It has been said that the average length of unemployment is about sixteen and a half weeks. That is plenty of time to drain an ample savings account. But what if your savings account isn't where it should be? Then those four and a half months of unemployment could be the cause of tremendous financial strain and damage. Home foreclosure, auto repossession, and late marks on your credit are all things that you can avoid with the proper planning before a job loss or unemployment.
Fortunately there is now a way to protect your family and your finances from the harmful effects of a period of unemployment. There are now unemployment protection plans in the United States, similar to the very popular plans in the UK that have been issued to over 3 million people. These are not the typical "payment protection" plans that you may have seen from your loan originators, that only make the loan payment. These new unemployment protection plans pay a cash benefit directly to the member, to use however they are needed. The unemployment benefit can be used for anything from mortgage payments to car payments, to gas or groceries. The choice is yours, as you know where your needs are.
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This unemployment benefit pays its members a cash benefit if they become involuntarily unemployed, or are unemployed because of an accidental disability. The benefits are in addition to any state unemployment benefits you may receive.
The best way to survive unemployment is to be prepared. And the best way to be prepared, is to have an unemployment protection plan in place today.
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