Back Savings Wwith Income Protection Cover

income protection cover & savings - News 2009

People with dependants may want to back their savings with financial protection measures such as life insurance or income protection cover as consumers become more money-savvy.

British people have become more financially aware as a result of the economic downturn, according to new research by National Savings and Investments
 (NS&I).

Nearly two-thirds (63 per cent) of Brits are now more money-conscious and 48 per cent admit to being aware of their exact bank balances.

"To be in control of your finances it's really important to keep track of your money and to make sure that it is invested in a savings account which suits your individual needs," said NS&I senior savings strategist Dax Harkins.

While savings are important, consumers are also advised to consider shielding their earnings with income protection products such as accident, sickness and employment cover.

This kind of insurance will prevent them from having to raid their savings in case they are made redundant or are unable to work due to illness or an accident.

Do you want advice on Income protection insurance?

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