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One month till cash runs out - poll

Monday July 19th 2010

The average worker in Britain could last a month before running out of money if they found they were unable to work, according to a survey by ICM.

Around one in five of those questioned said they had nothing to protect them financially, and the average worker would only have enough cash to live on for four weeks if they lost their job or could not work because they had fallen ill.

The survey suggested around half of all workers would need to rely on a partner or a family member for help, highlighting the potential usefulness of income protection insurance.

An average one in 10 of those questioned said they had insurance in the event of not being able to work, and as much as 44% said they had savings they could use.

Workers living in Wales are apparently the least financially secure. The survey showed around a third of them have no protection at all from losing their job.

The second-least prepared workers geographically are in the north east of England, ICM said, with around one in four saying they have no salary protection.

But workers in Scotland seem to the most conscious of having a safety net. The poll suggested just 16% have taken no steps to protect their income if they lost their job or became ill. The rate in the South East of England is 17%.

:: ICM polled 1,095 people in May.

Copyright © Press Association 2010

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