14m job loss debt fears

Alliance & Leicester claims that over 14 million adults – over half of all workers – would struggle with debt management without a job, as a fifth say they have no insurance or savings to protect them.

Lindsey Henson, manager for protection at Alliance & Leicester, said: “It’s easy when you’re busy with your working life to take the security of a monthly income for granted.

“However, if you become ill, suffer an accident or are made redundant then you may be unable to earn an income. It is vitally important to consider what measures you can put in place to ensure you can continue to meet your financial commitments and maintain a reasonable standard of living.”

She urged all workers to seek financial and debt advice now to plan for the future, saying it should be a “new year resolution” for all workers.