Hudson’s Bay Financial Services offers a unique product to Canadians that provides a monthly benefit for involuntary job loss. Currently, no other product offers unemployment benefits when you lose a job due to layoffs, restructuring or company closure. Life, Disability and Income (LDI) Insurance pays a monthly benefit — for up to six months — and can be used in addition to government Employment Insurance (EI). The money paid out from LDI Insurance can help cover debts and expenses while looking for new employment without having to dip into your savings.
It can take time to find a new position, especially if there were mass layoffs or a companywide closure. A flood of applicants makes interviews competitive, and in 2017 the average duration of unemployment was 19.6 weeks.1 Income insurance allows you to take the time to find a new job while having some financial security.
With a monthly unemployment benefit such as LDI Insurance, you can cover debts and bills without having to use your savings. Many Canadians are saving to buy a home or car or are planning for retirement. Using savings to pay for everyday bills while looking for a new position can significantly affect future plans. An unemployment benefit can help pay for whatever expenses you need to cover and can help keep your retirement — or home — savings intact.
You can protect your paycheque with Life, Disability and Income Insurance for only $19.99 a month. You’ll have the financial security to help you and your family in case of disability or involuntary job loss. You’ll also earn up to 8,000 Hudson’s Bay Rewards points when you sign up and every year on renewal.2
For more than six decades, Canadian Premier Life Insurance Company has been committed to providing financial security for Canadians who are facing uncertainties. They now insure more than 1 million Canadians from coast to coast.
1 Statista. “Average duration of unemployment in Canada from 2000 to 2017 (in weeks).” Retrieved November 28, 2018, from https://www.statista.com/statistics/441765/average-duration-of-unemployment-canada/.
2 Each Hudson’s Bay Rewards points offer is limited to one Rewards account per household. Rewards points will be issued within four to six weeks.