According to new research by Sesame, over half of UK consumers do not have enough income protection. The research details how one-quarter of homeowners would fail to meet mortgage repayments after only two months of income loss.

Head of Mortgages and General Insurance at Sesame, John Cupis voiced his concerns at the shortfall: “When talk turns to the possibility of an economic downturn, as it increasingly has of late, it makes it all the more alarming to see such a high percentage of homeowners not making any provision for a possible change in circumstances, such as loss of income due to redundancy or illness.”

All individuals who have dependants need income protection. A provider is responsible for ensuring the welfare of their family should the worst happen. If income protection is not in place in the event of redundancy, death or injury of the main provider mortgage repayments may become unaffordable. Subsequently the family home may be repossessed.

To get further details and to compare life insurance policies, visit protected.co.uk and read life insurance articles.

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