Protection insurance vital with rising unemployment
Wed, 24 Dec 2008
Almost a third of adults in Britain would face financial calamity within two months if they lost their jobs, says MoneyExpert.com.

According to the independent financial comparison website, nearly 30 per cent of people worry that they would not be able to meet repayment commitments on personal debts including mortgages, loans and credit cards . However, despite the rising levels of unemployment as the recession continues to threaten jobs, research by the the firm found low levels of take-up of payment protection insurance (PPI) which will cover repayments in the event of job loss.

Sean Gardner, Director of MoneyExpert.com, said: "Hoping for the best is not much of a financial strategy when the going gets tough. Being in debt is sustainable if you have an income and a means of paying off loans and credit cards. Payment protection insurance and particularly mortgage payment protection insurance can be vital if you lose your job."
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