Many people don’t have much of a savings account to prepare them for emergencies, which is a scary concept if they suddenly become unemployed. CUNA Mutual has developed a new insurance called SafetyNet that might be helpful to those who are finding themselves unemployable.
It’s a year-long unemployment and disability supplement for those who are laid off or can’t get work for more than 30 days due to an illness or injury. The costs involved range from $5 a month for a $1,500 lump-sum payout to $30 a month for a $9,000 benefit with a lifetime maximum payout of $24,000. To collect, you just need to send a proof of loss of job or disability.
It’s a way to seriously relieve some stress when in an already horrible, stressful scenario.