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ej-sblog · 2 years

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Life Insurance For Children: Pros & Cons

The COVID-19 pandemic has been a wake-up call for many about the need for life insurance. It’s been one of the top topics of discussion at dinner tables, according to a recent survey by Life Happens, an industry-funded non-profit that provides information about insurance. And one-quarter of those surveyed said they bought life insurance because of the coronavirus.

Life insurance can provide a safety net for loved ones who depend on you financially. But Life Happens CEO and President Faisa Stafford says she was prompted by the pandemic to buy life insurance policies for her two teen daughters. Of course, her daughters are the ones who depend on Stafford for support now. So why would they need insurance policies?

Stafford says she wanted to protect her daughters’ insurability, which is one of the primary reasons parents buy life insurance policies for their children.

“When I started hearing of COVID-19’s possible long-term effects and the risks to all age groups, I quickly hopped on the phone with my financial professional to ask about getting my two teens insured with whole life insurance policies that would protect their future insurability,” she says. “I didn’t want them worrying about not being insurable because of some potential health issues they may develop later in life.”

There can be other reasons, too, for insuring children. However, it certainly doesn’t make sense for all families to spend money on this sort of coverage. Before you decide whether it’s right for your family, here’s what to know about the pros and cons of life insurance for kids.

What Is Life Insurance for a Child?

Like a life insurance policy for an adult, a life insurance policy for a child is a contract with an insurance company. Premiums are paid (typically monthly or annually) in return for the promise that the insurance company will pay a death benefit if the child dies.

With an insurance policy for an adult, the policyholder typically is the insured person — the one who is covered by the policy. With a policy for a child, the child is insured, but a parent, grandparent or legal guardian is the policyholder. The policyholder also can be the beneficiary who receives a payout if the insured child dies.

Life insurance policies for children typically are whole life insurance policies, which means they will provide lifelong coverage as long as premiums are paid. Premiums tend to be guaranteed, so they won’t increase over time. Plus, a portion of the premium goes toward building cash value, which can be accessed while the child is alive for any reason.

You can’t buy a term insurance life policy for a child, which would provide coverage only for a certain number of years. However, if you buy a term life insurance policy for yourself, you might be able to add a rider to cover all of your children until they reach a certain age, at which time the coverage likely can be converted to permanent policies for them at an additional cost.

What to Know About Buying Life Insurance on Children

Buying life insurance for a child is relatively quick and easy — especially when compared with buying a policy for an adult. You’ll have to fill out an application, but your child won’t have to go through a life insurance medical exam, which insurers often require for adults.

“The process was simpler and quicker than installing the latest meme for my Zoom background,” Stafford says. “I filled out and signed one electronic form and simply waited while my teens’ underwriting was all done online.”

Typically, you can buy life insurance for a child who is age 17 or younger. However, the cap can be lower. For example, the age limit is 14 for the Gerber Life Grow-Up Plan. The coverage, though, remains intact throughout the child’s life, as long as the premiums are paid.

As the owner of the child’s policy, you can transfer it to your child at any point, says Henry Hoang, founder of Bright Wealth Advisors and Bright Life Insurance in California. It’s common for parents to transfer policies to their kids once they’re adults and let them take over premium payments. In fact, with Gerber Life policies, the child becomes the owner at age 21.

The Cost of Insuring a Child

The younger your child is when you buy a policy, the cheaper it will be, Hoang says. With a whole life policy, the low rate you lock in at the time of purchase will be guaranteed for the life of the policy.

The amount you pay also will be affected by the amount of coverage you buy. And it could be affected by the type of payment schedule you choose. For example, you may have the option to purchase a policy that is payable through the child’s age of 65 or 100, Hoang says. The further you stretch out the payment schedule, the lower the premium will be.

On the other hand, the insurer might offer the option to pay off a policy within a certain number of years rather than throughout the life of the child. For example, American Family Insurance has 10-year and 20-year payment options for its children’s whole life insurance policy. The shorter the payment period, the higher the premium will be, but it’s an option worth considering if you want to turn over a policy that’s already paid off to your child.

Be aware, though, that you shouldn’t buy a policy based on the premium alone, Hoang says. You’ll want to look at internal fees and a policy illustration that shows how much the cash value of the policy will grow over time based on a guaranteed rate of return.

The cheapest policy might not be the best approach. Hoang says you need to ask: “Is it going to give you more value down the road?” The policy’s performance will determine whether the premium for the policy is worth it.

Pros of Buying Life Insurance for a Child

It guarantees insurability. The biggest selling point of a life insurance policy for a child is that you’re guaranteeing that your child will have coverage even if he or she develops a health condition later in life. Plus, insurers often offer riders (at an additional cost) that will allow you or your child to purchase more coverage in the future without having to go through a medical exam or proving insurability, Hoang says.

By buying life insurance for a child, you’re not just locking in insurability if your child has a change in health. You’re also ensuring that your child will have coverage if he or she takes up a dangerous hobby, says Steve Meldrum, an insurance specialist with Swell Private Wealth. For example, Meldrum has a 23-year-old client who has had trouble getting life insurance because he is a scuba diver — a hobby that insurers consider a risk to insure.

It allows you to lock in a low rate. You’ll never get a lower rate on life insurance than when a child is a newborn. Rates will increase with each year of life. Of course, you or your child will be paying premiums over a longer period of time. But the amount paid over time still can be lower because of the super low rates for a child. Using the rate example provided by Hoang, the $44.46 monthly premium for $100,000 of coverage at age 0 will add up to $20,000 less over 65 years than the $126.76 monthly premium for a 30-year-old paid over 35 years.

It provides funds for funeral expenses. The chances of a child dying are low, so funeral costs are not a good reason to buy life insurance on a child. But if that happens, a life insurance policy will provide funds to help cover the cost of final expenses. It also could allow the family to afford to take time off from work to mourn the loss of a child.

If you’re primarily interested in life insurance for a child to cover funeral costs, you likely can add a rider to your own life insurance policy to cover your child for less than what you’d pay for a whole life insurance policy on the child.

It has cash value. A portion of the premiums paid for a whole life insurance policy go toward building cash value. When you buy a policy for a child, a bigger portion of the premium will go toward the cash value because the cost of insurance is low, and there’s more time for the cash value to build.

“There’s some value in that extra time you get to accumulate cash,” Hoang says. And the cash value can be accessed for any reason. But note that withdrawing cash from the policy could trigger a tax bill and will reduce the death benefit.

Cons of Buying Life Insurance for a Child

It offers a low rate of return. Although whole life insurance policies build cash value, they do so at a low rate of return. So life insurance for a child shouldn’t be a substitute for a 529 college savings plan, Hoang says.

If you buy a policy for a newborn, it usually takes 15 years before the cash value equals the premiums paid — to break even, that is. However, if you were to invest in a 529 college savings plan and earn a 7% return (the average stock market return), the amount you invested would double in 10 years, Hoang says. You can expect to see much higher returns by investing in a 529 plan than with a life insurance policy.

It’s a long-term commitment. When you buy a whole life insurance policy, you should expect to be paying premiums for decades. “If cash flow becomes tight, it’s not going to be worthwhile if you have to cancel,” Hoang says.

You might be able to use the cash value to cover premium payments for a while if the policy has built up enough cash value. But then there will be less cash value for your child if he or she needs it later in life.

Coverage limits tend to be low. Several insurers limit the coverage amount for children’s life insurance policies to $50,000 or $75,000. That won’t be enough coverage once your child is an adult and has a family to support. They’ll likely need to buy life insurance as an adult to have sufficient coverage.

It’s a financial trade-off. When you buy life insurance on a child, you’re giving up money that could be used on other things to support the well-being of your child, Meldrum says. Because it is unlikely that your child will die at a young age, your money might be better spent elsewhere.

When Life Insurance for Kids Does — And Doesn’t — Make Sense

Before buying life insurance for a child, make sure you have enough coverage for yourself. Protecting the financial well-being of loved ones takes priority. In fact, insurers usually require that parents have their own life insurance policies with at least as much coverage as they want to buy for a child as a prerequisite for insuring a child, Hoang says.

You also should make sure you’ve tackled other financial priorities before buying life insurance for a child. Building an emergency fund, saving for retirement and paying off high-interest debt should take precedence.

“Take care of yourself before you take care of your kids,” Meldrum says. Then, if you have room in your budget, you can consider life insurance for your kids.

Although life insurance for a child doesn’t always make sense, it can be a good solution for some families, Meldrum says. For example, high-income parents might find the ability to transfer wealth to their children through a life insurance policy appealing. Or they might like the tax-advantaged growth on the cash value portion of the policy.

Also, if your family has a history of genetic medical conditions such as diabetes, it might make sense to insure your child, Meldrum says. Then you won’t have to worry about whether your child will be denied coverage later in life if he or she develops a medical condition.

Working with a financial planner can help you decide whether life insurance for your kids is a good fit for your family and your overall financial situation. Also consider working with an independent insurance broker who works with several insurance companies and can help you find the best policy at the best rate.

CREDITS: Cameron Huddleston & Amy Danise

DATE: July 10, 2022

SOURCE: https://www.forbes.com/advisor/life-insurance/life-insurance-for-children/

#AreteAutomation #LifeHealthAdvisors #LifeInsurance #LifeInsurancePolicy #FinancialAdvisors #Knowledge #BestForHealth #HealthIsWealth #Life

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mayflorsblog · 2 years

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5 Life Insurance Questions You Should Ask

If you're in the market for life insurance, you might have been tempted by those ads claiming, "For just a few dollars a day, you can protect your family with $1 million in life insurance!" It sounds like a great deal, doesn't it? These ads typically refer to term life insurance. As its name implies, term life insurance provides protection for a limited amount of time or term, such as 10, 20, or 30 years.

The concept is fairly simple: If you die while your policy is active, your family will receive a death benefit. But the many types of term insurance and options can be confusing. Is term life insurance likely to pay off for you? Start by asking yourself the following five questions.

