July 28, 2008
Britons ignoring payment protection insurance
The Yorkshire Building Society has conducted research which has revealed that the average person in the UK only has enough money to last them around 52 says if they fall into unemployment. The survey also showed that over 30% of those polled said that they would only have enough savings to last 11 days.
Approximately, 17% of respondents said that long term illness may result in either themselves or their partner being unfit for work in the future.
A building society spokesperson said that ,unfortunately, the research has revealed that consumers are trying to deal with the UK’s bleak economic situation, without having sufficient insurance cover. To make matters worse, economic experts are predicting that the UK will continue its apparent slide into a recession.
Consumers are advised to think seriously about obtaining employment payment protection insurance as this would help them to avoid the accumulation of serious financial debt.