WOODBURY, N.Y., July 12, 2016 /PRNewswire/ -- A recent article in Time magazine, Unemployment Insurance You Can Buy (In Advance), explores the benefits of owning IncomeAssure, a form of supplemental unemployment coverage that is on the rise as job security tumbles. According to the article, job cuts jumped 24% last year to a five-year high.
"Millions of Americans have either lost their jobs or are in positions that could be eliminated," explains David Sterling, CEO of SterlingRisk, which administers IncomeAssure. "Economic growth is uneven, we're in the midst of a contentious Presidential election season, and there is uncertainty about a new administration and new policies. Workers who are concerned about the future are turning to IncomeAssure in growing numbers to help protect their financial wellbeing."
IncomeAssure is private sector supplemental unemployment insurance available in the District of Columbia and all U.S. states except Alaska and Hawaii. Combined with state unemployment benefits, it provides up to 50% of former weekly salary after an individual is involuntarily unemployed.
According to Sterling, that's significant since people who are unexpectedly laid off quickly discover that state unemployment insurance alone is not enough to cover mortgage payments, tuition, or medical bills.
"Today's professional requires a financial cushion that realistically reflects his or her salary," he points out. "Rather than a state benefit that can be capped at $300, IncomeAssure covers salaries up to $250,000 a year. It allows our policyholders to maintain their current lifestyle and pay their bills while unemployed."
IncomeAssure provides policyholders with one additional benefit — peace of mind. Even if you never use the insurance, it's good to know it's there for you and your family. To learn more, call 1-888-428-3133 or visit IncomeAssure at www.incomeassure.com.