Bad practice insurance unemployment at your own risk

John F. Kennedy famously said "The time to repair the roof is when the sun shines." Point of view, of course, is that the sun would shine forever, and it is important for a good time to make preparations for a possible storm time horizon.

There is a clear connection between this event and unemployment insurance. If you are working in good jobs with steady income to cover all the bills and pay your mortgage, now is the time to make arrangements for you to continue providing your family if you lose your job .

You may be thinking "I'll look for another job! "And yes, eventually it must be the real purpose after they become idle. However, it is not always easy to find work soon, especially in the middle of worldwide recession. If you know the right contacts and sold to entrepreneurs who have a much greater chance of finding a new job, sooner or later, but what then?

If you have accumulated significant savings in the bank in recent years, it is possible to relieve the financial pressure is placed on your unemployment. Unfortunately, the percentage of population that is able to take advantage of cheap pot of savings if discharge is relatively small. According to recent statistics, less than 50% of households have enough savings to cover the cost of three months.

For those without much savings, the only source of income during the state's unemployment benefits. According to insurance companies, people spent an average of unemployment between jobs is eight months. That is a long time to live and cover the costs of the benefits that only the state average income. The current standard rate of job seekers allowance is £ 51.85 for those aged 16 years, with 24 and £ 61.45 for over 25 years. If you have a family and a mortgage office, there is no way that these benefits will come a little to cover their expenses.

Many people do not really understand the precariousness of their financial situation. If the worst happens and they face long term unemployment, it is possible that the only choice is to go into serious debt. It's easy burden in the short term, but be left with a potentially crippling Internet payment runs to thousands of pounds.

Easiest and painless way to avoid this catastrophe is the purchase of unemployment insurance plan today, "while the sun shines."

Unemployment cover (also known as redundancy insurance or income protection cover), which usually sets the policy making payments every month, and redundancy should occur, you can then apply to claims in politics. The level and timing of payment you get will depend on the type of policy you buy, and find that there are various options allow you to customize your policy to the needs and circumstances.

Unemployment insurance can cost as little as just £ 10.05 a week, which is almost the same as a gym. Complainant received an average of approximately £ 1,000 per month, and policies should provide enough to cover their debts, mortgages and other household expenses. Complainant may also benefit from free support to help them return to work again quickly, including advice on resumes, job search and interviews.

In short, unemployment cover may be essential to maintain the financial stability of his family, but hopefully not have to use it. Unless you have a large amount of money stored in savings, unemployment insurance is really the only option to cushion the blow of redundancy and support through a difficult transition period before seeking a new job.