Unemployment figures released by the Office of National Statistics showed that the number of people out of work is at its highest in 17 years.
Overall there are 2.69m people out of work, with 432,000 of those over the age of 50.
This also comes at a time when the government is increasing the state-pension age, making the situation more difficult for those affected.
The ONS also stated that more than 1.6m people were claiming jobseekers allowance.
The rise in those claiming benefits suggested that more people were unable to use personal savings in the long term and were turning to the state for help.
James Watson, sales director at Paymentshield, said: “These figures show the continuing need for consumers to protect their income should the worst happen.
“Income insurance, for example, is a standalone product and is not tied to a loan or credit agreement like traditional PPI but consumers are still wary of protection after the mis-selling scandal.
“Intermediaries are in the best position to highlight the importance of products like income insurance and can provide tailored advice taking into account financial situation, employer’s sick pay and amount of savings.”
