Unemployment and illness should be covered, says ABI

by Richard Kilner

Story link: Unemployment and illness should be covered, says ABI

Research conducted by the Association of British Insurers has revealed a shockingly large percentage of people would suffer a financial crisis should they become critically ill, or unemployed.

The results of the study show that nearly 25% of Britons have no idea what they would do should they suddenly lose their job.

This is particularly worrying as more than a fifth of Britons will experience unemployment at some time during their lives.

The ABI’s Nick Starling believes that the findings should give people cause to take out insurance that covers serious illness and unemployment.

Starling also said that people should bear in mind how they would cope with mortgage repayments and other loans, should they suddenly lose their regular source of income.