If you are among the millions of Americans losing a job during the coronavirus pandemic, you may also be dealing with a severance package.

Severance is not guaranteed, unless a state law, employment contract or collective bargaining agreement says otherwise. But when it is offered to you, you should know that the agreement you are entering may be negotiable.

If so, dont leave money on the table. Recognize that these unusual times may call for unusual requests you should feel empowered to ask for.

These are unprecedented times, so impacted individuals should definitely try to brainstorm with their employers to devise creative situations that might be mutually beneficial, said Lori Rassas, a human resources consultant, executive coach and author of The Perpetual Paycheck .

Study how severance will impact your ability to get unemployment insurance.

Before you sign a severance agreement on the dotted line, consider what the payout is going to do to your long-term finances, including your ability to get unemployment insurance. Depending on where you live, severance pay might prohibit you from qualifying for unemployment insurance.