KEY TAKEAWAYS Nobody really wants to talk about life insurance; it sounds expensive and brings to mind our own mortality. Nevertheless, having the proper life insurance in place can bring peace of mind, knowing that your loved ones and beneficiaries will be taken care of financially when you die. Depending on your lifestyle, family structure, and financial position, different types of life insurance coverages exist that can be customized to meet your particular needs.

Why Do I Want Life Insurance? Before you buy any kind of life insurance, think about why you're buying it. Are you protecting your family in case of early death? Have you taken on additional debt that requires you to provide coverage? Are you looking to leave an inheritance or a gift to a charity?

If you want insurance to potentially cover financial obligations you'll have for a very long time—possibly for the rest of your life—you may want to consider permanent life insurance. If you're in a cash crunch and have immediate obligations to your family, business partners or lenders, term insurance can provide you with a short-term solution.

What Type of Coverage Is Available? Most people will have access to at least one of the two types of term insurance policies: group or individual.1

Group Life Insurance Most companies offer their employees some form of term life insurance as an employee benefit. This is called group term insurance because you're getting protection as part of a larger group. Usually, it's deducted right from your paycheck, and the only requirement for coverage is to complete a brief questionnaire with details of your health history. Here are some of the advantages of group term insurance:

It's convenient. You can usually sign up for a policy when you take a new job and enroll in your company's benefits program. You may also have an opportunity to sign up during the annual enrollment period at your company when you can sign up for other benefits, such as medical or dental insurance or an employer-sponsored retirement plan. No medical exam required. Most group plans don't require a physical exam. A statement of good health, along with a medical history, is usually all that's required to secure coverage. Automatic payments. Through payroll deduction, you'll hardly feel the financial hit of paying premiums every month. Individual Life Insurance As its name implies, an individual policy is one in which you apply for coverage on your own. You, or a family member, will own the actual policy. To obtain an individual policy, you'll probably have to undergo a medical exam of some sort, provide a detailed medical history, and give the insurance company permission to look into your medical records and perform a background check on any driving offenses or criminal activities. This might sound a little invasive, but there are some great benefits to owning an individual life insurance policy.

It's portable. If you take a new job at a different company, you don't have to worry about losing your life insurance protection. Level premiums. Generally, individual policies can be structured to have level premiums for the duration of the policy. Flexibility. If you ever want to upgrade or convert your term policy to a permanent policy, you might have more options available with an individual policy than you would with a group plan.

What If I Don't Die? Ironically, some people who buy term life insurance get upset when they find out that if they don't die, they don't get anything back. If this is a concern for you, it's important to get an understanding of what will happen to your policy as you near the end of the term.

As you near the end of your policy term, you may have the option of keeping your policy. If you do, and you have been paying level premiums, you can expect a hefty jump in your premium. So, if you are still healthy at that point in your life and you want to keep the coverage, it may be best to apply for a new policy.

Perhaps you only wanted your policy to cover you as long as you had a mortgage, or until your children's college education was paid for. If that's the case and you have no other obligations to protect, you might want to let the coverage expire.

How Can I Upgrade My Current Policy? Most term policies come with a "conversion privilege." This allows you to essentially trade in your old term policy for a new permanent policy and continue paying premiums, which may be higher. This is a great feature that provides future flexibility, but because some policies have limitations, you should familiarize yourself with the conversion rules of any policy you're considering.

The conversion privilege might have a time limitation on it.2 For example, you may have to convert it before you hit a certain age. Other policies allow conversion during the entire term of the policy. The most generous term policies allow you to convert to any type of permanent policy available, such as whole life, universal life or variable universal life. Some term policies may force you to convert to one type, and some companies may not offer all types, which can limit your options.

Where Do I Buy a Policy? A number of online companies offer term insurance policies. These distributors typically focus on finding the policy with the lowest cost based on the personal information you provide.

For a more personalized experience, you might consider finding a professional. An insurance agent will help you understand the different types of insurance and should be able to answer any questions you might have. You can find one by visiting any of the major company websites or combing through your local phone book, but probably the best way to find a representative is to ask for a referral from a friend or business associate.

Finally, for group coverage, you can check with your employer. If you're self-employed, you may have access to a group plan through a professional association, or you may even be able to put a group plan in place for yourself and your employees.

The Bottom Line After going through these five questions, you will be able to decide for yourself if that million-dollar coverage offered in the ad is really what you need to provide for you and your family. If it's not, don't be afraid to pass it by—there are hundreds of policies waiting to provide you with the peace of mind you're looking for.

areteautomation #lifehealthadvisors

Credits to: BARRY HIGGINS Date Posted: July 18, 2021 Source: https://www.investopedia.com/articles/pf/08/term_life.asp

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tristfuel-blog · 4 years

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Tricks On How To Achieve The Best Life Insurance Available

Purchasing a life insurance policy is important. By getting the right policy, you can make sure your family will be taken care of should something happen to you. Continue reading to find a selection of handpicked tips and tricks which will help you to buy the right policy for you.

When considering life insurance, it is best to buy it as soon as possible in your career. Rates will only go up as you get older, and with the addition of other ailments that you might be diagnosed with you may not even qualify for coverage. Start as early as you can and try to lock in a low rate.

If you are between the ages of 20 to 50, term life insurance is the simplest and most effective type of insurance. Cash value insurance truly makes sense for those who are wealthy and over the age of 50. A cash value plan may be tempting, but it won't be as effective.

When considering purchasing life insurance, you must first understand your needs. You understand your financial situation better than anyone else, so do not let anyone convince you to purchase a policy you are not comfortable with purchasing. If you add your debt, estimated funeral costs, and 6-12 months of income replacement, then you can get an estimate of your insurance needs.

When pursuing a broker to give you options for your life insurance policy, you should never accept a one-meeting recommendation. This is because after just one meeting, a broker has not analyzed your situation very carefully and considered all options for you. Therefore, you should not accept the offer and continue researching on your own.

Lower the cost of life insurance by quitting smoking. Smoking is one of the biggest health risk factors from an insurance standpoint, but some life insurers will reduce your rates with just one year of being smoke-free. After two to three years of non-smoking status, some insurance companies will put individuals into the standard rate class, reducing premiums substantially.

Consider a convertible policy if you cannot decide between term or permanent life insurance. This type of life insurance policy starts out as term life insurance, and if they choose to before the term expires,the insured can convert the policy to permanent insurance without having to take a new medical exam.

Make adjustments on your plans as needed. Life changes to your policy can greatly affect it. Things that can cause a change to coverage, include marriage, divorce, birth of a child or the beginning of caring for an elderly parent. You could even reach a point, most likely after your kids reach adulthood and your retirement amount is achieved, where you could stop life insurance coverage altogether.

Buy your life insurance policy from a reliable company that is still likely to be around to pay your death benefit should you pass away 10, 20 or 50 years from the time you purchase it. Avoid unfamiliar insurance companies that don't have a proven track record. You're much safer going with one of the well-known companies that have been in business for decades.

Health Insurance

Life is unpredictable. Disasters can happen at any moment. Prepare for life today by buying insurance, not only for you house and car, but also health insurance that covers dental and doctor visits. If you are injured in a way that impairs your work, getting medical assistance is vital to you maintaining your lifestyle.

Be the early bird when it comes to purchasing life insurance. One way to save money on life insurance is to purchase it early in life while one is still in good health. Insurance premiums can be quite high for those who wait too late or until health problems are emerging.

Be cautious when you see a benefit cap in your health insurance policy. While adding a benefit cap can greatly lower your premiums, it may end up costing you a lot more in the long run. If you have a benefit cap set at $25,000, but have an accident resulting in $75,000 in hospital bills, you will be required to pay the difference.

Check to make sure if you can enter into a group plan insurance policy or not through your employer. It is often the case that the same companies offering group health insurance will also have group life insurance policies available for a fraction of the cost of purchasing the policy solo.

Life Insurance

Drop bad habits and get into good shape prior to opening a life insurance policy. If you are in good physical health, you are likely to get a better rate from your provider. Smoking, high cholesterol, blood pressure, as well as depression, can drive up your rates more than you would think.

Be sure to tell the truth when applying for life insurance. The company you are applying for a plan with will more than likely verify that the information given on your application is the truth. Being caught in a lie with these companies could prevent you from getting life insurance.

You will want to find a life insurance company that cares. There are some life insurance companies that will offer competitive rates for some medical conditions (diabetes, heart disease and cancer). These companies are much more family friendly and don't just put everyone in a group. Their charge is based off of what you really need.

Think through how you want to purchase life insurance. There are a lot of options available, so you will save yourself time and frustration by deciding how you want to buy your policy. Some of the choices include buying the insurance right from the company, purchasing it through an insurance agent or going through a financial planner.

As stated earlier, life insurance is intended to provide for your family in case of your unexpected death. Tragedies do happen and loved ones need to be cared for. Don't settle for the first policy that comes your way. Your family has specific needs, and you have to find a policy that addresses those needs. The helpful advice here can help you get the life insurance that fits your needs. Sung Kang - Health and Life Insurance Broker 7015 W Hefner Rd, Oklahoma City, OK 73162 USA (405) 492-4670 https://www.healthmarkets.com/local-health-insurance-agent/skang/ https://sung-kang-health-and-life-insurance-broker.business.site https://goo.gl/maps/X1hg85V1WBwPjBvH6 https://www.google.com/maps?cid=7954910670250436395

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lariosrbacreejw68insurance-blog · 5 years

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URGENT Life insurance MONEY question?

I am 18 and in a year my boyfriend and I plan to move to brooklyn. My father passed away when I was 12. I have 4 Guadians and they control the money I received from his life insurance. They set up that I don t recieve the money until I m 21. If I can prove I have an apartment and job can I recieve the money when I m 19 ?

