Demand has been increasing dramatically for these products with Helpucover experiencing a sales increase of 75% in the second half of 2008 compared to the first half of the year.
Helpucover.co.uk is the consumer offering from Pinnacle Insurance.
The insurer also expects similar figures for the rest of 2009, illustrating the growing demand for protection insurance among UK workers.
This rapidly growing demand for protection products is being driven in part by the onset of recession and the continued uncertainty in the job markets.
The insurer has also seen a growing trend for higher salary protection as the UK‟s middle income families seek the assurance of monetary back-up should the worst happen, with the majority of policies being taken out by those between 25 and 40 years of age.
Barbara Russell, head of marketing for Helpucover.co.uk, says:“The increase in demand for protection insurance demonstrates the growing insecurity amongst the UK population about their jobs. Consumers are responding to the current economic conditions by choosing to protect their income or mortgage payments with our independent products.
“Helpucover.co.uk provides good value protection products. The cover provided by the protection insurance is clearly detailed in the policy document, in addition to wider benefits such as our back to work scheme.”