Recession is now almost inevitable, some say that we are already in one, but we don’t yet know it. This puts jobs at risk as more and more employers act quickly to cut down the payroll, so that the company can be saved from failure.

No more, is this situation more acute than with SME’s (small to medium sized companies), where most are employed.

In Britain, we seem to have short memories, remember the last recession; who bore the brunt of the redundancies; older workers. Now when I say older, I am talking about those of us the wrong side of 40; and yes they class that as older!  Sorry.

The statisticians tell us that it can take up to twice as long for an applicant over 41 with the same CV as his counterpart of 30, to obtain gainful employment. It is highly likely that the 41 year old would still have a large mortgage, therefore unless a large pot of cash is available; the only sensible course of action is to go shopping for an MPPI or Mortgage Payment Protection Policy.

Mortgage Protection Insurance Policies, will meet the monthly cost of your mortgage (some will give you an additional 25% towards other costs), for up to 12 months, should you be unable to work through Accident, Sickness or Redundancy.

These policies are a life line to many.

Strangely enough, sales of these policies have doubled in recent months; we wonder why??

Make sure that you are not last in the queue for a MPPI policy; who knows, they may not be around for ever.