You are here: Home - Insurance - News -

Job fear for 1 in 10

Written by:

One in every 10 Brits (2.9m) fear their jobs are in imminent danger and are concerned for their future. Yet many of them – over a third of the UK population – say they have little or no savings to tide them through should they lose their job or become unable to work.

Nearly a fifth of Britain’s workforce was signed off last year with a long-term illness. While some companies may continue to pay a salary for a limited period, others may not. Plus the country’s unemployment levels are at a four year high.
Yet despite this, most people have not taken any action to protect their finances, with the result that millions are living from one payday to the next with no financial back-up.

Angus Maciver, business director of insurance, Prudential, said: “No-one likes to think that they could get a severe illness or lose their job, but what if the ‘unthinkable’ happened? 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.”


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
No break for mum

Over four million mums won’t be having much of a summer holiday this year, according to research from Post Office...