BEST ANSWER: Try this site where you can compare free quotes :cheapinsurancequotes1.info

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wpinsurances · 3 years

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Different Types Of Life Insurance

New York iife insurance is an agreement between an insurer as well as an insurance policyholder. Life insurance policy assures the insurance firm pays an amount of cash to called recipients when the insured policyholder passes away for the premiums paid by the policyholder throughout their lifetime.

There are so many choices for buying a life insurance policy, but it’s not as complicated as it might appear. There are essentially two kinds of plans: term life insurance policy and whole life insurance policy.

What sort of life insurance is best for you? That relies on a selection of variables, consisting of how much time you want the plan to last, just how much you wish to pay and whether you intend to utilize the plan as a financial investment lorry.

How Life Insurance Works

When you purchase a life insurance policy, you pay premiums to an insurance company. In return, the firm consents to pay a death benefit to your beneficiary, which can be any individual you pick, such as your spouse or kids. Many companies can provide this security at a budget-friendly cost, despite your age.

What are the different types of life insurance?

Many different kinds of life insurance policies are offered to satisfy all sorts of needs and preferences. Depending on the individual’s brief or long-lasting requirements to be insured, the significant choice of whether to pick temporary or irreversible life insurance is essential to think about.

We’ll clarify everything you require to learn about adhering to eight types of life insurance:

Term life insurance.

Whole life insurance.

Universal life insurance.

Variable life insurance.

Simplified issue life insurance.

Guaranteed issue life insurance.

Group life insurance.

life insurance ny

Types of life insurance are separated right into two broad groups: term as well as irreversible. Term life insurance coverage lasts for a collection period of years. Irreversible life, additionally known as an entire life, can last as long as you live.

Term life insurance

Term life insurance policy lasts for a variety of years before it expires. If you die before the term is up, a set quantity of cash, referred to as the survivor benefit, and is paid to your marked recipient. Term insurance policy is considered the most straightforward, most easily accessible New York life insurance policy plan.

Term Insurance is the easiest kind of life insurance. It pays just if death happens during the policy, which is typically from one to 30 years. Many term plans have no other benefit arrangements. Term life insurance is a way to obtain the protection at an economical initial rate, understanding that rates will undoubtedly arise as you age.

Decreasing Term Life Insurance Policy– reducing term is sustainable term life insurance with insurance coverage lowering over the policy’s life at an established price.

Exchangeable Term Life Insurance– exchangeable term life insurance allows policyholders to convert a term policy to a long-term insurance policy.

Sustainable Term Life Insurance– is a yearly eco-friendly term life plan that provides a quote for the year the plan is purchased.

Permanent life insurance

Long-term life insurance remains in force for the insured’s entire life unless the insurance holder stops paying the costs or gives up the plan. Entire life insurance commonly lasts up until your fatality, as long as you pay the costs. In general, your premiums remain the same, you obtain an assured rate of return on the policy’s cash value, and the death benefit amount doesn’t transform. In the case of the whole conventional life, both the death benefit and the premium are made to remain the same (degree) throughout the policy’s life. The cost of advantage rises as the guaranteed personages, and also it certainly gets very high when the insured lives to also past.

The insurance provider could charge a premium that raises annually, but that would certainly make it extremely hard for most people to manage life insurance at advanced ages. So the firm keeps the cost level by billing a cost that, in the beginning years, is more than what’s obliged to pay claims, investing that cash, and then using it to supplement the degree costs to pay the cost of life insurance for older people. A long-term life insurance policy can provide costs that will not rise as you age; plus, it builds money value that gathers gradually.

Entire life supplies lifetime protection as long as you pay the premiums. Nevertheless, the money worth part makes whole life a lot more intricate than term life due to surrender fees, taxes, interest, and various other specifications.

What type of life insurance is most suitable for you?

Term life insurance plans are typically the very best option for many people who need a life insurance policy. They’re usually the most affordable, straightforward to understand, and also they offer the specific security that lots of people shopping for a plan would certainly want.

That doesn’t imply that other life insurance policy plans kinds are wrong for everybody. Some individuals promote the benefits of an irreversible New York life insurance policy plan as a “forced savings car.”

Many people battle to save sufficiently for retirement. A long-term plan provides separate money build-up for something they would certainly be spending for anyhow (their life insurance policy plan).

Simplified problem and ensured concern life insurance policy are choices for individuals who could not have the ability to or else obtain guaranteed because of age or poor health and wellness.

A final cost insurance policy is offered for senior customers who intend to worry their households with burial costs.

You must always speak to an accredited independent broker or a monetary consultant to figure out the very best insurance provider and policy for you. They can help you weigh out the benefits and drawbacks of each type of protection as well as aid you acquire the right kind of insurance coverage for your needs.

Address: 70 East Sunrise Highway Suite 500 Valley Stream, New York 11581

Email: [email protected]

Phone: (516) 323-8558

Website: Pamphile Insurance Brokerage, LLC

Blog: Different Types Of Life Insurance

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moneymerlion · 3 years

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Guide to Universal Life Insurance in Singapore

What is universal life insurance?

Universal life insurance in Singapore can be considered a logical factor for retirement and legacy planning. It typically lasts your entire life and is used to leave a legacy for your future generation.

Besides offering insurance coverage for your life, a universal life insurance policy also offers you a saving portion, which allows you to accumulate cash value.

Any amount of premiums paid above the required minimum for your cost of insurance can be saved for future usage.

At first instance, it seems that universal life insurance is similar to whole life insurance but the former actually provides much more flexibility than the latter.

For example, when you are unable to make premium payments for your universal life insurance, the premium amount can be deducted from the cash value you have saved up instead of your policy ceasing.

In the next section, we’ll provide a comparison between them along with term-life insurance and how they can benefit you in the long run.

Universal Life vs. Whole Life Insurance vs. Term Life

Term Life Insurance Whole Life Insurance Universal Life Insurance Coverage offered Death, Terminal Illness, and Total and Permanent Disability (sometimes offered as a rider) Accumulates cash value? No Yes Yes Affordability Yes Much expensive than term life insurance More expensive than term life insurance but can be cheaper than whole life insurance Premium payment amounts Typically fixed Typically fixed Provides for greater flexibility (adjustable) Death Benefit Fixed Fixed Flexible (adjustable)

Generally, universal life insurance also has a higher rate of growth for your cash value compared to the other two.

Furthermore, you also have the option to withdraw or top-up from your universal life insurance plan throughout the policy term.

Compared to whole life and term life, universal life insurance offers the insured much more customisation and flexibility.

This makes universal life insurance very attractive to citizens with a high net worth and amongst people who have high-value assets, as this policy type contains the advantages of both whole life and term life insurances.

Types of Universal Life Insurance in Singapore

There are 3 primary universal life insurance types:

Traditional

Variable

Indexed

The main difference between these 3 types of universal life insurances that you should note is how the returns are produced.

Traditional Universal Life Insurance

Traditional universal life insurance is usually fully invested into bonds, whereby the crediting interest rates determine your cash value gains. A traditional type of universal life insurance is generally the cheapest within the group.

Variable Universal Life Insurance

Variable universal life insurance means the growth of value depends primarily on the type of chosen investments and the funds involved, such as financial indexes.

As the name indicates, performance may be inconsistent with no definite pattern.

A variable universal life insurance works similarly to an investment-linked insurance plan.

Indexed Universal Life Insurance

A mixture of variable and traditional life insurance. You can choose where your investment is allocated depending on your risk appetite.

For instance, if you have a high-risk tolerance you may choose to invest a higher proportion to indexes (variable) and lesser to “fixed-income” investments like bonds (traditional).

Advantages of Universal Life Insurance

Coverage Adjustment

It is possible to adjust and alter coverage after a certain number of years if a specific benefit is no longer needed.

You can increase the cash value by adding to it so that you can adapt to change.

Relatively Affordable

It is comparatively more affordable than other forms of life insurance. Especially when compared to a term plan.

However, a universal life policy might or might not be cheaper than a whole life plan.

Flexible Premium Amounts

Another major advantage is the ability to determine the amount of premium to be paid by the policyholder. Paying additional premiums over time can boost cash value.

With more premiums paid, you can even adjust the death benefit based on your situation in life. You have the power to either increase or decrease your death benefit.

Premium Financing

With a universal life insurance policy, your cash value can be used to finance your policy should you be unable to make premium payments.

Loans can also be obtained as leverage to finance your policy, although there are no tax benefits for you.

Disadvantages of Universal Life Insurance

Not the Cheapest Option

The premium fees are higher than other forms of life insurance, such as term life insurance. If price is a concern, consider a term plan instead.

Potential Complicated Fee Structure

Having a universal life plan involves paying different types of fees that can be complicated, so you need to understand all the workings of the fees involved.

Chance of Decreased Cash Value

As premiums are used to purchase investments, your cash value may decrease if there are market losses involved.

Policy Lapse

Despite the flexibility options in a universal life policy, the no-lapse assurance will end in due course of time if you rely on the cash value to fund your policy.

This means that if the market performance has not been satisfactory, the cash value would not be able to cover all the fees. Thus, leading to policy lapse.

What to look out for when choosing a universal life insurance plan?

Before you make your final decision about universal life insurance, there are a few things you should consider and look out for.

Choosing based on your financial goals

If you have goals to save your money for an extended period of time, you’ll want to definitely maximise your savings along with plans that are based on retirement.

It is therefore important to consider universal life insurance according to your financial objective.

Realise the payment options

Since universal life insurance policies allow you to raise or lower the premiums based on your financial situation, it’s flexible enough for you to maintain the policy in effect for ages to come.

Understanding this feature will help you in handling your finances aptly.

Understand the returns you will receive

Due to the great degree of flexibility under universal life insurance plans, the actual returns you will receive might be lesser than advertised. It is important to have a thorough understanding so that you will not get a shock later on.

Best Universal Life Insurance plans in Singapore

Choosing a trusted insurer is important. So, we’ll give you a list of plans that are worth considering based on the 3 types of universal life insurance.

