Employment Insurance

Income Protection Banner

Employment Insurance

When we were children, we didn’t have to worry about paying the mortgage or keeping the electricity on. These were problems for the responsible adults in the family. Time has passed, and now we are the responsible adults in charge of keeping life stable. For some of us, this seems easy. For others, it is a constant challenge. But no matter how you manage to provide for your family, you know that nothing in life is guaranteed.

That’s why employment insurance can be of enormous help to people from all walks of life. Whether you are the president of a small business or a clerk at a take away stand, the pressure to maintain your standard of living in uncertain economic times can be very difficult to deal with. Having unemployment insurance allows you to mitigate the stresses of reality.

The Features of Employment Insurance

For a low monthly premium, you will receive a benefit of up to 65 percent of your gross monthly income in the event that you are made redundant. This benefit can be allocated to pay a mortgage, cover household bills or keep you current on longstanding debt. It can help pay for a child’s education or allow you to retrain yourself for entry into a more competitive job market.

This benefit package allows you to get back on your feet without losing any ground. As long as the premiums are paid for with taxable income, the benefits themselves are tax free. Instead of waiting in the queue at the unemployment office, you can start receiving benefits at your home after your deferral period ends.

Easy to Sign Up

Most insurance providers ask for some basic information from you when you initially submit your application, including your age and annual income. The sign up process is surprisingly swift and can often be completed either over the phone or through an authorised web portal. If you’re considering signing up for employment insurance, you should also be prepared to submit a list of your employment references and a brief outline of your medical history.

Being a responsible adult can be trying. Luckily, for many people it’s all about adopting a positive attitude and preparing for the future. You can’t control what’s going to happen to you, but you can control how you choose to react to it. Why not protect your income and avoid unnecessary stress?