Unemployment insurance if you lose your job: Insurance loans for unemployed


Many workers become unemployed in the course of their careers. A period of time that, depending on the upcoming expenses, can become a great burden. If you lose your job, your income will drop by 20% to 30%. If you pay off a loan at this point, your financial situation can become critical. What options do you have?


With unemployment insurance

With unemployment insurance

If you have taken out unemployment insurance before you become unemployed through no fault of your own, this can compensate for the loss of earnings due to unemployment so that you can continue to repay your loan. With Crédits Conseils unemployment insurance, you receive a monthly pension of between USD 500 and USD 2,000. The contributions are between USD 15.90 and USD 92.20 per month. If unemployment occurs, benefits are paid for a period of up to 12 months. Up to 36 months are covered over the entire contract period.

Attention: In order to receive this amount, you have to wait 90 days between signing the insurance contract and becoming unemployed. Otherwise, you will not receive any benefits throughout the period of unemployment until you return to work. It is therefore advisable to anticipate and take out insurance early . You must also note that unemployment insurance only applies if you have been dismissed. You will not receive any benefits if you resign or if you are dismissed for gross negligence.


Without unemployment insurance

unemployment insurance

If you do not have insurance when you start unemployment, the situation will be difficult. It is too late to take out unemployment insurance that covers the cost of borrowing while you are unemployed. Nevertheless, contact the financial institution concerned quickly . It can suggest suitable solutions for repaying your loan to avoid difficulties.

The principle of responsible lending, which has been used by several banks since 2016, helps to avoid critical situations due to unforeseen events. By developing an individual risk profile with a sufficient safety margin for the borrower, the banks help their customers to avoid over-indebtedness due to a loan that is difficult to repay.


Banks with a complete range

Banks with a complete range

Certain banks, such as B. Astro Finance, provide for you and include unemployment insurance in your loan offer . This solution is suitable for borrowers who like to take advantage of a complete offer. Others such as B. Agree Bank or Cream Bank offer insurance as an option, the cost of which must be added to the loan.