Unemployment Insurance
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Could your family live on $22,000a year?
The average unemployed person has been out of work for 40 weeks. Since state unemployment typically pays only $60 a day, that’s like living on a salary of less than $22,000 a year.
State unemployment benefits were designed to replace 50% of a worker’s lost income; however, all states now cap the benefit amounts. If you earn more than $50,000 a year, unemployment benefits won’t come close to 50% of your former salary.
Those who have done well financially often struggle on unemployment benefits.
If you lose your job, you and your family risk serious financial hardship. Even if you have a nest egg, how long would that money last? How long would it cover your mortgage, health insurance premiums, and other necessities? If you’re like most Americans, your savings would quickly run out in the time it takes to find a new job.
That’s why BB&T Insurance and Assura Group are introducing IncomeAssure® unemployment insurance.
Unemployment insurance is the remedy for unemployment stress.
Unemployment insurance protects your salary and supplements your state benefits so that if you become unemployed, you can still collect up to 50% of your former salary.
Unemployment Insurance can help your family stay afloat without draining your hard-earned savings:
- Benefits are paid to you, by check or direct deposit, for up to 24 weeks.
- Payments are triggered by the collection of state benefits and start two weeks after your state benefits begin.
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John, 36, Richmond, Virginia -- city planner, annual salary $90,000: |
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Without Unemployment Insurance |
With Unemployment Insurance |
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Former monthly salary: $7,500 |
Former monthly salary: $7,500 |
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Monthly unemployment: $1,638 |
Monthly unemployment: $1,638 |
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Total monthly income: $1,638 |
Total monthly income: $3,750 |
Cost-- $22.29 a month! (Rates as of 10/1/2012) |
Protecting your annual income with unemployment insurance is easy and affordable:
- Premiums generally range between 0.5% and 2% of your gross annual salary.
- Premiums may be tax deductible. (Check with your accountant to confirm).
- If you are currently employed and earning more than $50,000 per year, you may qualify. (There are lower income eligibility requirements for some states).
- You are eligible for benefits following a six-month waiting period. If you are unemployed or have an impending layoff during the first six months of your policy, you are not eligible for benefits, but IncomeAssure will refund all the premiums you have paid.
- Policies last one year, are easily renewable, and you can cancel your policy at any time.
Call 888-409-9622 today to speak with an insurance specialist and find out exactly how affordable peace of mind can be.