Iowa now offering layoff insurance to workers

Hawkeye State joins Wisconsin in offering this insurance

Posted: Jul 10, 2018 9:34 PM

MASON CITY, Iowa - The state of Iowa is joining Wisconsin in offering layoff insurance to workers.

Users are allowed to choose from plans that pay out a lump sum if a person is laid off or becomes unable to work.

Duane Tesch says the insurance can benefit many people, especially if they're trying to make ends meet during tough times.

"I think people need more than unemployment insurance to get along, because a lot of people have house mortgages and car loans and this and that, and you don't want to let your insurance lapse if you can and keep that paid."

However, he doesn't believe that being paid via a lump sum is not exactly the best way to go about it.

"Borrowing money isn't always the answer. So I don't think a lump sum is really a good thing to have with these insurance payments. I think it should be monthly just like unemployment insurance."

SafetyNet, the company that created this type of insurance, says the program will give money quickly if you are suddently laid off or get sick or injured and can't work for at least 30 days. Users can decide between four different plans.

Any plan does not preclude participation in an employer offered disability plan, nor do they impact eligbility for unemployment benefits.

Article Comments

Mason City
Broken Clouds
68° wxIcon
Hi: 85° Lo: 67°
Feels Like: 68°
Albert Lea
70° wxIcon
Hi: 84° Lo: 66°
Feels Like: 70°
Scattered Clouds
72° wxIcon
Hi: 86° Lo: 68°
Feels Like: 72°
Charles City
70° wxIcon
Hi: 84° Lo: 67°
Feels Like: 70°
69° wxIcon
Hi: 84° Lo: 66°
Feels Like: 69°
Today kicks off somewhat of an active pattern with low severe weather risks for the work week
KIMT Radar
KIMT Eye in the sky

Latest Video


The ongoing need for blood donors


Rochester Salvation Army store to close

StormTeam 3: Tracking Returning Rain


KoMet volleyball sweeps Byron 3-0


Latest Iowa AP football poll


Dover-Eyota gets past St. Charles


Talking about homelessness


Getting to see the new electric bus


Chris' PM Weather Forecast 9/17


Float therapy to reset your brain

Community Events