Tag Archive for job loss

4 Things to Do After Losing Your Job

losing your job

5498329705_3a3059b478_zThere is nothing fun about losing your job.

Most people will deal with a number of emotions after being either fired or laid off. Not to mention the financial concerns that will arise after losing your job.

If you are going to get through this challenging part of your life successfully, you need to have a clear plan in place as soon as you find yourself without employment. The outlook doesn?t need to be bleak, but you certainly do need to take action.

Here are four tips to follow if you find yourself suddenly without a job and you need a plan to get back on your feet.

File for Unemployment Benefits

This is likely the first thing you should do. Depending on the details of your termination, you may be eligible for unemployment benefits. File right away to get the process started.

When filing your unemployment claim, be completely truthful right from the start to give yourself the best possible chance of receiving benefits. If you falsify your claim in any way, you will run a serious risk of being denied. While unemployment benefits certainly aren?t going to cover your entire lost income, and they won?t last forever, they are a big help in trying to continue paying the bills.

Polish Up Your Resume

You are going to need a great looking resume to compete in the job market. So you need to get to work on making your resume look as impressive as possible. It should be up to date with all of your experiences and work history. Your resume should also have plenty of references. It is often the references that make or break your chances to get a job, so be sure to think of as many people as possible who will support you.

Network

Do you know people that work in fields where you may be able to find a job? If so, start by contacting all of them to make them aware of your situation and ask if they will ?keep an eye out for you?.

You don?t even have to explicitly ask them for a job at this point. Just tell them that you are looking, and you would appreciate it if they let you know when something comes available. After a period of time has passed, follow up with these people just to remind them of your situation.

Apply Every Day

Now that you are out of work, looking for a new job has become your full time job. Each day you should be sending out as many applications as possible. You should also use all of the channels that you’ve found. While you aren?t going to hear back from most of the applications that you send, it only takes one to make all the difference in the world.

Once you do secure an interview or two, prepare carefully and put your best foot forward when you have a chance to win the job.

 

Have you ever lost your job? What were the steps you took after losing your job?

 

Photo courtesy of: World Relief Spokane

Can I Pause My Health Insurance If I Lose my Job?

health insurance

health insuranceThe following post is for our Australian readers…

Losing your job can be extremely stressful. The lack of immediate income and uncertain future can take a mental toll on virtually anyone who experiences it, particularly where unpaid bills are concerned. One of the most important bills for many Australian workers is their required monthly contribution to a health insurance policy.

While essential to individuals who wish to build and secure a future for themselves and their families, health insurance does not generally represent a day-to-day necessity and is often one of the first financial obligations considered for deferral in the wake of unexpected unemployment.

Unfortunately, most providers do not provide a standard utility allowing policyholders to temporarily suspend their policies due to financial constraints. A lapse in payment on the policy will simply render it void until the policy is reactivated, typically by settling the outstanding balance along with associated reactivation fees. For this reason, it is advisable to keep up with the payments if at all possible. Private HBF health insurance in Australia will give you many different options depending on your situation, your best bet is to call your provider & speak with them directly.

Policy Preservation Options

Having your health insurance policy placed in jeopardy is a serious issue, but as with many things in health, the best defense is prevention. A way to protect your policy while you are still able to pay the premium is to sign up for special policy options that ensure the continuation of your cover in the event of job loss.

These are optional policy features available at a premium from many providers, and typically allow premiums to be waived for a set period after the loss of a job. After this period has ended, you will be responsible for making payments on your policy again, but this reprieve can prove valuable to individuals suddenly burdened with a loss of income.

Income Protection

Many insurance carriers also offer an option known as income protection as a supplement to a health insurance policy.

Income protection is also known as redundancy insurance, and when activated, income protection replaces your income for a set period of time during your unemployment to help with everyday expenses, including bills. Some policies even provide for these expenses directly as well, such as by making your credit card payments for a set period of time.

Redundancy protection sounds like an extremely valuable resource to newly unemployed individuals, but there are a number of restrictions and limitations on most policies of this type. For example, most income protection policies do not allow you to collect any income during a claim or can disqualify claims based on the circumstances of the policyholder?s departure from their job.

A health insurance policy can be a substantial expense, but keeping up with the payments is necessary for it to maintain its value, as there is no way to put a hold on a standard policy. Although there are options for policyholders to take advantage of before unemployment, the hard truth those who wait until they need the protection to seek it out are usually too late.

 

 

Photo courtesy of: 401kCalculator.org