Insurance

Involuntary unemployment Insurance

Feb 2, 2023 | 3:27 PM

PRINCE GEORGE – With the sudden downturn in forestry, and the laying off of staff, some experts say there’s a relatively new insurance product that can help you through these challenging times.

Recently, some financial institutions have offered involuntary unemployment insurance programs to help those laid off.

A decrease in the availability of economic fibre led to job losses and temporary layoffs for hundreds of people working in the forestry sector in the past month or so.

“Right now, the economy is such that we’re not sure what kind of economy we are going into. And this is just a haven for people, and it gives a security blanket to them.”

Mona Bibra, Financial Services officer, Integris Credit Union

According to credit professionals, this type of insurance first became popular during the pandemic.

If you’re in this situation, you’re encouraged to contact your local financial institution.