One of the things that you get when you get health insurance is you are -- when you lose your job, is the ability to pay for health insurance through something called COBRA. But that is very, very expensive.

CNN: Transcript of June 'CNN Money Summit: Money & Main St.'

Debt-protection services, which cover your credit-card bill when you can't, can help out if you become ill or lose your job, protecting your credit score, the Government Accountability Office said in a report last month.

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He stated simply that a recession is when your neighbor loses his job, and a depression is when you lose yours.

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