Traditional:

Transamerica Universal Life Alpha

AIA Platinum Legacy

Manulife Heirloom

HSBC Jade Legacy / Legacy Ultra

Singlife Universal Life

Indexed:

Manulife Signature Index Universal Life

Manulife Signature Index Universal Life Select

Variable:

AXA Privilege Wealth VUL

AXA Private Wealth VUL

Swiss Life Alpha

Swiss Life Alpha Plus

Choosing an obscure insurer is not recommended as they may care more about their own interest, such as lower interest rates and higher insurance costs.

A reputed insurer will, however, give you a better chance at maximizing your financial goals and putting you in a better economic position. A larger insurer is less likely to engage in shady or unwanted practices during your tenure with them.

Where Can You Buy Universal Life Insurance in Singapore?

Since life insurance is something that should be understood thoroughly, seeking the help of professionals is important. In Singapore, you can seek advice and insight from banks, insurance agents, and financial advisors.

While seeking advice from banks, keep in mind that they’ll promote only the insurance products that they’re tied up with. The situation is somewhat similar for insurance companies or agents as they’ll push only the insurance plans they’re representing.

Additional Reading: Independent Financial Advisors vs Financial Advisor vs Tied Agents

You would not want to make a decision that you’ll regret in retrospect. So make sure to do your research and look further into topics that are based on universal life insurance.

Conclusion

Choosing universal life insurance in Singapore is something that one should not take lightly as you’re putting both your family’s and your own future on the table.

Like any other type of insurance, a universal life plan has its own upsides and downsides too.

Your future generation will benefit from smart financial choices if you make the right decisions.

Whether your goals are maximising your wealth, increasing cash value, or leaving a legacy where your family will be comfortable, you should think about capitalising on your financial holdings to convert them into something greater.

If you have any doubts about making the best financial decision for yourself and your family, the most logical method is to seek advice and insight from experienced financial advisors.

They’ll think in your best interests and won’t try to force any product on you. They’ll help you find the best plan that suits you.

source https://singaporefinancialplanners.com/blog/universal-life-insurance-singapore/

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bestlifeinsurancecoverage · 1 year

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Understanding Life Insurance Coverage

The death of a loved one can be devastating, but life insurance coverage is there to provide some protection for your family. Your policy pays a death benefit to beneficiaries, which can be used for a variety of things, from funeral costs to paying off debts.

There are many misconceptions about the need for life insurance, but it is important to know that this coverage can be affordable and reliable. It can also be a great way to prepare for the future of your family.

Term policies offer coverage for a fixed period, such as your child's college tuition or the mortgage on your home. They typically have a lower death benefit than permanent policies, but can be converted into a permanent policy at any time.

Whole life policies are more expensive than term policies, but they build cash value over the years that you pay for them. You can choose to have your death benefit paid in cash, use it to reduce premiums, or let it accumulate at interest.

Modified life plans are also available for those who can't afford regular whole life. These are similar to whole life plans, but you pay a lower premium for the first few years and higher rates in later years.

A life insurance policy can be purchased individually or through a group, such as your employer's benefits plan. You can also buy life insurance online, in the form of an "e-policy."

Buying a life insurance policy is a complicated process that requires careful consideration of your personal financial situation and goals. You'll want to understand how much coverage you need, how long you'll need it for and what your beneficiaries will receive.

The best way to decide how much coverage you need is to sit down with a financial professional. They'll help you weigh your needs against your budget, and can recommend a plan that's right for you.

You should always be honest with your financial advisor about your circumstances and goals. A good life insurance broker can be invaluable in this process, and he or she can recommend the best policy for your specific needs.

Whether you're buying individual or group life insurance, it's important to be aware of the common myths that can prevent people from getting the coverage they need. These common misconceptions include that you must be older to get a policy, that there's a penalty for not taking out a policy when you're younger and that you can't increase your coverage after you've made healthy lifestyle changes.

Accidental deaths

There are other types of coverage, too, that can be added to a life insurance policy. These are known as "riders." The most common rider is an accidental death benefit, which pays a percentage of the death benefit if you die from an accident.

Suicide and high-risk hobbies

If you buy an insurance policy, it's very important to be honest about your lifestyle. If you engage in criminal activities, have a history of drug or alcohol abuse or engage in high-risk hobbies, your policy may not cover your death.

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architectnews · 3 years

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RIBA News & Events 2021, London

RIBA Events 2021, Architecture Gallery London, UK Buildings, British Architects News

RIBA News & Events 2021

Royal Institute of British Architects Exhibition + Talks + Events in London, England, UK

15 July 2021

RIBA UK News

RIBA launches Fire Safety Compliance Tracker

Thursday 15th of July 2021 – The Royal Institute of British Architects (RIBA) has launched a new tool for its members to record and share fire safety information.

The RIBA Fire Safety Compliance Tracker records how a project has been designed and developed in accordance with Part B (Fire Safety) of the Building Regulations.

It can be used to provide compliance information to the design team or kept internally within your practice to help your team track compliance and to confirm the architectural design aligns with the fire strategy

The Tracker is based on the International Fire Safety Standard: Common Principles (IFSS-CP) and its associated Framework.

Find out more about RIBA’s work to drive building safety regulatory reform here.

RIBA President, Alan Jones, said:

“This is a valuable new tool that will help architects to demonstrate the detailed steps they have taken to protect buildings and people from the risk of fire. We remain seriously concerned about the rising costs of Professional Indemnity Insurance and the increasing prevalence of fire safety exclusions, and hope this new Tracker will provide additional reassurance for brokers and clients. I strongly encourage all practices to start working with it on their projects.”

RIBA Fire Safety Expert Advisory Group Chair, Jane Duncan, said:

“2021 marks the beginning of long-overdue regulatory reform prompted by the tragedy at Grenfell Tower, subsequent Hackitt Review and vociferous calls from the RIBA and others for clearer, stronger and enforceable regulations. It’s clear the whole industry requires a culture change, and I’m proud of RIBA’s efforts to place architects at the forefront. That includes the introduction of fire safety mandatory competences and this new tool, which will guide critical decision making and assist members to demonstrate regulatory compliance.”

17 Jun 2021 RIBA invites students, practices and schools of architecture to trial The RIBA Compact ethical framework

Thursday 17th of June – The Royal Institute of British Architects (RIBA) is encouraging architecture students, schools of architecture and Chartered Practices to trial The RIBA Compact – a framework designed to enhance student experience in the workplace.

The RIBA Compact sets out a series of commitments for Chartered Practices, architecture students, schools of architecture and the RIBA, including a requirement for clear contracts of employment for students, with no unpaid overtime and effective support in achieving PEDR requirements. Feedback from this pilot phase will help refine The RIBA Compact ready for its proposed roll-out from September 2021, when obligations for schools of architecture will form part of the new RIBA validation procedures.

The framework may potentially become a mandatory requirement of the RIBA Chartered Practice criteria from January 2022, subject to further consultation and formal approval.

RIBA President Alan Jones said: “The launch of The RIBA Compact is an important further step in our commitment to good employment practice and our help to manage expectations and commitments of employers, employees and our validated schools of architecture. We recognise the pressing need to support our members, practices and their employees in realising sustainable businesses, positive mental health and wellbeing, to help remove barriers to progression and provide equal opportunities for all those aiming to enter the profession. I encourage everyone eligible to take part in the pilot and help shape a framework that will help deliver the results we all need.”

RIBA Council Student Representative Maryam Al-Irhayim added:

“Architecture students and young professionals have the right to be treated fairly and safely in the workplace, and The RIBA Compact will help ensure they are supported in their journey to becoming qualified architects. I’m excited to see The Compact come to fruition and as an elected representative for students, I urge student members to help trial this framework. I guarantee you won’t regret it.”

Architecture students/graduates, Chartered Practices and schools of architecture can sign up for the trial before 12 July 2021. To find out more visit: https://ift.tt/3i9ZnSJ

16 Jun 2021 Committee on Climate Change warns UK homes at risk of overheating and flooding – RIBA responds

Wednesday 16th June 2021 – The Royal Institute of British Architects (RIBA) has responded to the Committee on Climate Change’s latest assessment indicating that the UK is struggling to keep pace with climate change impacts. The report highlights the urgent need to mitigate risks to human health, wellbeing and productivity from increased exposure to heat in homes and other buildings.

RIBA President, Alan Jones, said:

“This is a damning assessment of the UK’s climate action progress. Architects have key skills and experience needed to mitigate some of the disastrous effects of climate change – and we are committed to supporting them through initiatives including the 2030 Climate Challenge.

But the Government must also step up and set adequate regulatory standards. The proposed means to address overheating within the Future Buildings Standard remains far too basic; the Heat and Buildings Strategy is long overdue; and we still lack a clear plan to retrofit existing homes – not only to reach net zero, but to improve the quality of life for those who live there.

I hope this assessment prompts the Government to go further and faster, and recognise the importance of architects and good design.”

10 Jun 2021 Record high for private housing sector – RIBA Future Trends May 2021

Thursday 10 June 2021 – In May 2021 the overall RIBA Future Trends Workload Index increased by 6 points to a balance figure of +30. This indicates a level of optimism about future workloads among architects not seen since 2016. 40% of practices expect workloads to grow in the coming three months, half (50%) expect them to remain the same, and 10% expect it to decrease. These results indicate that recovery continues.

May’s standout trend was in the private housing sector, which at +42, is the highest Workload Index for this sector since the Future Trends survey began (2009). Almost half (48%) of practices expect workloads to grow in this sector.

The commercial and public sectors are also increasingly positive with the commercial balance figure up 2 points to +9 and the public sector gathering a little momentum, with a rise of 2 points to +5. The community sector remains in negative territory, posting a balance figure of -3, down from -2 the previous month.

