Is there such a thing as unemployment insurance? Basically a policy where you pay a monthly premium and are covered up to $X amount in the event you get fired, laid off, etc.

likefunny
Posting as :
works at
You are currently posting as works at

Currently your employer pays that

like

A rainy day fund?

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I know employers do, but what about a personal policy?

funny

no - this probably does not exist. Think of the moral hazard implications (behavioral change in the presence of insurance). Do you think if you had personal unemployment insurance, that your attitude/behavior toward work would change?

EY your employer currently pays for that . For example, I got furloughed and get ~$1000 a week thanks to my unemployment insurance paid through 2019.

Note: $1000 due to added $600 cares act payment

Through 2019?

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