| Many Americans are concerned about their | | | | because of company downsizing. The benefits |
| employment these days. Recent job loss data has | | | | usually range from an extra $1,000 to $2,000 a |
| been alarming, and many more workers are | | | | month, and are paid in cash to the plan member. |
| facing potential layoffs in the future. We all know | | | | Plans also come with other consumer benefits, so |
| almost everybody faces a loss of income at | | | | even if a member keeps their job, they can use |
| some point in their working lives, and we also | | | | their membership to help protect their financial |
| know that we should prepare for unemployment. | | | | lives. Examples of benefits are indentity theft |
| A little bit of preparation can turn a job loss into | | | | protection, legal advice, and credit services. Plans |
| an opportunity instead of a crisis. | | | | like this can provide security for members in |
| Experts tells us that we should have 3 - 6 | | | | uncertain economic times. |
| months of income in our emergency funds. Most | | | | Other credit protection plans exist, but these are |
| of us intend to do this, but over time, that | | | | usually sold by a lender. These plans will pay the |
| emergency fund gets used for important things | | | | lender if the consumer is unable to pay, but do |
| like medical bills or car repairs, and we find that | | | | not pay cash to the actual consumer. In other |
| we do not have enough money to cover our | | | | words, these plans are designed to protect the |
| expenses for more than a few weeks. We do | | | | lender, and not the consumer who is paying for |
| know that we may be able to qualify for state | | | | them! In my opinion, a plan that pays cash is |
| unemployment benefits, but that those benefits | | | | much better for most consumers. The consumer |
| are not very high. In fact, a few hundred dollars a | | | | will know how to use the cash to protect their |
| week, at the most, will cover groceries, but | | | | families in the best way. And traditional credit |
| probably will not pay our rent or mortgage. | | | | plans do not usually come with other consumer |
| However, there is an easier way for many | | | | benefits like unemployment protection plans do. |
| workers to protect themselves for a potential job | | | | If you are concerned about your income, credit, |
| loss. Unemployment protection plans qualify people | | | | and financial life, look into supplemental |
| like state benefits do, and provide cash when the | | | | unemployment protection, and see if it is right for |
| plan member suffers an involuntary job loss | | | | you! |