UNEMPLOYMENT INSURANCE, DOES IT EXIST?

 UNEMPLOYMENT INSURANCE, DOES IT EXIST?

Can employment be secured? Well the truth is that no. Except in some cases, the certainty of always having a job is not total, because this depends on many factors that it is impossible to control. But that employment cannot be secured does not mean that unemployment cannot be secured. In fact, there is insurance for unemployment.

You may be thinking: of course! That's unemployment insurance, right? Certainly, the unemployment benefits received by the majority of employed workers who lose their job are a form of public insurance. What happens is that unemployment, as it is commonly known, is a benefit whose objective is to guarantee a minimum standard of living to the unemployed worker while looking for another job. Seeks, then, to finance the day to day. People, however, have other commitments that are also very important above the day to day.

The clearest example is the payment of a mortgage loan . You can become unemployed at a time when you are still paying your mortgage installments; in fact, it is the most frequent case, taking into account the validity of the loans to buy the house. In that case, what will you do to not stop paying the installments and, thereby, incur the risk of having your house taken away?

For these cases there are so-called payment protection insurance , which is a very direct expression. Insurance that protects the payments that you have to make and now you cannot , so it is the insurer who assumes them. In this way, during the period of time that is stipulated in the insurance contract, it will be your insurer who will take care of paying the loan installments while you recover.

Unemployment, in fact, is not the only problem that this type of insurance usually covers. The insured's inability to generate income due to accident, illness or hospitalization is also usually included among the elements of the insurance, so this type of contract is also interesting for economic actors such as the self-employed.

You should also know that a dozen insurance companies that sell this insurance adhere to a sector self-regulation guide that guarantees, among other things, that when contracting this product there will be no discrimination due to health or disability; as well as that a simple and standardized information note with the characteristics of the product will be delivered to the client, so that he can effectively compare between offers.