Mirrormoney says
The payment protection scandal has left a lot of people wary about taking out financial protection products.
The problem is protection insurance, which is a useful product, was hijacked by greedy banks which charged extortionate prices and mis-sold it to people who wouldn’t be able to make a claim.
Ensuring your finances are protected is essential to prevent you from ending up struggling to make ends meet – or leave loved ones unable to manage. If you are employed, should the worst happen or you suddenly become too ill to work.
Then speak to a financial adviser to see if you need to top up that cover to ensure the whole family is protected.
Try to build up even a small financial safety net. Putting just a fiver a month away will get you into the saving habit.
Try putting £1 a week away into one of those sealed piggy banks that you only open in an emergency.
But keep it tucked away out of sight and temptation. find out what your firm offers. Many employers provide death in service benefits and critical illness cover that will pay out