Because I live in a village closely associated with witchcraft, like it or not, this is the time of year that spookiness can get under your skin. On Halloween night the Police established road blocks preventing anyone reaching our hilltop church. Yes, this is true. Many individuals have been know to get more than a little out of hand when looking for the witch purported to appear above the church tower at midnight. Legend has it, on that night, running around the church 7 times anticlockwise will make the devil appear!

How can people still hold with such beliefs in this modern world? After all, there is so much more to be worried about than flying witches. To be scared, I mean almost hair standing up on the back of your neck scared, l would suggest considering the implications of these two UK statistics:

• Less than 50% of people have enough savings to cover their outgoings for 3 months outgoings (Source: creditaction.org.uk/debt-statistics/2009)
• 41% of 25-34 year olds have less than £250 in savings. (Source: Financial Services Forum Oct 2010)

With news of half a million jobs about to be lost in the Public Sector and potentially the same number from the Private Sector, the consequences for people with little money to fall back on are frightening. Forget witches at midnight and things that go bump in the night. This is enough to scare the bejesus out of anyone who thinks their job might be in the firing line.

These statistics are far more meaningful when cross checked with ‘real life’. YouGov undertook a recent poll for the Financial Services Forum and asked a nationally representative sample of people, in the event they were unemployed, which sources would they most likely to use to meet their debt payments. In response, 40% said from savings and another 20% said they did not know what they would do. It would seem at least half of those depending on their savings would soon be struggling if they were unemployed for more than 3 months. The £65.45 per week Job Seekers Allowance would not go far toward paying their bills.

Being out of work for six months or more is a nightmare for anyone. However, for those who have Unemployment Insurance with a typical premium of £20 to £40 per month, at least they would be spared mounting debts and the almost inevitable credit blacklisting. These insurance policies will pay out for as long as a year if the policyholder cannot work. Even in these difficult times, this is usually long enough to secure another job. More importantly, Unemployment Insurance takes the pressure off. It allows the policyholder time to get a good job, rather than being forced to take any job out of desperation.

Most people can cope with the rigours of finding work if they known they have enough money to pay their mortgage and their other important bills. Imagine the pressure of preparing for an interview surrounded by final demands and fearing phone calls from debt collectors, or worse, the Bailiff’s knock.

This cover makes so much sense for people who are unable to save enough to build a nest egg of their own. The premiums are only the equivalent of putting five to ten pounds away each week. This is a small sacrifice in the scheme of things. Unemployment Insurance will give protection to any family from something in life that is really scary. At Halloween forget frightening pumpkin lanterns and don’t worry about witches and ghouls. It is far better to be insured to keep the ‘wolf from the door’ all year round.

Don’t let the spectre of unemployment hang over working families after Halloween or at any other time of the year. There is no need to be scared, because even children know the ghastly masks and faux fangs that night would not hurt them. With just a little financial planning, plus Unemployment Insurance to fall back on, their parents can feel equally confident when facing up to job losses that are truly scary.

Dennis Haggerty FCII M IDM Marketing Manager iprotectinsurance.co.uk specialises in the supply of low cost on line Unemployment Insurance, Lifestyle Protection, Income Protection and Mortgage Payment Protection Insurance.

The MPPI Buyers Guide produced by Money Saving Expert gives full details. Please visit the iprotect website for links to all of the Money Saving information required to buy this best value Unemployment Insurance offered by iprotect.

The key to the success of i:protectinsurance has been the focus upon supplying a product range that is exceptional value for money because it is available exclusively on-line. This eliminates the usual costs associated with selling insurance: telesales teams, direct mail, middlemen and commission.