Lack Of Planning For Financial Emergencies
Consumers are being advised to protect their income against job loss or unforeseen illness as the third of Britons without protection are just 30 days from financial crisis, according to one insurer.
Over a third of Britons have little or no savings to tide them over during a financial emergency, according to new research.
A survey by Prudential found that one in ten people worry about losing their job and a fifth were signed off last year due to long-term illness.
"No-one likes to think that they could get a severe illness or lose their job, but what if the 'unthinkable' happened?" suggested Angus Maciver from Prudential UK.
"These times would be difficult enough without having to worry about covering the mortgage and potentially losing your home. Yet without any savings or protection, many people put themselves in this vulnerable position."
Some companies may cover salary for a period of sickness but this will be limited and other firms may not offer any cover.
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