In terms of practice size, confidence among small practices (1 – 10 staff) rose with a future workload balance figure of +27, an increase of 7 points. Confidence among large and medium sized practices (11 – 50 and 51+ staff) fell back somewhat, with a balance of +45. Nevertheless, a majority (55%) anticipate increasing workloads.

All regions anticipate increasing workloads over the next three months, with some reporting extremely strong levels of optimism. Practices in Wales & the West posted May’s highest balance figure, an extremely positive +55, with no practices expecting workloads to decrease.

Optimism in London continues to grow, with a balance figure of +22, up from +12 in April. The South of England’s balance figure also improved further, with a balance figure of +25, up from +19 the previous month.

Anticipation of future workloads has dropped back in the Midlands & East Anglia, though it remains firmly positive; here the balance figure in May is +14, compared to +26 in April. Similarly, the North of England has returned a strong but somewhat reduced workload balance figure; +37 in May, compared to +44 in April.

In terms of staffing:

The RIBA Future Trends Staffing Index kept its steady climb and increased by 3 points to +14

19% (up by 4%) of practices expect to employ more permanent staff over the coming three months, whilst 5% expect to employ fewer. Three-quarters (76%) expect staffing levels to stay the same over the coming 3 months.

Personal underemployment fell again and now stands at a to 16%, a level last seen in 2019.

RIBA Head of Economic Research and Analysis, Adrian Malleson, said:

“This month report indicates a strong and sustained recovery of the architect’s market from the lows of 2020. The Private Housing sector posted a record high for future work, and work from the Commercial and Public sectors are also set to continue to grow. Practices in all regions are positive about the coming months, with notable hotspots in Wales & the West and the North.

The RIBA Future Trends survey indicates that the architects profession has so far successfully navigated the unprecedented Covid-19 storm and is in a better position now than many may have anticipated a year ago.

The additional comments received from architects aligns with the positive figures. Practices have reported strong levels of enquires, with many of these converting into appointments. Now is a generally busy period, with some new jobs queued until later in the year.

Whilst there are high levels of private housing work – from one-off extensions through to larger-scale work for developers – there are also reports of workloads growing in non-residential work.

28 May 2021 “A fraction of the investment required” – RIBA response to Government cash boost to cut carbon emissions

Friday 28th of May 2021 – The Royal Institute of British Architects (RIBA) has responded to the Business and Energy Secretary’s announcements: £44million funding package and the Together for our Plan ‘Business Climate Leaders’ campaign.

RIBA CEO, Alan Vallance said:

“The funding announced today to improve the energy efficiency of our building stock is a step in the right direction. However, it’s just a fraction of the investment required to address the scale of the issue at hand.

The Government must urgently set out a comprehensive framework and publish its long-overdue Heat and Buildings Strategy. As outlined in our Greener Homes’ campaign, it must include a long-term policy and investment programme for upgrading the energy efficiency of our housing stock, and a National Retrofit Strategy, which incentivises homeowners to make the necessary changes.

I welcome the Government’s recognition of the important role small businesses will play in reaching net-zero. RIBA Chartered Practices, many of whom fit into this category, are already taking steps to reduce their carbon impact by signing-up to the RIBA 2030 Climate Challenge – which calls on architects to meet net-zero (or better) whole life carbon for new and retrofitted buildings by 2030.

We will continue to support our sector to drive forward change. We must all play our part in tackling the climate emergency.”

24 May 2021 RIBA and Google Arts & Culture launch new digital partnership RIBA and Google Arts & Culture partnership

RIBA calls on Government to go further and faster to decarbonise housing stock

Friday 14th of May 2021 – The Royal Institute of British Architects (RIBA) has today commented on the Government’s response to the Environmental Audit Committee’s Fourth Report – Energy Efficiency of Existing Homes.

RIBA President, Alan Jones said:

“The Government’s response to the EAC’s report does not demonstrate the urgency that is vital if we are to improve the energy efficiency of our existing housing stock and reach net-zero by 2050.

As our ‘Greener Homes’ campaign outlines, to drive real change the Government must implement a National Retrofit Strategy – a long-term policy and investment programme for upgrading the energy efficiency of our housing stock. We need substantial and sustained government funding, green finance options and incentives for homeowners.

Retrofitting and decarbonising our existing housing stock must be at the heart of the Government’s response to the climate emergency. We now eagerly await the publication of the long-overdue Heat and Buildings Strategy, and hope it provides the framework so urgently required.”

12 May 2021 Architects’ confidence remains strong – RIBA Future Trends April 2021

Thursday 11th of May 2021 – In April 2021 the overall RIBA Future Trends Workload Index fell by 5 points to a balance figure of +24, after an increase in March. Whilst the previous month’s optimism has moderated, expectations about future workload remain strongly positive.

Thirty-four per cent of practices expect workloads to grow in the coming three months, whilst most (56%) expect them to remain the same. The percentage expecting workloads to decrease has fallen to 10%. Practices of all sizes are expecting workloads to increase, with larger practices remaining the most optimistic.

All regions reported an expectation of increasing workloads over the next three months. London practices maintained a positive outlook with a balance figure of +12. The South of England remained confident with a balance figure of +19, although this is a drop of 13 points from last month’s high of +32. The Midlands & East Anglia went further into positive territory, up six points from last month, with a balance figure in April of +26. Wales & the West continued to report a firmly positive outlook, posting a balance figure of +31. The North of England remained the most optimistic region, with a balance figure of +44.

Among the work sectors, private housing remains by far the strongest, posting a balance figures of +35 in April (compared with +36 in March). All sectors are broadly steady in their outlook, although the community sector has dipped to a negative balance figure.

Like the previous month, the commercial sector posted a balance score of +7, maintaining a positive view of the workload to come. However, the accelerated trend to online shopping may continue to suppress the retail sub-sector, and future requirements for office space remain unclear.

Optimism about the public sector grew slightly this month, to +2, up from zero last month. The community sector dipped back into negative territory this month, posting a balance figure -2, down from zero last month.

In terms of staffing:

• The RIBA Future Trends Staffing Index increased by 4 points to +11 this month. • 5% of practices expect to employ fewer permanent staff in the coming three months, while 15% expect to employ more. A clear majority (80%) of practices expect staffing levels to be constant over the coming three months. • Medium and large-sized practices (11+ staff) continue to be most likely to recruit permanent staff in the coming three months, with both groups posting strongly positive figures of +43. Over 40% anticipate some increase in permanent staffing levels over the next three months. • With a balance figure of +6, small practices (1 – 10 staff) also expect staffing levels to grow, although fewer smaller practices anticipate recruitment. • The Temporary Staffing Index returned a balance figure of +5 in April • For the first time since 2019, London has posted a positive permanent staff balance figure. Up from zero in March, April’s figure is +9, with 13% of practices anticipating recruitment. • The South of England (+6, up by two points) and the Midlands & East Anglia (+8, up by 6 points) are moderately optimistic about future staffing levels. • The North of England (+15, up two points) and Wales & The West (+13, down 5 points from March) remain comparative employment hot-spots. In Wales & The West, more than a fifth (22%) of practices expect permanent staff numbers to increase. • Personal underemployment fell to 18% (by 2 points) in April. Overall, since the onset of the pandemic, redundancies are at 3% of staff. Seven per cent of staff remain on furlough. Staffing levels are at 99% of a year ago. • The savage reduction in staffing levels that many feared at the start of the pandemic has not materialised.

RIBA Head of Economic Research and Analysis, Adrian Malleson, said: “Whilst the overall Workload Index has fallen slightly and confidence has moderated in some areas, April’s Future Trends marks a consolidation of March’s surge in practice optimism. Practices are increasingly confident about longer-term profitability, with 16% expecting profits to rise over the next year and 39% expecting them to be steady.

Challenges remain for a significant number of practices, however, with 4% suggesting they are unlikely to remain viable over the next 12 months, and a third expect profitability to fall (although both these numbers continue to come down).

The commentary received in April describes a growing market for architects’ services – high levels of work and enquiries, with staff increasingly being brought off furlough to meet demand.

Work in sectors such as education is increasing but the fastest growth is in the residential sector, with projects such as energy retrofits, extensions and refurbishments needed to support home working. There are regional hot spots as people relocate, often from London. However, whilst there is more work, in many cases it is lower value than pre-pandemic. Practices have also reported that a slow pace of planning administration continues to put a brake on some projects.

RIBA continues to be on hand, providing support and resources to our members as they navigate these challenging times.”

11 May 2021

RIBA responds to the Queen’s Speech

Tuesday 11th of May 2021 – The Royal Institute of British Architects (RIBA) has responded to the 2021 Queen’s Speech.

RIBA President, Alan Jones, said:

“Poorly resourced and mismanaged planning imposes permanent damage on our communities, environment and economy; I therefore welcome today’s promise to progress reforms to the planning system. But reforms cannot be used as an impulsive means to boost housing numbers at the expense of quality.

We urgently need well-designed, safe and sustainable homes and spaces that support and strengthen communities. This relies on utilising the expertise of architects from the outset, and taking tougher action against developers who fail to raise their game.

In addition to the Planning Reform Bill, I welcome the progression of the long-awaited Building Safety Bill and introduction of the Professional Qualifications Bill, which paves the way for post-Brexit agreements that are critical to the strength and success of the UK architects’ profession. We will continue to engage with the Government on these critical issues on behalf of architects and the society we serve.”

29 Apr 2021

RIBA pilots Health and Life Safety test

Thursday 29 April 2021 – Following the publication of proposed mandatory competence requirements, the Royal Institute of British Architects (RIBA) has today launched a pilot test to assess understanding of Health and Life Safety.

As outlined within The Way Ahead, Health and Life Safety is the first area in which UK Chartered Members would be required to demonstrate their competence, from 2023. Followed by Climate Literacy and Ethical Practice.

