U.S. Unemployment insurance
Every working American pays into unemployment insurance. However the unemployment benefits offered by the government may not cover all of you expenses if you are out of work. Unemployment benefits are offered through a joint program run by a state unemployment insurance agency in conjunction with the federal government. Private unemployment insurance may be needed to supplement your government benefits.
A private unemployment policy may cover you when you are not eligible for state or federal benefits. Another reason to have private unemployment coverage is because it will provide you with more money to pay your bills if you are out of work. Plus when an unemployment insurance extension is no longer a possibility, you want a plan that will cover your needs.
There are two reasons why a private unemployment plan is a good idea:
In order to ensure that bills are paid in the event of a serious illness, a private unemployment plan is an excellent option. One example would be being diagnosed with cancer. Eventually you may not be able to work. In the event that you need chemotherapy, you may not be able to work and your company may not be able to pay you any longer.
You can learn about unemployment insurance benefits online. Some plans allow you to buy a plan that will cover your mortgage while you are unemployed. This type of coverage is an outstanding way to make sure you don’t lose your home. While government unemployment benefits are helpful, the amount may not be enough to pay for food, a car, and your mortgage.