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Consumers should consider income protection cover in current environment

Having a safety net such as life insurance or income protection cover in place is one of the important financial arrangements consumers should consider in the current economic climate, it has been stated.

According to the Independent, it is in difficult economic environments such as the current one that "the importance of having savings or an insurance policy such as income protection insurance becomes clear".

In a personal finance article aimed at those thinking of saving for their future, the newspaper stated that considering putting such protection in place is one of the things people need to take into account.

Income protection cover is especially vital in the current precarious job situation, which is predicted to deteriorate in coming months, pushing the number of people out of work to nearly four million.

This was highlighted last week by think tank Centre for Economics and Business Research, which stated that the government is "optimistic" in its forecasts of how the economy will perform.

Such optimism could lead to the underestimation of the unemployment rate, which currently stands at 2.4 million.

Do you want advice on Income protection insurance?

After looking through the income protection insurance information if you would like Income protection Advice, complete our life insurance enquiry form and we will contact you to discuses your income protection insurance and protection needs.

You may also be interested in:

• Accident Sickness Unemployment Explained
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• Critical Illness Explained
• Life Insurance Advice
• Mortgage Types Explained
• Mortgage Top Ten

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