Are there any private insurance companies that offer an unemployment benefit policy?
There are private insurance companies that offer unemployment
insurance. The plans generally pay out $1,500 to $2,000 after 30
consecutive days of unemployment. They are supplemental plans and
can be used in conjunction with state unemployment insurance. They
pay benefits for 4 months.
Check the page for further stipulations.
Private Unemployment Insurance
Here is the definition of unemployment insurance as defined by
the State of Virginia:
Unemployment insurance is a program for the accumulation of
funds paid by employers to be used for the payment of unemployment
insurance to workers during periods of unemployment which are
beyond the workers' control. Unemployment insurance replaces a part
of the worker's wage loss if he becomes eligible for payments. UI
serves as an economic stabilizer by maintaining an individual's
purchasing power when unemployed.
Basically there are no private unemployment insurance policies
that you can purchase on your own accord. But, there are programs
for self-employed individuals. So you might be eligible to tap into
these, If not, explore other insurance programs such as AFLAC,
which offer assistance in the case of disaster or injury which
leave you unable to work for a period of time.
For the majority of private employers this is correct, however
501(c)3 corporations, public employers and Indian tribes are give
the opportunity to reimburse their charges instead of paying the
tax. These employers can purchase an insurance policy covering this
risk from Ohio Indemnity Company.