The sweeping cuts in public sector jobs announced in the Governments Comprehensive Spending Review have left many people worried about their future. In particular, many are concerned about how they will afford their bills and other essential expenditure if their job is one of the 490,000 expected to be axed in the next four years. It is when announcements like this occur that people wish they had taken out payment protection insurance, thinking that now it is too late to do so. In fact, as long as the individual has not been informed by their employer that their job is at risk, they can still take out a payment protection policy, advises Ian Gosden, managing director of local high street broker Higos Insurance Services. It is not too late for people to protect their livelihoods, Ian says. Higos has two prestigious Defaqto 5 Star products which can offer peace of mind should someone lose their job or be unable to work through sickness or following an accident. Many people will know public sector workers facing an uncertain future, whose livelihoods could be at risk, and they need to be made aware that if they act quickly they can protect themselves. Cover can be arranged for many everyday payments that could cause people anxiety in a redundancy situation. These include mortgage, rent and other regular payments such as council tax, utilities bills, finance agreements and even gym memberships and satellite/cable TV bills. The cover on offer allows the choice between accident, sickness and unemployment, accident and sickness or unemployment only, with 12 or 18 month benefit options, Ian explains. He adds: With public sector jobs set to be slashed, and fears of a double-dip recession looming, the confidence and peace of mind payment protection insurance can give people in knowing they can pay their essential household bills cannot be undervalued.
It's Still Not Too Late To Protect Your Income