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If you know that things are getting worse do not wait till you are laid off, contemplate over a career shift? Before this, consider some technical courses or any workshop, training programmes so that you can build your new credentials for a change of career. You never know when you may be laid off. Remember that you are working for your employer and he has the right to lay you off when ever he wants. Legally speaking and on humane grounds this is not right. An employee must be given a notice period of 45 days before he is sacked off so that he has enough time to find another job. You may not have enough money nor time to spend on your additional courses or training later when you are out of employment. So think over this now! The other tip would be to get your self an income protection cover so that you continue to get your income despite of being out of employment. You may use it for your mortgage payments, credit card bills, mobile bills and other expenses such as medical expenditure etc. One must plan a head and consider these options in order to protect one self in future. It is difficult to lead a life with out any monthly earnings and no savings to resort to. Be prepared for your future. These unemployment protection plans can be used to protect your mortgage payments, personal loan payments or even your income against unemployment, accident or sickness. If you are self employed, you can still get your self covered under mortgage protection insurance. You can still get mortgage or rent protection but not redundancy as you are not employed by some one. Having a job meant long-term financial security before, not any more. You may be thrown out of your job any time. Very few people have the luxury of savings to fall back on, and if you do, why should they be depleted when they’re no doubt earmarked for something else? Savings should not have to be used to maintain your lifestyle in the event of unemployment, but what’s the alternative? It is income protection insurance, make use of this! - Safe guard up to 70% of your net monthly income up to a maximum monthly benefit of £2,000 - A choice of Back to Day 1 or Day 30 cover - Have a 90 day initial exclusion period for unemployment claims only - The option to transfer in from an existing payment protection policy if you qualify - You are free to cancel your insurance when you feel it is not necessary. Shourya Ray Chaudhuri, Ezine Articles Expert Author.For more information: Unemployment Protection Insurance
Get more information: Redundancy Insurance
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