Manage a Layoff with Income Insurance
Often, involuntary job loss comes as a surprise. If you’re not prepared, the sudden loss of a steady paycheque can make it difficult to meet your financial obligations. That’s why it’s extremely important to ensure you have adequate insurance coverage — even if you currently feel secure in your job. You can successfully manage a layoff with the protection of Life, Disability and Income Insurance through Hudson’s Bay Financial Services.
Life, Disability and Income Insurance helps protect you from financial strain by providing up to $500 a month in the event of involuntary job loss due to company closure, business restructuring or company reorganization. This unique product is the first of its kind in Canada and can be used to pay a variety of expenses.
To successfully manage a layoff, you need to be able to prioritize debts and expenses. Life, Disability and Income Insurance payments are made directly, giving you the freedom to manage your finances. The monthly benefit can be used to cover anything, from mortgage and car payments to tuition to utility and cable bills.
Another benefit of Life, Disability and Income Insurance is that it’s paid out in addition to any government Employment Insurance (EI) benefits you qualify for. Supplementing government payments with an additional monthly benefit can help cover everyday costs or the additional expenses of looking for new employment.
Job security is a concern for many Canadian workers, and one of the best ways to successfully manage a layoff is to prepare in advance. Life, Disability and Income Insurance can provide you with the security to cover expenses while looking for a new job, and you can also earn up to 8,000 Hudson’s Bay Rewards points when you sign up and every year on renewal.1
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 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.