Should You Buy Supplemental Unemployment Insurance?

New product makes up the difference between your salary and state unemployment benefits.

By SHARE

Because the policy has a six-month waiting period following the initial enrollment, it's too soon to tell how many policyholders will file claims and whether the concept will work long-term.

However, Nylund is predicting that as consumers deal with an uncertain job outlook, supplemental unemployment insurance will become much more commonplace. "We have statistics that have told that you have a higher likelihood of becoming unemployed than becoming disabled or dying," she says. "I believe at one point down the road, unemployment insurance will be as much a household name along with life insurance or disability insurance."