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A comment on Finally, Private Unemployment Insurance. But Will Anyone Buy It?. Parent comment

Re:Finally, Private Unemployment Insurance. But Will Anyone ... by ddt_Osprey on Friday May 27, 2016 @08:42PM (#11790090)
Meanwhile, you'll be paying for 24 weeks of coverage. And, so, 24 times $511 means, the maximum payout is $12,264 in taxable income, so maybe $8,000 in net cash.

So, at the 7 year mark (or maybe right now), just start questioning whether a simple, ordinary savings account would have been the better idea.

And, oh yeah, you don't get 24 weeks coverage until you've paid for coverage for 6 months. Otherwise, you just get back maybe $600 at best, and then The End. So you'd better have six months living expenses (or a solid job), AND $600 to pay into the policy, before even bothering, otherwise you're still screwed.

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Re:Finally, Private Unemployment Insurance. But Will Anyone ... by phonon on Friday May 27, 2016 @10:09PM (#11790298)
> Meanwhile, you'll be paying for 24 weeks of coverage.

Actually, premium payments are waived while on claim.

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Re:Finally, Private Unemployment Insurance. But Will Anyone ... by ddt_Osprey on Friday May 27, 2016 @11:07PM (#11790430)
No, I just meant in general. Under the circumstances that you're fully employed for 7 or 8 years, and never need to make a claim, the maximum payout is always 24 weeks of unemployment supplements. Therefore, after 8 years, you might have paid more than you'll ever get back, even with incremental raises during that lengthier period of time.
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Re:Finally, Private Unemployment Insurance. But Will Anyone ... by phonon on Friday May 27, 2016 @11:12PM (#11790444)
You can lose your job more than once.
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Re:Finally, Private Unemployment Insurance. But Will Anyone ... by ddt_Osprey on Saturday May 28, 2016 @12:18AM (#11790566)
Welly, welly, welly, welly, well.
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Re:Finally, Private Unemployment Insurance. But Will Anyone ... by phonon on Saturday May 28, 2016 @11:18AM (#11791919)
I see your point.
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