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Copyright © 2009 Kyle Fitzsimmons
Although it is easy to think that you are immune from the depressing economy because you consider your job to be secure, you really can never predict the future. Hundreds of thousands of recently laid-off workers across the country thought the same thing and now find themselves unemployed with bills to pay. The most expensive bill in most homeowners' mailboxes is the mortgage bill. You can make sure that bill is taken care of regardless of your employment situation with a job loss protection insurance rider to your existing homeowners insurance policy.
According to an article recently published on InsuranceAgents.com, the best way to find affordable homeowners insurance quotes is to shop online and get in touch with a home insurance agent. Ask your agent mortgage protection insurance and whether or not it is right for you.
"Job Loss Protection Insurance: Myths" states that it is important to prepare for whatever the future may hold with a job loss protection insurance rider. The article states, "In any economy, let alone the one we are living in now where jobs are cut en masse everyday, it is wise to financially provide for an uncertain future. Job loss protection insurance will give you and your family the peace of mind that should the main bread winner find themselves without a job, your most costly and important expense--your mortgage--will not go unpaid."
The article lists several myths often associated with job loss protection insurance. For example, generally you are only eligible for job loss protection insurance if you are jobless as a result of unexpected termination and not mandatory, retirement, resignation, or if you're dismissed as a result of misconduct or criminal activities. Also, if you are self-employed or own more than 10 percent of the company that employs you, you are typically not eligible for job loss protection insurance.
Furthermore, if you are hoping to start collecting immediately after you are laid-off, then you might want to think again because most job loss protection insurance riders don't kick in for 30- to 60-days after you claim joblessness. Also, you will not have to bother with being the middleman, because your insurance company will be dealing directly with your mortgage company regarding your mortgage payments.
About the Author:
Written by Kyle Fitzsimmons. For more information, read "Job Loss Protection Insurance: Myths". Insurance Agents dot com provides expert articles, as well as auto and homeowners insurance quotes from up to five local insurance agents. Learn more at: http://www.InsuranceAgents.com/
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