Is there any bank that offer Job loss insurance?

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meghal
Member since: Jul 04

Posts: 1651
Location: (0,0,0)
Post ID: #PID

Posted on: 08-01-09 14:41:30

Quote:
Originally posted by guptamik

heheh ok Sorry about that.... When I say free, I guess what I really wanted to say was, we pay taxes etc and as a result we get EI (this i meant free) as compared to spending more money to buy from another source.

Your EI gets deducted from your payroll. And if you are lucky to sustain your job for long time, the time and amount you are eligible for EI will be less than the EI contributions you made during your career span. I believe same applies for CPP

Aashu
Member since: Nov 04

Posts: 1353
Location: Vaughan
Post ID: #PID

Posted on: 08-01-09 14:49:01

Quote:
Originally posted by guptamik

yea.. you get EI for free so why pay to get any other insurance? There are insurance policies that can be purchased to cover you for job loss but i'd not waste money!

Can you pl name some companies who offer that, I searched but could not find any. EI can help you survive but can not help you pay your mortgage.

uday62
Member since: Aug 04

Posts: 129
Location: Canada
Post ID: #PID

Posted on: 08-01-09 15:24:08

well, EI is approximately 55% of our weekly earnings. i am looking for an additional insurance for my job. when we were in middle east some banks used to offer 6 months salary at the event of a job loss (not fired) if we pay them reasonable premium every month.

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Contributors: pratickm(2) guptamik(2) meghal(2) uday62(2) morning_rain(1) Aashu(1)

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Is there any bank that offer Job loss insurance?

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