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Follow on Google News | Protecting yourself; Involuntary Unemployment InsuranceBy: The Warranty News There are different options for consumers to consider when shopping for involuntary unemployment insurance. There is income protection insurance, which will cover some expenses if they can no longer work. There is also payment protection. Payment protection will cover or suspend any payments during a time of involuntary unemployment. With this, a monthly premium is set and the consumer may need to hold the insurance for a time before benefiting from it. A requirement established to prevent consumers from purchasing insurance right before the unemployment. The payment process works in different ways. One way is a direct payment from the insurance fund to the financial institution. The other way leaves the payments up to the consumer. They will receive a pay out where they can then decided how to split the money. While IUI can help to eliminate many outstanding debts, it is strongly advised to have money in savings to cover expenses since there is usually a waiting period before the unemployment benefits becomes active. Since most involuntary unemployment insurance plans only last a few months, the consumer may need to speak to the lender to get an extension is he or she still can not find work. This could include a request to suspend payment or renegotiate the monthly payments. Terms of insurance policies should be well researched to understand what is and is not covered. The Warranty Group is a full service extended warranty provider that has the professional acumen to match all needs. And in today’ To learn more about The Warranty Group, its resources, and the products it can put in front of your customers, please visit our website (http://www.thewarrantygroup.com). End
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