Texas Unemployment Insurance makes money available to policyholders during unforeseen periods of unemployment. IncomeAssure can become an important component of your overall financial management strategy, especially in a tough job market.
Texas Unemployment Insurance can help you achieve financial stability in the event you lose your job. It can be difficult to meet basic living expenses and financial obligations, like tuition or mortgage payments, on state unemployment benefits alone. Though state unemployment systems are designed to replace 50% of a workerâ€™s lost income, state benefits are capped at a fixed dollar amount that varies by state. As a result of low caps in many states, state unemployment benefits do not replace 50% of income as designed for workers earning approximately $50,000 per year or more. Texas Unemployment Insurance closes the gap between state unemployment benefits and 50% of your income so that, if you become unemployed, you are still able to meet your short-term financial obligations — without exhausting your personal and retirement savings.
Assura Group was founded in 2006 to address the millions of Americans who are inadequately covered by state unemployment benefits. Currently, IncomeAssure is available in 32 states across the country and the District of Columbia. Eventually, the policy will be offered in all states, upon approval of policy form and rate filings. IncomeAssure is underwritten by Great American Insurance Company, rated â€œAâ€ (Excellent) by A.M. Best.
Texas Unemployment Insurance works in tandem with state unemployment benefits. You must receive two weeks of benefits under an approved state claim in order to trigger IncomeAssure supplemental unemployment compensation payments.