Insurance
Unemployment Benefits

Are there any private insurance companies that offer an unemployment benefit policy?

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Wiki User
2010-04-11 20:20:30

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.


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