Every employee in the country should be familiar with the items in their payslip. In particular, they should look at the deductions being made and understand why money is being taken away from their account. Employment Insurance (EI) is one such item that only costs very little compared to your total income, but can really be worth it when the time calls for it.

Employment Insurance can cover you if are just a few months unemployed or if you are ill and need to go to a hospital. In some cases, you can take a leave of absence in order to care for a family member or relative. The number of benefits go on and on, which is why it’s important to read through all of the requirements thoroughly so that you don’t have to worry about it when an emergency happens.

If you don’t have EI yet, apply for it immediately. You can ask your HR department to assist you with the papers, but you should be responsible for making sure that everything goes according to what is lawfully required. Once you have been approved for EI, you should forward the information to your HR and accounting departments so that you don’t miss any monthly payments.

When a situation calls for the use of your Employment Insurance money, you will have to fill in a report regularly to prove the validity of your insurance need. In most cases however, you won’t need Employment Insurance, but’s it’s nice to know you have something to fall back on during those rare occasions.