 |
|
|
|
 |
 |
Your Money: Job Loss Insurance
Most stay at home moms are staying home by choice. But more and more Americans are finding themselves at home after a layoff or job loss.
If you are worried about losing your job, you might want to consider job loss insurance.
Never heard of it?
In tonight's "Your Money" report, Seven-On-Your-Side's Jason Pederson takes a look.
###
Not too long ago nobody had heard about pet insurance. The same is true right now about job loss insurance.
Paycheck Guardian hopes to change that.
For a monthly membership fee you can qualify for up to $15 hundred dollars a month in the event of your unanticipated and involuntary unemployment.
(John Hartline/PayCheck Guardian) “You're betting that you are going to get laid off. The insurance company is betting that you're not. Who knows?”
There are three coverage options: $50 dollars a month will net you $750 a month if you lose your job. $60 bucks a month for $1,000 in coverage. Or $70 for $15 hundred.
There are a few catches. You must be a dues paying member for four months and employed for those four months in order to collect benefits should you lose your job after that four month period is up. And those benefits will only last for four months.
(Hartline) “If you're pretty well assumed that you're going to be in the same job that you've got now for the next four or five months then that will cover the vesting time period. But if you're really worried about a time frame and time window beyond four-and-a-half or five months from now then you're probably wise to buy this.”
Hartline says if you pay $70 a month for the Gold Package for seven years and then lose your job, you will recoup your membership dues in that four month period when you collect your $1,500 a month in benefits.
If you would like to learn more about the costs, coverage and limitations of the job loss insurance offered by Paycheck Guardian,
You can call the company in North Carolina at 1-800-562-8019 or you can visit the company's website, www.paycheckguardian.com.
read more stories in Your Money
Say It On 7 - Story Comments
Not a member yet? Click Here to sign up.
Please leave your comments below:
Messages that harass, abuse or threaten other members; have obscene or otherwise objectionable content; have spam, commercial or
advertising content or inappropriate links may be removed and may result in the loss of your posting privileges. Please do not post any
private information unless you want it to be available publicly. Never assume that you are completely anonymous and cannot be identified by your posts.
More News and Videos
© 2009 KATV, LLC
The Associated Press may have contributed to this article.
All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Channel 7 News to leave comments on news stories.