As the employment market continues to be uncertain and unstable a number of British residents continue to worry about their financial situation. With redundancies and job losses becoming a common factor for many households a number of people are beginning to turn to income protection as a way to help secure their financial future should they been unlucky enough to become unemployed.
As many as one quarter of Brits are said to harbour anxieties and concerns over their finances with a number of even experiencing a type of “bill phobia” – the fear of opening bills upon the arrival due to the fear of the contents.
According to research by independent financial specialists, as many as fifteen million people would face financial problems and hardships in the event of them losing the job. Unfortunately, given the current situation surrounding employment, this may be a reality for a larger portion of that fifteen million than we would hope.
Employment has continued to be one of the public’s main focuses since the depression, with their area often being the prime concern. A number of changes have already been suggested to the employment industry, with a government initiative being launched to discover how the public thing certain laws could be improved.
Talk of assigning costs to workers who launch unfair dismissal claims has also been suggested as another measure to change the face of British employment.
With unemployment levels reaching new heights a number of people have become concerned over their future, leading them to invest in income protection. This is designed to help households afford regular expenses such as bills and payments if they are out of work.
With a report in the Guardian last month detailing how unemployment levels had breached 2.5million people, increasing at a rate of 7.9%, it is hardly surprising that British people are concerned about their financial security.