Hosted online at RIBA Academy, the test asks a set of multiple-choice questions within seven areas of assessment, to correspond with the RIBA Health and Safety guide:

Preparing to visit site

Undertaking site visits

Site hazards

Design risk management

Statute, Guidance and Codes of Conduct

CDM Regulations

Principles of Fire Safety Design

The RIBA currently seeks feedback on these assessment areas alongside those for other proposed mandatory competences. RIBA Members are encouraged to complete the survey by 17 June 2021.

RIBA President, Alan Jones, said:

“We must ensure our members have the knowledge, skills and experience needed to tackle the UK’s evolving building safety crisis.

The tragedy at Grenfell Tower, subsequent Hackitt Review, and more recent fire safety catastrophes have not only highlighted the urgent need to reform regulations, but to raise standards of professional competence across the construction industry.

I urge members to take this pilot test and offer feedback on the proposed areas of assessment to ensure we create a robust system that works for our profession and the society we serve.”

29 Apr 2021

RIBA signs Halo Code to protect against racial discrimination

The Royal Institute of British Architects (RIBA) has signed the Halo Code – the UK’s first Black hair code – to protect the rights of staff who come to work with natural hair and protective hairstyles associated with their racial, ethnic, and cultural identities.

The Halo Code was developed by the Halo Collective and brings together organisations and schools who have made a commitment to work towards creating a future without hair discrimination.

Signing the Halo Code and embedding it into policies, is part of the RIBA’s work to make its workplace and the wider architecture profession more inclusive.

RIBA Director of Inclusion and Diversity, Marsha Ramroop said: “We are committed to nurturing a culture where our staff feel comfortable bringing their whole selves to work. Despite being a protected racial characteristic, hair discrimination remains a source of injustice and by signing the Halo Code, the RIBA is taking a stand for racial equity. I encourage our members and practices to join us in driving out all forms of discrimination, by adopting the Code too.”

15 April 2021

RIBA opens £30K funding scheme for architecture students

The Hidden Seasons of Barbados, Shawn Adams, 2019 Wren Insurance Association Scholarship recipient:

Monday 26th of April 2021 – The Royal Institute of British Architects (RIBA) has today (Monday 26 April) opened applications for five RIBA Wren Insurance Association Scholarships, worth a total of £30,000.

The annual scholarships are open to students who are currently enrolled in the first year of their RIBA Part 2 course. Each recipient will receive £6,000 and the opportunity to be mentored throughout the second year of their Part 2 course by an architect from a Wren-insured practice.

The scheme, which was set up in 2013, has supported 40 recipients to date.

RIBA President Alan Jones said:

“Thank you to the Wren Insurance Association for their continued generosity to support architecture students, during a particularly challenging period. Scholarships and bursaries are an important part of our ongoing commitment to support students, and reward and retain talent in the profession, and we look forward to seeing the applications received.”

The deadline to apply is Friday 18 June 2021 and further information is available here.

Previously on e-architect:

15 April 2021 London architects confident again after 14 months – RIBA Future Trends March 2021

Thursday 15 April 2021 – In March the RIBA Future Trends Workload Index rose by 12 points to a balance figure of +29. This is the highest Workload Index balance figure since May 2016. In the last 12 months, the index has risen by an unprecedented 111 points.

All regions are becoming more positive about future work. London is the largest architecture market in the UK and, for the first time since February 2020, practices there are anticipating increasing workloads in the coming months, with a balance figure of +18 an increase of 21 balance points from -3 in February.

Forty per cent of practices expect workloads to grow in the coming three months, whilst just under half (49%) expect them to remain the same. The percentage expecting workloads to decrease has fallen again and now stands at 11% (compared to 84% a year ago). Optimism about future workloads continues to be driven by the private housing sector, although the outlook for all sectors is improved from last month.

Practices of all sizes are expecting workloads to increase, with larger practices the most optimistic. March feels like a significant turning point. The outlook of Small practices (1 – 10 staff) again rose strongly. In March small practices posted a future workload balance figure of +27 up fourteen points from February’s figure of +13. Confidence among Large and Medium sized practices (11 – 50 and 51+ staff) remains strong, with an overall balance score of +42, up 13 points on last month’s figure of +29.

March sees the South of England grow in confidence, with a balance figure of +32 this month, up from zero last. The Midlands & East Anglia has risen further into positive territory up fourteen points from last month to +20. Wales & the West posted a balance figure of +33 in March, the tenth consecutive month of a positive outlook. The most positive region this month is the North of England, with a balance figure of +47. Here only two per cent of practices expect workloads to fall, and almost a half (49%) expect them to grow.

Among the four different work sectors, private housing remains by far the strongest. However, all sectors are again up on last month, and no sector is negative. The private housing sector rose by a further 7 points to +36, a balance score that is higher than at any point since June 2015. The commercial sector returned to positive territory for the first time since the pandemic onset with a balance score of +7. Both the public sector and community sectors eased out of negative territory this month, but only just with both posting a zero balance figures.

In terms of staffing: • The RIBA Future Trends Staffing Index increased by 3 points to +7 this month. • 7% of practices expect to employ fewer permanent staff in the coming three months, while 14% expect to employ more. A clear majority (79%) of practices expect staffing levels to be constant over the coming three months. • Medium and large-sized practices (11+ staff) continue to be most likely to recruit permanent staff in the coming three months, with both groups posting strongly positive figures. • On balance, small practices (1 – 10 staff) expect staffing levels to grow somewhat, with a balance figure of +6 (up from +1), though 80% of small practices anticipate staffing levels to stay the same. • The Temporary Staffing Index returned a balance figure of +5 (up from +1 in February). • London remains least optimistic with a zero balance figure in March (though this is up from -8 in February). Eleven per cent of London practices expect to employ more permanent staff over the coming months with the same proportion expecting to employ fewer. • The South of England (+4) and the Midlands & East Anglia (+2) are cautiously optimistic about upcoming recruitment. • In line with workload expectations, the North of England (+13) and Wales & The West (+18) are the areas in which practices are most likely to expect growing numbers of permanent staff. • Personal underemployment remained at 20% in March, and staffing levels remain at 96% of a year ago. • Overall, since the onset of the pandemic, redundancies remain at 3% of staff. Seven per cent of staff remain on furlough. Eighteen per cent of staff are working fewer hours.

RIBA Head of Economic Research and Analysis, Adrian Malleson, said:

“With the vaccine programme underway, and workload prospects improving across sectors, regions and practice sizes, March’s Future Trends data shows a profession firmly optimistic about future work.

Personal underemployment has dropped from a high of 42% to 20%. Practices are more confident about their longer-term prospects, with 13% expecting increased profitability over the next year, and 29% expecting it to hold steady. However, the extremely positive rise in confidence does not mean that the challenges practices face have evaporated. Four per cent of practices think they are unlikely to remain viable over the next 12 months. Forty-three per cent, after an already extremely difficult period, expect profitability to decrease over the coming year.

The commentary received in March continues to describe a housing sector performing strongly, particularly smaller-scale domestic work. Some practices report that there is more work available than they can take on.

However, practices also mention that such work may be of comparatively low-value, and subject to intense fee competition. Longer-term, the recovery in private housing needs to be matched by growth in the public, commercial and community sectors.

Nevertheless, March’s data confirms a remarkable restoration of confidence among practices during an unprecedented 12 months.

We continue to be on hand, providing support and resources to our members as they navigate these challenging times.”

1 April 2021 RIBA responds to Commission on Race and Ethnic Disparities report

Thursday 1 April 2021 – The Royal Institute of British Architects (RIBA) has today responded to the Commission on Race and Ethnic Disparities report.

RIBA Chief Executive, Alan Vallance said:

“Systemic racism and discrimination clearly exist in the UK. We must fully acknowledge and understand this, so we can tear down the barriers and drive out injustice.

Some of the biggest built environment challenges of our times – from the climate emergency to substandard housing and fire safety – particularly impact underrepresented racialised groups and these are very high on the agenda for the RIBA and our members.

The RIBA does not absolve itself of responsibility in tackling racism and in recognising our own history. We know that people who face racism are less likely to progress in our industry, and we are working to ensure that architecture is open to all, regardless of background or circumstances. We will continue to listen to underrepresented racialised groups and work to address their concerns within our organisation and sector.

We acknowledge the Commission on Race and Ethnic Disparities report which includes some insights, for example around the term BAME and unconscious bias training. We are already taking steps to tackle these, amongst other measures.

We will take time to review the report in depth, and continue to use our influence, networks and platforms, as we work towards a better, more inclusive, built environment.”

22 Mar 2021

RIBA endorses House of Commons report on energy efficiency of existing homes

Monday 22 March 2021 – The Royal Institute of British Architects (RIBA) has responded to the House of Commons Environmental Audit Committee’s (EAC) report, ‘Energy Efficiency of Existing Homes’.

RIBA President, Alan Jones, said:

“This is a timely and well-reasoned report that outlines clear measures to make our homes more energy efficient.

I particularly endorse recommendations to implement a national retrofit strategy and pilot stamp duty rebates for homeowners that improve the efficiency of their homes within the first year – measures we’ve been calling for through our Greener Homes campaign.

Proposals to reform EPC methodology to focus on the actual performance of buildings are also encouraging, and critical to reaching the Government’s net zero target.

We need urgent action to address our shamefully inefficient housing stock – and this report shows how that can be achieved.”

11 March 2021

RIBA Future Trends in February

Thursday 11 March 2021 – Residential sector propels architects’ confidence – RIBA Future Trends February 2021

In February 2021 the RIBA Future Trends Workload Index increased by 14 points to +17, a level of confidence not seen from architects since early 2020.

Nearly a third (32%) of practices expect workloads to grow in the next three months, up from 28% (in January), whilst just over half (52%) expect them to remain the same. The number of practices expecting workloads to decrease has also fallen from 25% to 16%.

Optimism has been driven by the housing sector, which surged by 20 points this month to a balance figure of +29. Whilst it remains the only sector in positive territory, all other sectors saw a rise. The commercial sector saw the highest, up 16 points to a balance figure of -2; the public sector rose 2 points to -1; and even though the community sector posted the lowest at -6, this marks an improvement on the previous month’s figure of -15.

