Should I Purchase Private Unemployment Insurance?

Should I Purchase Private Unemployment Insurance? 

If you have been considering a private insurance policy for unemployment but are not sure if you need it then ask yourself this question. How would I pay my mortgage and other living expenses if I loose my job through accident or illness? A private insurance policy could be a good idea.

If you become injured at work then there are other things that you are legally entitled to. However, suppose you have an injury outside of work that causes you to be out of the workplace for several months. Your fate is very much in the hands of your employer and their insurance and disability policy. You could face loosing a significant amount of money in lost wages if not your position all together. Even an injury, such as a broken leg can result in nearly 2 months of lost wages.

There are private insurance policies to help you through this situation. By paying a small monthly fee, you can claim when you need it. There are private unemployment insurance schemes to cover just your mortgage but they can be extended to pay for other items as well. You can also purchase policies that won’t start until your employer’s disability benefits end. It will be hard enough recovering physically from a situation such as this; a private unemployment insurance policy can at least protect your financial interests.

There is likely a private unemployment insurance policy to cover anything you desire. They can be bought to cover you in the event of serious illness or can be extended to include accident cover. You can purchase polices that will continue to pay your salary, even if you are unable to return to work.

A private unemployment insurance policy can help to give you extra piece of mind. You can worry a little less about what the future holds because you will know that you are covered. Protect your self from job loss as a result of long term illness and disability. There is no reason to put your home, savings, or family’s future at risk. A private unemployment insurance policy can make a world of difference if you’re ever faced with a long term sickness or injury.