What is Unemployment Insurance and How Can It Help You?

Unemployment insurance is considered by many as a temporary source of income that is available if you lose your job. When you are employed, your employer pays a tax known as payroll tax and it’s a portion of this tax that enables an employee who has lost their job to collect weekly payments enabling them to pay bills and provide for their family while they look for work. img-3

 

Unemployment insurance is obtained by filing the proper paperwork and waiting to be approved. This process should start as soon as you lose your job as payments are not retroactive and they begin as soon as you are approved not when you are eligible. Eligibility begins immediately upon losing your job through termination brought about by the employer. If you quit your job, you will not be eligible for unemployment benefits. There are some circumstances, however, where an employee may be able to collect unemployment even if they have not been terminated by their employer.

Who Is Not Eligible?

An employee is ineligible for unemployment benefits if:

–         They quit their job.

–         They were employed for less than three consecutive months.

–         They were terminated for misconduct or damage to company property.

–         They are self-employed.

–         They are not a U.S. citizen

 

There are other instances in which an employee might not be eligible and many of the above reasons do have exceptions such as if an act of nature forced the closure of the business where the employee worked, they may be eligible for unemployment benefits even if they hadn’t worked at the establishment for more than three months.

 

To continue receiving unemployment benefits, a former employee needs to either make a monthly appearance in person or online to fill out the required monthly paperwork and to show proof that they are indeed seeking employment.

 

Unemployment insurance is very important as it can help you feed and take care of your family, pay your bills and keep your home and it can help you get the training you need to find another job. By having unemployment insurance to rely on, you are able to focus on finding employment without having to worry about your family or your home.

 

When your employment is terminated, the very first step you need to take is to contact your local Department of Labor and learn the steps needed to apply for unemployment insurance. Many of these steps can be handled over the phone or online saving you time and travel making finding another job that much easier.

img-4

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

We will be happy to hear your thoughts

Leave a reply

NHBS Inc © 2024

NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

NHBS Inc © 2022

NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

Business Loans

Consumer Loans

New Horizon
Logo
Enable registration in settings - general