Accident sickness redundancy insurance – don’t be a statistic!

Everyone knows that these are more difficult economic times. One of the starkest and most depressing indicators of this is the number of people seeking Declarations of Bankruptcy. According to government figures, that number rose by a frightening 12% in the first three months of 2008 alone, with analysts forecasting still further increases in the year ahead. Accident sickness redundancy insurance, however, could stop you from becoming one of those statistics.

When money is already tight, the loss of income through accident, sickness or redundancy can prove the final straw. Almost everyone has borrowed some money which needs to be repaid on a regular basis, the normal household bills continue to roll in, and savings have probably already been depleted to meet rising living costs. As a result, when incapacity or unemployment strikes, there’s almost nothing for it but the piling up of debt. If it proves impossible to manage them, then bankruptcy can loom as creditors try to call in their debts.

Accident sickness redundancy insurance is an affordable way of buying protection against this risk since it ensures an alternative regular monthly income if you are unable to work through no fault of your own. The premiums are determined by just how much monthly income you want covered.

Says Simon Burgess, of one of the country’s leading independent providers of accident sickness redundancy insurance, British Insurance: “Sadly, we’re seeing a steady rise in the number of people who are having to declare themselves bankrupt. If only more of them had taken the precaution of buying the right kind of cover before misfortune struck, it might have been possible to save significant numbers of them from such dire financial straits”.