Unemployment and Disability Insurance helps if you become injured on the job, at home, or even involved in a car accident.  Do you ever ask yourself, what happens if I don’t go to work today?   Well, going to work today usually is not a problem because most people have sick days, or even vacation days.  Ask these questions to yourself, what happens if you are out of work for a month?  How about three months?  How about a year? How about if your company is downsizing and, you could be on that list?  Do these companies give warnings out if they decide to lay off people within the company?  How about the economy today affecting the market, could it affect your job?  Many times people take for granted that a problem is not going to exist in their everyday life.  The average worker today works Monday through Friday, living from paycheck to paycheck, not realizing that a problem can suddenly change their comfortable life upside down.  If you do get into an accident, your insurance company is going to take time to settle your claim.  You probably won’t get any type of advance money so, how are you going to pay your mortgage?  How can you afford to make the payments?

Having unemployment disability insurance is a way to protect yourself in the event of something happening in your life like, an on the job accident, injure yourself at home, a car accident, or if you get laid off.  It’s a cheap monthly premium that you buy in the event you cannot make your mortgage payment.  If it’s an injury, show proof from your doctor stating that you cannot return to work and you are on temporary disability leave.  If it’s unemployment, show proof or a termination letter from your employer stating you have been terminated from the position.  It’s as simple as that!  In return, the mortgage payment is paid for by the insurer which pays the principal and interest payment.  A bonus is that the principal and interest payment does not go back into the mortgage.  The mortgage payment is paid, just as if you made the payment.  The property taxes and insurance are still your responsibility though.  Some insurance companies allow you to be out of work up to one year and continue to pay your principal and interest payment.  In a case where you were terminated from your job, you can file and collect for unemployment and still have your mortgage payment paid for by your unemployment disability insurance.  And, if for some reason you became permanently disabled and could not perform your job, your disability insurance could protect you for a set number of years.  It takes a long time for your lawyer to settle on a claim and you will not see money being exchanged for either months, or possibly years.  It all depends on your policy and your coverage.  It’s a great, secure way eliminating the worry of making the mortgage payment.  You have enough to worry about making payments.  This way it’s just one less payment to worry about.  Take time to understand the importance of having unemployment disability insurance and see how it can help you feel more secure and live worry free.