John Pollock, Group Board Director for Legal & General's Risk businesses, commenting in response to today's ONS announcement on unemployment figures said:.
15 February 2012
"The unemployment rate rose again for the last quarter of 2011. There were 2.67 million people unemployed, up 48,000 on the quarter. The unemployment rate has not been higher for over 17 years. Budgets are being squeezed at every level as people try to manage, particularly with the high cost of food, fuel and utilities. The recent period of severe freezing temperatures will not have helped this situation and put additional burden on many.
Research carried out by Legal & General General Insurance showed that over 93% of UK adults working full or part time in a recent YouGov survey, felt that utilities such as gas and electricity were essential to daily living in the event they were to lose their job or income was reduced. But two thirds (67%) haven't got any insurance such as mortgage or payment protection insurance to help them to continue to pay these bills should they lose their job. In tough times it is more important than ever that people have some sort of financial safety net in place to help them should they become sick or lose their job. Insurance can play a crucial role in helping people keep their homes and maintain their standard of living if the worst should happen."
Notes to editors
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 4146 adults, of which 2587 were working full or part time. Fieldwork was undertaken between 27th January to 1st February 2012. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+).
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