Being insured essential during financial crisis

Wed, 09 Apr 2008

According to a forecast by the Confederation of British Industry (CBI), the UK’s financial services industry could see at least 10,000 job losses in the next three months and most employers believe that next six months will see the credit crisis worsen.

"This is a very serious crisis," said CBI chief economist Ian McCafferty. ‘"Some have suggested it's the worst financial crisis since the Second World War. I think one of the key characteristics is that it will go on for quite some time to come."

Accident, Sickness and Unemployment Insurance (ASU) could help homeowners affected by the credit squeeze. It is an insurance policy which pays out a fixed monthly amount to cover outgoings like mortgage repayments and household bills and basic costs such as food.

Research shows that only a minority of homeowners in Britain, around 20 per cent, have ASU or Income Protection (IP) insurance to help them through periods of illness for unemployment. ASU and IP are not the same as the payment protection policies sold by banks and firms offering personal loans . ASU is also a better choice than Mortgage Payment Protection (MPPI) which will meet mortgage repayments only.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Save money on your mortgageSave on Your Mortgage

Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.

Health cover, life insurance and PMIProtect Your Health

Find Critical illness, Life and Private Medical Insurance PMI policies.