It isn’t enough to survive high winds, tidal surges, and power outages from a natural disaster like Superstorm Sandy. Who pays the bills if a job is disrupted or destroyed?
A 300% Increase in Natural Disasters2
In the case of Superstorm Sandy,
The first decade of the 21st century has seen a 300% rise in natural disasters compared to the 1980s.2 As a result, the amount of economic damage due to these natural disasters has seen a dramatic upturn.
Many Businesses Never Reopen after a Disaster
Forty percent of businesses do not reopen after a disaster and another 25% fail within one year according to the
While a hurricane or a tornado can destroy whole communities in seconds, it may take many months for people to re-enter the workforce. In the meantime, people need to pay their bills. Consider that:
- Sixty-five percent of working Americans could not cover normal living expenses even for one year if their employment income was lost.3
- Thirty-eight percent could not pay their bills for more than three months.4
Those able to land a new job may have to take a stiff reduction in salary. Workers with more than 20 years of experience in a prior job earn 20% less in their new jobs. 5
New Insurance Solution
“Our coverage is designed to help fill a salary gap if a person is reemployed at a lower earning rate, after becoming involuntarily unemployed,” says
“Even in the best scenario following a job loss, it could take months to find another similarly paying job,” adds co-founder
For more information, please contact SALARYGAP® Partners LLC’s President,
3 CDA 2010 Consumer Disability Awareness Study (
4 CDA 2010 Consumer Disability Awareness Study, 3.
5 “Fact Sheet: Improving Economic Security by Strengthening and Modernizing the Unemployment Insurance System,”