Online forums and blogs are buzzing with people asking how they can protect their standards of living in the face of widespread government cost cutting.
It is not just one sector of society that is concerned.
Although public sector workers are already seeing their standards of living slip and their co-workers are being made redundant, private sector employees – whose jobs depend on supplying the public sector – are also feeling the pinch.
The Chartered Institute of Personnel and Development predicts that private sector employment alone will fall by 80,000 during the course of this year.
The Bank of England has warned that things will get a lot tougher before they get better.
This widespread and diverse demographic of threatened workers has prompted insurers to re-examine the kind of cover they offer.
This is especially true with creditor insurance. Product providers have recognised that one-size-fits-all products are no longer what customers want or need.
New, tailored standalone protection products offer increased flexibility to those seeking to protect their standards of living should they fall victim to accident, sickness or unemployment.