Denial-of-Service (DDoS) Attacks: Overwhelming Your Network Security Infrastructure

An attempt to disrupt a server, service, or entire network by overwhelming it with internet traffic, rendering the system/ network inaccessible to legitimate users, resulting in the denial of service from an organization. These attackers usually flood the system with requests or exploit vulnerabilities.

Why It’s a Major Threat:

Attackers can infiltrate a database and access sensitive information affecting business finance or reputation. They are often carried out using a botnet, a network of internet-connected devices that can also distract cybersecurity operations while other criminal activity is underway. These attacks are much more brutal to prevent or mitigate as they originate from different sources; however, you can take measures to minimize them.

How to Defend Against It:

To protect against DDoS assaults, organizations could adopt cloud-based content delivery networks (CDNs) and implement network security rules. A cybersecurity solution platform that automates the detection, administration, and real-time remediation of all endpoints on-premises, virtual or cloud will be helpful.

Advanced Persistent Threats: Long-Term Attacks

APT is a type of long-term cyberattack when a hacker enters a corporate network, creating an illegal, persistent presence to steal extremely sensitive data. It differs from traditional cyberattacks in several ways, such as complexity, persistence, targets, etc. For example, Operation Aurora, an APT attack in 2009, targeted Google, Adobe, Intel and other companies to steal intellectual property and gain insight into their operations.

Why It’s a Major Threat:

Executing an APT assault requires more resources than a standard web application attack, as perpetrators are usually teams of experienced cybercriminals with substantial financial backing. They’re not hit-and-run attacks, but once a network is infiltrated, the perpetrator remains to attain as much information as possible.

How to Defend Against It:

Proper APT detection and protection require a multifaceted approach from network administrators.  Businesses must leverage unparalleled coverage, operational efficiency, and effective risk mitigation to safeguard their assets from pressing vulnerabilities. Application and domain whitelisting, traffic monitoring, and access control measures should be implemented. The AI cybersecurity platform automating discovery, management, and real-time remediation of all endpoints will be great.

Conclusion

Businesses face all kinds of cybersecurity threats. However, there are ways to mitigate every threat. Organizations can protect computer systems, networks, and data using a holistic cybersecurity solutions platform that protects devices, networks and digital assets from cyberattacks. It works as a single platform solution that provides a wide array of testing tools under a single umbrella, leaving room for no vulnerabilities. Additionally, when integrated with AI, it reduces the number of false positives in scan results, widens scan coverage, and assists with tool remediation. Doing so will provide centralized access to valuable, granular, real-time information about traffic on the edge of your corporate network perimeter and protect your business data and systems from malicious attacks and theft.

Read more:
The Top 5 Cybersecurity Threats and How to Defend Against Them

Term insurance offers valuable peace of mind by ensuring your loved ones are financially protected in case of your absence.

However, for high-risk individuals with pre-existing health conditions or risky lifestyles like smoking, getting coverage may seem challenging. Nevertheless, several term plans cater specifically to higher-risk applicants. The section below will discuss the best-term life insurance plans for high-risk individuals.

Which Term Insurance Plans Are Best for High-Risk Profiles?

Term life insurance offers life coverage for a set duration or ‘term.’ It pays out the sum assured to your beneficiaries if you pass away during the term. They provide high coverage on a limited budget, making them ideal for securing families.

While there may be higher premiums for high-risk profiles, various term plans are available for almost everyone, regardless of health or lifestyle. Here are some of the best term insurance options for higher-risk individuals requiring coverage:

Impaired Risk Plans, also referred to as substandard risk policies, are available from many leading insurers for individuals with riskier health profiles, including obesity, cardiac issues, hypertension, etc. These plans carry a significantly higher premium compared to a standard term policy. Most insurers in India generally offer coverage until 70 to 75 for individuals with impaired risk profiles.
Most insurers offer standard term plans to smokers at a smoker’s rate, which is typically higher than the non-smoker’s rate. The premiums charged for smokers are usually about 1.5 times more than for non-smokers, considering the increased mortality risk due to smoking.

