In Canada, there isn’t a specific insurance policy called “layoff insurance.” However, individuals who face job loss may be eligible for Employment Insurance (EI), a government program designed to provide temporary financial assistance to workers who have lost their jobs through no fault of their own. To qualify, applicants must have worked a certain number of hours within the past year and meet other eligibility criteria. EI benefits provide a portion of the individual’s previous earnings for a specified period, helping them cover basic expenses while seeking new employment. Additionally, some employers offer severance packages or other benefits to employees who are laid off, which can vary widely based on the company’s policies and the employment contract.