In February, the outlook of small practices (1 – 10 staff) rose significantly, posting a balance figure of +13, up fifteen points from January’s figure of -2. Confidence among large and medium sized practices (11 – 50 and 51+ staff) also remains strong, with an overall balance score of +29. Among these groups, 35% expect workloads to increase, and just 6% foresee a decrease.

All regions, except London, expect an increase in workloads in the near-term. Having briefly entered positive territory the previous month, London posted a negative figure of -3.

This month’s survey also asked respondents how they felt about the future of the workplace. Overall, results indicate that once a return to the office is possible, there is currently no appetite to resume pre-pandemic work patterns. Only 13% of practices expect to recall everyone to the office; almost a quarter (26%) see the future being a blend of office and home-based work; 20% look to leave the decision to staff; and 41% said they will continue to work as they are now (though how people work now is varied, with some practices already including an element of office-based working, when government restrictions allow, whilst others are fully remote).

In terms of staffing:

The RIBA Future Trends Staffing Index remained at +4 this month. It has been consistently, though only slightly, positive since October.

6% of practices expect to employ fewer permanent staff in the coming three months, while 11% expect to employ more. A clear majority (83%) of practices expect staffing levels to be constant over the coming three months.

Medium and large-sized practices (11+ staff) continue to be most likely to recruit permanent staff in the coming three months, with both groups posting strongly positive figures.

On balance, small practices (1 – 10 staff) expect staffing levels to be steady, with a balance figure of +1.

The Temporary Staffing Index returned a balance figure of +1, suggesting the market for temporary staff is positive, but only by a small margin.

London remains most likely to anticipate decreased numbers of permanent staff in the next three months, with a staffing balance figure of -8; down four points on last month. The South of England also remains cautious about upcoming recruitment, with a balance figure of zero.

Future recruitment is more likely outside of London and the South: the Midlands & East Anglia returned a figure of +6, the North of England +10, and Wales & The West at +21.

Personal underemployment fell slightly at 20%, down from 22% in January.

Staffing levels remain at 96% of what they were twelve months ago. Overall, redundancies stand at 3% of staff; 7% remain on furlough and 16% are working fewer hours.

RIBA Head of Economic Research and Analysis, Adrian Malleson, said:

“As the route out of the pandemic becomes clearer, not least due to the roll-out of the vaccination programme, February’s figures demonstrate a turning point – practices are starting to feel more optimistic about the future.

It’s clear however, that this increased confidence is partly dependent on the residential sector, fuelled by homeowners relocating or adjusting their homes to accommodate remote working, and question marks remain over the sustainability of this trend. Furthermore, practices who are reliant on work outside of this sector are yet to see their workloads increase.

Whilst the data suggests there is not currently a significant appetite to return to pre-pandemic work patterns, we also know that homeworking continues to create productivity challenges, not least because childcare and home-schooling have been impacting the working day. Commentary received from our respondents indicates that this is disproportionately impacting women.

5 + 3 March 2021 RIBA reacts to 2021 Budget

The Royal Institute of British Architects (RIBA) has published an initial response to the Chancellor of the Exchequer’s 2021 Budget. RIBA President, Alan Jones, said:

“Whilst the Chancellor’s focus is understandably on mitigating the impact of the pandemic, the measures announced today do little to reassure me of the Government’s commitment to reach net zero or drive a green economic recovery.

Some of today’s announcements – such as the UK Infrastructure Bank and green gilts – could help our economy grow back more sustainably, but that depends entirely on future investment decisions. The money pledged must be used to create green jobs and fund energy efficiency programmes such as a National Retrofit Strategy.

Taken alongside the personal allowance freeze, the corporation tax rise will have a significant impact on RIBA members and hints at wider tax changes to come. It’s therefore vital that the Government looks at how the tax system could also help tackle the climate emergency. By reviewing reforming mechanisms to incentivise sustainability the Government could successfully drive the green economic recovery that is desperately needed.”

12 Feb 2021 Architects’ confidence remains fragile – RIBA Future Trends January 2021

In January 2021 the RIBA Future Trends Workload Indexremained positive (at +3) despite the turbulence of Brexit and a third national lockdown. Whilst 25% of practices expected workloads to decrease in the coming three months, 28% forecasted an increase. Just over half (51%) expected workloads to hold steady.

The South of England was the only region to post a negative workload balance figure this month, a fall of 10 points (to -2), although optimism also decreased sharply in the North of England (falling from +29 in December to 0). London posted a positive workload balance (+1) for the first time since February 2020. Other regions – the Midlands, East Anglia, Wales and the West remain in positive territory.

Among the four work sectors, the private housing sector was the only one to remain positive, at + 9. Having posted positive figures in December, the public and commercial sectors fell back to negative territory in January, posting -4 and -18 respectively, suggesting an expectation of falling workloads. The community sector continues to stall, falling to a balance figure of -15 in January, down from -8 in December.

Large and medium sized practices (11 – 50 and 51+ staff) remain confident; 53% expect workloads to increase, and 13% foresee a decrease (overall balance score of +39). Small practices (1 – 10 staff) however fell back into negative territory in January, posting a workload balance figure of -2, down from +4 in December.

With the UK and EU’s new trading agreement in place, the survey for the first time monitored the impact of Brexit on the attitudes of architects. Overall, the new agreement is perceived to have a negative impact on the profession; 15% more architects expect it to lead to a decrease in workload than an increase. Architects indicated they expect key areas to be detrimentally affected by the new agreement: 41% stated this to be the case regarding availability of skilled on-site staff, 54% regarding recruiting/retaining architects from outside the UK and 63% regarding the availability of building materials.

In terms of staffing: • The RIBA Future Trends Staffing Index rose again in January (+4, from +2 in December). • In the next three months 83% of practices expect staffing levels to remain the same, 7% expected to employ fewer permanent staff, and 10% expect to employ more. • Medium and large-sized practices (11+ staff) continue to be those most likely to recruit permanent staff in the coming three months, with both posting strongly positive index figures. Smaller practices are more likely to expect staffing levels to hold steady, having posted a January Staffing Index figure of zero. • The Temporary Staffing Index returned a balance figure of zero in January, suggesting the market for temporary staff will remain as is. • London remains the region least likely to anticipate increased staffing levels in the next three months – returning a negative balance figure of –4. The South of England is also cautious – returning a balance figure of -6. Recruitment is more likely in the North of England (+14) and the Midlands & East Anglia (+8). • Personal underemployment stands at 22%, a slight increase on last month’s figure, but within historical norms, and significantly below the high of 42% in the first lock-down. • Staffing levels are 96% of a year ago. Overall, redundancies stand at 3% of staff. Seven per cent of staff remain on furlough.

RIBA Head of Economic Research and Analysis, Adrian Malleson, said:

“It’s promising that the profession has overall maintained a positive outlook. However, with a decrease from +10 in December to +3 in January, it’s clear that the ongoing uncertainties presented by both Brexit and the third national lockdown are having an impact on confidence.

Disparities persist across regions, practice sizes and notably sectors. That only the housing sector returned positive figures, clearly indicates the limited commitment of resources to construction, from both businesses and government.

Whilst there are some promising signs, for example London reporting its first positive workload balance for 10 months, this increase is marginal (+1), and must be tempered by the fact that the commercial sector, so important to the profession in this region, remains fragile.

Sustained growth of the profession, particularly in the centres of large cities, will rely on a broad-based recovery that encompasses not only the housing sector, but also the public, commercial and community sectors. This recovery is unlikely to happen whilst we remain in lock-down but can be spurred and accelerated by timely government stimulus and investment.

6 Feb 2021 RIBA responds to launch of Government’s school rebuilding programme

5th of February 2021 – The Royal Institute of British Architects (RIBA) has today (5 February) responded to the Government’s launch of the first phase of the School Rebuilding Programme.

RIBA President Alan Jones said:

“Well-designed schools have the power to shape society – improving the attainment, behaviour, health and wellbeing of every child.

As the government’s ten-year rebuilding programme gets underway, it is crucial to focus on the delivery of good quality design, sustainability and safety. To ensure the best outcomes for students, teachers and the taxpayer, the government must commit to monitoring the performance of the new buildings once they are in use through Post Occupancy Evaluation – and use these findings to ensure each project is better than the last.

Furthermore, vital safety measures including the installation of sprinklers must also be prioritised in the design of new and maintenance of existing school buildings. Alongside the CIOB, RICS and NFCC, the RIBA is continuing to call for this to be mandated.

This is a critical opportunity to have a transformative impact on the lives of future generations – the government must get it right.”

Background:

In May 2016 the RIBA published the Better Spaces for Learning report – outlining how good design can help ensure that capital funding for schools stretches as far as possible, and supports good outcomes for both teachers and pupils.

In May 2019, the RIBA responded to the Department for Education’s review of Building Bulletin 100 – design for fire safety in schools. The Department for Education asked experts to help review the Building Bulletin 100, which is a design guide for fire safety in schools. Our response highlighted the importance of the inclusion of prescriptive baseline requirements on life safety measures, for example, maximum travel distances, ventilation, protected lobbies and refuges. Read all RIBA responses to government consultations on fire safety.

In October 2020, the RIBA issued a joint statement with CIOB, NFCC and RICS, calling on the government to require the installation of sprinklers in schools, including the retrofitting of sprinklers in existing school buildings when relevant refurbishment takes place.

19 Jan 2021 RIBA publishes findings of Architects Act amendments survey

Monday 25 January 2021 – 8 out of 10 think mandatory competence requirements are important – RIBA publishes findings of Architects Act amendments survey.

The Royal Institute of British Architects (RIBA) has today (Monday 25 January) published the findings of its survey of the architects’ profession on proposed changes to the Architects Act.

The 502 responses have informed the RIBA’s official submission to the Ministry of Housing, Communities & Local Government (MHCLG) consultation on proposed changes to the Architects Act, which has also been published today.

