Fears over lack of income protection cover
15th July 2010
They might have life insurance to fall back on in the event of terminal illness, but many homeowners and consumers without income protection cover or real life cover are seemingly blasé about personal debt.
A poll by market research agency Opinium found that 60% of people would not worry about outstanding loans - even if they lost their jobs.
More than half (57%) would not be worried if they couldn't pay their mortgage because of redundancy, even though such a failure could end in repossession - especially if they property owner lacked income protection cover.
Debt collectors at the front door would frighten just a third of those polled, while 66% said they wouldn't care if they couldn't pay gas or electricity bills.
Most worryingly, just 17% said they would be worried if their friends and family fell out with them over money problems.
Official statistics show the UK's total personal debt level currently stands at around £11.5 trillion.
Copyright © Press Association 2010
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