Protecting Yourself against Economic Instability Finance Articles | November 23 Cheap Air Max Zero , 2011
This article takes a brief look at income protection insurance. It examines the viability of using insurance to protect you and your family from the impact of the current economic crisis that the UK and Europe is experiencing.
The problems in the European economy seem to be never-ending at the moment, and as the Eurozone lurches from one crisis to the next, it is hard to know where it will all end. First it was Ireland in trouble, then Greece Cheap Air Max Typha , and now it is Italy, and it is apparent that if the Euro does eventually collapse under the weight of all its accumulated debt, the effect on British workers will be extreme and severe.
Currently 40% of British exports go to the Eurozone, and the loss of these lucrative markets would hit the UK economy hard Cheap Nike Air Max TN , and send it spiralling back into recession. It would mean many export-driven businesses would have to curtail any expansion plans, and make redundancies and cost-cutting measures to keep their heads above water. All those unfortunate souls who are forced to join the ranks of the unemployed would likely find it difficult to support themselves and their families on scaled back government benefits, while faced with the daunting prospect of finding a new job in an economic downturn.
Understanding the seriousness of the situation is the first step towards being able to do something about it. We are at the edge of a financial abyss, and anyone without a large pot of savings to fall back on needs to think carefully now about creating a safety net for the worst case scenario.
One option to protect you and your family?s income when faced with an uncertain future is to take out a lifestyle protection insurance policy. This will enable you to ride out the economic storm by supporting you financially in the event of you being made redundant. For those who rely on their salary to cover a mortgage Cheap Air Max TN , there are specially designed mortgage payment protection insurance policies, and there are also policies to cover those who pay rent rather than a mortgage.
Studies show that most families in the UK have less than the equivalent of 3 months pay in their savings, which means that if the main breadwinner lost their job, they would not be able to support their lifestyle long without finding another job quickly. Unfortunately Cheap Air Max Thea , one of the worst aspects of the uncertain economic climate in Europe is that it is making employers extremely reluctant to take