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18th March 2009 Print
Commenting on unemployment statistics released today, Clare Francis, site editor at, said: "Breaking through the two million barrier, today's unemployment stats will no doubt heighten fears among the British working population. News of job cuts and redundancies have been a daily occurrence and looks set to continue into the year, with predictions it could reach up to 3.2 million by the middle of next year.

"Job security is of paramount importance but at a time when this is a luxury, it is important to think about your options. The best time to buy a protection policy is when you least expect to need it, however unfortunately it may be too late for many people.

"For those employed in industries at risk of redundancy, looking for any kind of protection insurance at this time may not be the best option as a claim may not be fulfilled if you thought you might already be at risk of losing your job.

"If you are in a situation where this is not the case, but would like to consider protection, I would recommend you seek advice. Unemployment cover to protect mortgage payments of £500 per month, is currently available from British Insurance for £19.50 a month.

"It is worth noting that in such uncertain times we are seeing the best value protection products being withdrawn from the market, so I'd advise putting the wheels in motion sooner rather than later. It is important to review your financial commitments to ensure you're able to cover all your monthly expenses should the worst happen."