Payment Protection Insurance and Short Term Income Protection Insurance can provide a monthly income to help cover your regular outgoings if you can’t work due to an accident, illness or injury.
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Banks will send savers details of possible investments and an ad campaign will raise awareness, the Treasury says.
The company's future remains uncertain as it posts losses of £1.65bn for the year to March.
Energy and housing costs were the major drivers of inflation, but consumers are starting to feel the impact of tariffs on basic goods.
Government will subsidise prices cuts to encourage a shift away from petrol and diesel.
The world's second largest economy grew by 5.2% in the three months to the end of June, official figures show.