is there a such thing as insurance for losing a job to cover bills?

Question

i understand that some creditors off insurance for loss of a job, but i was curious if insurance companies would have an offer to cover all bills ie; car payment, house payment, credit card payments for a monthly fee.

Answer 1

There is a type of policy called disability insurance that would cover you if you became disabled or develop health issues that prevent you from being able to work. A local insurance agent could get you the specifics on this type of policy.

If you just get fired or quit you are out of luck as far as private insurance goes. However state unemployment was designed to cover this situation.

For most people you wind up self-insuring. In other words save for a rainy day.

Answer 2

The prior posts are correct.

Disability insurance pays you when you CAN'T work due to an accident or illness. (look into this insurance).

As far as just losing your job, the best thing you can do is become a highly productive and valuable employee so that your current employer and any potential employers will WANT YOU to work for them.

Answer 3

Well, insurance companies don't offer it, but the government does - it's called unemployment insurance coverage. It's paid by the employers to each state.

Answer 4

The best insurance for being out of a job, is not to loose it by being the very best empoyee your boss has.