From ensuring building safety to tackling the climate emergency, the areas prioritised by respondents reflect the challenges facing our industry and society, and the role architects must have in addressing them.

Findings of the RIBA survey reveal:

85% of respondents acknowledge the importance of mandatory competence requirements in promoting standards and confidence within the profession;

75% believe that an architect’s competency should be monitored at regular intervals throughout their career;

70% think fire safety is the most important mandatory competence topic;

68% want to prioritise health, safety and wellbeing; 67% legal, regulatory and statutory compliance; and 50% sustainable architecture as mandatory competence topics;

More than half of respondents (59%) want either planning or building control or both to be regulated functions.

In response to the survey findings, RIBA President, Alan Jones, said:

“This consultation is a defining moment – a real opportunity to ensure all current and future architects in the UK have the education, knowledge, skills and behaviours to make a positive impact on the built environment.

The fact that the majority of the profession wish to retain the regulation of title and expand into regulation of function, demonstrates the vital and holistic role that architects know they must have to effectively deliver their expertise.

We will soon be launching our mandatory Health and Life Safety requirements for RIBA members and will work with the MHCLG and ARB to coordinate practical competency measures for the whole profession to adopt.

We also continue to call for urgent reforms of building safety regulations and procurement systems, and for an appropriately funded education system for future architects. These will help to ensure that the profession can deliver buildings that meet the quality, safety, and sustainability expectations of society.

In light of post-Brexit agreements on professional qualifications, we will support the allocation of new ARB powers to negotiate international agreements that will assist UK architects in designing, delivering, and globally upholding the highest professional standards.”

Read the executive summary of the survey findings

Read the RIBA’s response to the consultation on proposed amendments to the Architects Act

19 Jan 2021 Winners of 2020 RIBA President’s Medal for Research and Research Awards

The Royal Institute of British Architects (RIBA) has announced the recipient of the RIBA President’s Medal for Research and the winners of the President’s Awards for Research, which celebrate the best research in the fields of architecture and the built environment.

The winner of the 2020 RIBA President’s Medal for Research is Richard Beckett from the Bartlett School of Architecture, University College London, for ‘Probiotic Design.’ Through exploring the integral role of bacteria in human health, Richard proposes a design approach that reintroduces beneficial bacteria to create healthy buildings.

2020 RIBA President’s Awards for Research

18 Jan 2021 RIBA comments on proposed ‘Right to Regenerate’ policy

Monday 18th January 2020 – The Royal Institute of British Architects (RIBA) has commented on government’s proposed ‘Right to Regenerate’ policy, announced today.

RIBA President, Alan Jones, said: “While giving a ‘new lease of life’ to unloved buildings might seem like an easy win that could speed up the development of new housing or community spaces, the process of procuring these empty properties – and criteria for acquiring – must be carefully considered. This policy has the potential to help regenerate local areas, but this must be done with the highest regard to quality, safety and sustainability – it’s essential the government moves forward in the right way.”

14 Jan 2021 RIBA Future Trends – 2020 ended with fragile growth in confidence

Thursday 14th January 2021 – In the latest set of results (December 2020), the RIBA Future Workload Index returned the highest balance score (+10) since the onset of the Covid-19 pandemic. Whilst 20% of practices expected a decreasing workload in the coming three months, 29% expected workloads to increase. Just over half expected workloads to hold steady.

Confidence was beginning to return beyond the Private Housing Sector (+14, up two points from November). Both the Commercial and Public Sectors returned to positive territory for the first time since February 2020 – the Commercial Sector at +1, up from -19 in November and the Public Sector at +2, up from -7. The Community Sector recorded an improvement although remained negative, returning a balance figure of -8 this month, up from -13 in November.

Confidence among large and medium and sized practices also continues to strengthen. Smaller practices have returned to positive territory after a dip in November.

Reports of personal underemployment are lower than they were a year ago. Workloads are reported to have rallied too; during the first lockdown they stood at 67% compared to twelve months ago; December results (taken prior to the third lockdown) were 95%.

London based practices remain negative about future workload with a -6 balance score in December, up slightly from -7 last month.

All other regions are positive about future workload: the Midlands & East Anglia returned to positive territory with +7 in December; the South of England at +8; Wales & the West at +22, up from +15 in November and the North of England was the most positive in December at +29 – the most positive outlook for the region since 2019.

Concerns about future practice viability remain, though have lessened. Overall, 3% of practice expect falling profits to threaten practice viability. 46% expect profits to fall over the next twelve months, 34% expect profits to stay the same, and 9% expect them to grow (8% don’t know).

In terms of staffing:

• With a slight increase on the previous month, the RIBA Future Trends Staffing Index returned a figure of +2 in December. • 84% of practices overall expect permanent staffing levels to remain consistent (up from 81% in November). • 7% expect to see a decrease in the number of permanent staff over the next three months (the same figure as November). • 9% expect permanent staffing levels to increase (up from 8% in November) • The anticipated demand for temporary staff has stayed the same as in November, with the Temporary Staffing Index falling at -1 in November • London is the only region to return a negative permanent staffing index figure (-9) – down from -7 in November • In London, the balance figure for permanent staff is -7 (up from -8 in October) • The Midlands & East Anglia are anticipating a falling number of permanent staff. In contrast, other regions are positive, notably Wales & the West (+9) and the North of England (+8). • Personal underemployment is back down to 20%. That’s lower than both last month’s figure and that of December 2019. At both times the figure was then 22%. • Staffing levels are currently 96% of their level a year ago. Overall, redundancies stand at 2% of staff. 6% of staff now remain on furlough.

RIBA Head of Economic Research and Analysis, Adrian Malleson, said:

“The growing optimism seen in our December results is heartening, with workloads being just 4% lower than they were a year ago and an increase in confidence in the commercial and public sector areas. However, additional commentary stresses the twin uncertainties of Brexit and the Covid-19 pandemic. Understandably, these make 2021 a highly uncertain year and the construction market may get worse before it gets better

The disparity in confidence between regions continues. In December London results continued to highlight a concerning set of indices: future work predictions, future staffing levels, assessment of future practice viability and personal underemployment, which are all lower than elsewhere.

Some practices report projects being held up by delays in the processing of planning applications but there are also reports of Public Sector workload beginning to increase.

It is a mixed and changing picture but with an overall growth in confidence. Whilst this confidence is likely to falter in the current lockdown, there is hope that it will return, once restrictions are eased.

RIBA comments on new UK-EU relationship

Monday 4th of January 2021 – The Royal Institute of British Architects (RIBA) has today commented on the new relationship between the UK and EU.

RIBA CEO, Alan Vallance, said:

“Since our initial response to the post-Brexit trade deal struck on 24 December, the RIBA has taken time to consider the terms negotiated and the implications for our profession.

Since the referendum, the RIBA has strongly called for the mutual recognition of professional qualifications, and it’s therefore disappointing to see this has not been agreed. Going forward, the ARB has an opportunity to negotiate a new recognition route with the EU, and we will be working closely with ARB colleagues and members to help shape such an agreement.

In terms of trading goods, while tariff-free importing and exporting should benefit UK construction long-term, we know that certain processes including the certification and declaration of products have – or will very soon – change, and all businesses will need to adjust to new measures.

As we all familiarise ourselves with this new UK-EU relationship, the RIBA is on hand to support members and practices adapt accordingly.”

Visit www.architecture.com/Brexit.

RIBA News 2020

RIBA News & Events 2020 – recent updates below:

24 Dec 2020

RIBA reacts to news of post-Brexit trade deal

Thursday 24 December 2020 – The Royal Institute of British Architects (RIBA) has today responded to the post-Brexit trade deal struck between the UK Government and EU Commission. RIBA CEO, Alan Vallance, said:

“Today’s news of a post-Brexit trade deal is no doubt a relief for many. But while this deal provides us with some certainty around the future relationship between the UK and EU, hesitation and vagueness around trade in services remains a serious concern for our profession. Architects in both the UK and EU were clear about the need for a continued agreement on recognition of professional qualifications, and it is deeply worrying that this does not seem to be part of the deal as it stands.

It’s also disappointing to see that UK students are no longer eligible for the Erasmus scheme, given the clear benefits for young people. We therefore look forward to understanding more about the new Turing scheme referenced by the Prime Minister.

It’s our hope however that this deal will keep the costs of importing construction materials down and – current border issues aside – at least provide some confidence over trading in goods.

As ever, we will continue to support our members with guidance and lobby the government to invest in the skills and talent that fuels the success of UK architecture worldwide.” Visit https://ift.tt/38d1nWz.

17 Dec 2020

RIBA Future Trends – COVID-19 restrictions impact practice confidence and workload

Thursday 17 December 2020 – In November 2020, the RIBA Future Workload Index returned a balance figure of 0, meaning as many practices expect workload to increase as those who expect it to decrease. It’s the lowest figure since June and a fall from last months’ +9.

Confidence about future work strengthened among large and medium-sized practices (to +25), whilst smaller practices have returned negative predictions for the first time since June at -5.

2 Dec 2020

RIBA announces winners of 2020 President’s Medals

RIBA President’s Medals Student Awards 2020

RIBA News 2019

RIBA News & Events 2019

RIBA Summer Installation 2019

RIBA London Events information from RIBA

Location: 66 Portland Place, London, UK

RIBA Events Archive

RIBA Events, Awards & News Archive Links

RIBA Annie Spink Award 2020

RIBA News in London

RIBA London Events – Archive

RIBA HQ at 66 Portland Place

RIBA Gold Medal for Architecture

Chartered Institute of Building

RIBA Awards

RIBA Stirling Prize

RIBA Honorary Fellowships

London Architecture Events

AA School Events

Bartlett School of Architecture Event

Comments / photos for the RIBA News & Events for 2021 page welcome

Website: London

The post RIBA News & Events 2021, London appeared first on e-architect.

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