3 Key Reasons Why High-Risk Individuals Need Term Insurance

High-risk individuals, such as those with pre-existing health conditions, high-risk occupations, or unhealthy lifestyle choices, need term insurance for various reasons:

Financial Protection for Loved Ones: High-risk individuals are more likely to face health complications or untimely death, making life insurance even more essential. The insurance payout can help maintain your loved one’s current lifestyle and financial stability in your absence.
Loan Protection: Term insurance serves as a safety measure if you have any pending loans, such as a home or personal loan. The insurance payout can help pay off the loan amount in the event of your untimely death.
Peace of Mind for Family & Dependents: Term insurance gives you a sense of security, knowing that your loved ones will be financially secure regardless of what happens.

Steps to Secure Term Insurance Coverage

Follow these basic steps to ensure that you pick the right coverage:

Determine Coverage Amount: Calculate the total amount your family may need, including kids’ education, living expenses, outstanding loans, etc., in your absence.
Submit Application: Fill out details about your current medical condition, family history, and lifestyle habits (like smoking). Insurers may request medical test reports.
Underwriting Decision: The insurer will evaluate your eligibility and decide whether to accept, exclude, or charge higher premiums to cover the risk.
Issue Policy: Receive term policy document stating premiums payable, sum assured, claim process, exclusions, etc.
Make Regular Premium Payments: Pay premiums regularly throughout the policy term to continue coverage.

3 Tips for Choosing the Right Term Plan

When purchasing a specific term plan, keep the following in mind:

Analyse Claim Settlement Ratio: Check the insurer’s claim ratio, which indicates their reputation for promptly settling high-risk claims.
Review Exclusions: Carefully read what medical conditions or risk profiles are excluded to avoid rejection later.
Add Optional Covers: Attach riders providing extra coverage for accidental or critical illness-related costs.

Conclusion

Term insurance remains vital for financially protecting dependent families, especially high-risk individuals. Several plans now cater primarily to applicants with health issues or risky lifestyles. Checking claims settlement ratios and premium costs is key to finding the best term insurance despite being high-risk. Even with pre-existing conditions, planning early ensures your loved ones remain financially secure during difficult times.

Read more:
Best Term Insurance Plans for Individuals with High-Risk

Today, most business decisions are backed up by smart data, and recruiting is no exception. Human talent could well be one of the most valuable company assets, but finding the best-suited candidates and successfully integrating them into existing teams can be challenging.

Fortunately, technology comes to the rescue; the evolution of recruiting software allows recruiters to streamline most routine processes and ensure every decision is backed up by hard data.

Read more:
Smart Hiring Choices: From Data to Decisions

Originally from Latvia, Gatis Eglitis is a highly reputable and internationally recognized professional with more than 20 years of experience in the financial services and fintech industry, managing investment projects and complex IT solutions, specializing in financial services, algorithmic trading and data science.

Holding a Bachelor of Science degree in International Economic Relations, a Master of Science (MSc) degree in Finance from the University of Latvia, and a second MSc in Finance and Strategic Management from Copenhagen Business School Gatis Eglitis is higher accomplished.

Over the course of his professional career, Gatis has founded many successful financial companies, including some operating under the EXANTE brand.

EXANTE is a global brand of wealthtech companies, with a team of over 700 staff located globally, working under licensed entities in Malta, Cyprus, the United Kingdom and Hong Kong.

Year after year, the EXANTE platform continues to receive numerous accolades and awards, including a High Commendation as “Product or Service of the Year” by FT Adviser in 2024, Finance Magnates’ “Best Multi-Asset Trading Platform” in 2023, and the International Investor Award for “Most Innovative Multi-Asset Trading Platform” in 2024.

The companies operating under the EXANTE trademark service both retail and professional clients, and provide trading access to more than 1,000,000 instruments – stocks, ETFs, bonds, futures, currencies, and options – on more than 50 global exchanges.

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Gatis Eglitis and EXANTE: Pioneering Global Innovation in Finance and Fintech