A study has shown that most people in the UK are not financially prepared if they were faced with unforeseen situations. The National Savings and Investments reported that to deal with unexpected circumstances such as sickness, accidents or unemployment, an average person would need about £5,370. Their study further showed that 32% of their respondents have no savings near the quoted amount. Therefore, those who have some savings are encouraged to purchase income protection, as redundancies are expected to rise. The forecast of another global economic crisis is enough to make us worried about the future. At present, we have seen that the availability of jobs is getting smaller. Even employed people are not assured of the permanency of their work. Additionally, living expenses in the UK have gone up to such an extent that it would be difficult to survive if you become unemployed or sick. If this happens, you will not be able to meet your financial obligations and if you are sick this would only lead to your slow recovery. If you were not prepared for this, you will be forced to face the consequences such as losing your home and other possessions. However, income insurance will assist you on this matter. Income insurance helps an employee to cope with his financial responsibilities if he becomes unemployed, ill or injured. Its coverage amounts up to 75% of an employee’s salary but the insured will have to provide evidence that he is ill or injured resulting to his inability to work. Income insurance usually has the following coverage: mortgage repayments, credit card bills, utility receipts, medical and rehabilitation expenses and upkeep costs for businesses. The occupation of the consumer is the basis for the insurance companies to modify policies that will appropriately suit the individual. Those who are employed in white and blue collar jobs (as well as freelance workers) can get themselves income insurance, too. Unemployment is not usually included in income insurance; however, guidelines are adaptable and can be modified to suit the needs of the customer. Insurance companies have adapted their guidelines to address the increasing number of redundancies in this economic crisis. Standard income insurance would require the owner to pay a premium of about 2% of his annual income. He also has the option to increase his premium that will include redundancy. Various factors are considered in evaluating the premium that include sex, age, pre-existing illness and addictive practices, delayed and benefit periods and other add-on features. Selecting the appropriate income insurance for you may prove to be difficult as a variety of policies are offered. They all have a different level of coverage, thus you need to carefully examine what suits you best. Missing one point can mean the loss of your coverage. You can check insurance websites and look for one that gives complete details on the insurance coverage, premiums and the policies on late payments. Get prepared for the continuing global economic crisis by getting complete income protection insurance. Make a good decision and select one that suits your income level and present financial status. For more information, please visit us at http://www.antinsurance.co.uk.