If you think that because you have been working at your company for years, you have job tenure and therefore job security then here is news for you: you are dead wrong. In this day and age, no one can confidently say that he or she will not be axed ever from their work. After all, you are not psychic. You like the rest of the people can only wonder what the future may hold for you.
But even though you don't know what can happen in the future, it doesn't mean there is nothing you can do to be ready for the unknown. The girl scouts and the boy scouts have got it right. Always ready is a great motto to practice.
What happens if you do become unemployed because you have been made redundant at work? What happens if you get in an accident that leaves you with serious injuries and you can't work? What happens if you become seriously ill that you can't earn a living for quite awhile?
If you are currently paying for a mortgage loan or if you are currently paying for some other loans or bills, getting your own unemployment insurance may be essential. With the current uncertainties being experienced by different economies around the world, it is difficult to go on with your life if you do not have a form of financial help to assist you. Without it, you might be behind your regular repayments.
But there is a way you can avoid being in a situation where you have to struggle to make ends meet. This is the very purpose of having unemployment insurance policy. It will offer you a way to secure your income in case you lose your work and offer you financial support to help pay off your financial responsibilities like your mortgage bill, your electric bill, your credit card bills and even your grocery bills.
Note that unemployment insurance though is not a forever thing. It has a limit or what is better known as a cap off period. Normally insurance providers continue their pay outs for a year and after that, it stops. But this is all dependent on the insurance company as there are insurance providers who have a longer pay out period - 24 months to be exact and there are insurance providers that have a short pay out period - 6 months to be precise.
Unemployment insurance policy however has a time limit period or what is better called as a cap off period. This is the set period of time that your insurance company will continue its pay outs. This is normally twelve months although there are insurance providers that has a shorter cap off period of six months and there are providers who extend their cap off period to as long as 24 months.
But even though you don't know what can happen in the future, it doesn't mean there is nothing you can do to be ready for the unknown. The girl scouts and the boy scouts have got it right. Always ready is a great motto to practice.
What happens if you do become unemployed because you have been made redundant at work? What happens if you get in an accident that leaves you with serious injuries and you can't work? What happens if you become seriously ill that you can't earn a living for quite awhile?
If you are currently paying for a mortgage loan or if you are currently paying for some other loans or bills, getting your own unemployment insurance may be essential. With the current uncertainties being experienced by different economies around the world, it is difficult to go on with your life if you do not have a form of financial help to assist you. Without it, you might be behind your regular repayments.
But there is a way you can avoid being in a situation where you have to struggle to make ends meet. This is the very purpose of having unemployment insurance policy. It will offer you a way to secure your income in case you lose your work and offer you financial support to help pay off your financial responsibilities like your mortgage bill, your electric bill, your credit card bills and even your grocery bills.
Note that unemployment insurance though is not a forever thing. It has a limit or what is better known as a cap off period. Normally insurance providers continue their pay outs for a year and after that, it stops. But this is all dependent on the insurance company as there are insurance providers who have a longer pay out period - 24 months to be exact and there are insurance providers that have a short pay out period - 6 months to be precise.
Unemployment insurance policy however has a time limit period or what is better called as a cap off period. This is the set period of time that your insurance company will continue its pay outs. This is normally twelve months although there are insurance providers that has a shorter cap off period of six months and there are providers who extend their cap off period to as long as 24 months.
About the Author:
Do you want to find out more about Unemployment Cover in UK?, then visit Geraldine Baker's site at http://www.unemploymentcover.org.uk for your needs!
Post a Comment