Job Loss Insurance

Job loss always hurts, but people find ways to make money out of other’s misery. I knew about job-loss insurance being available in other countries, but recently it got introduced in India. So insurance companies are now willing to pay EMIs in case of job loss.

Under the cover extended by ICICI, customers will get their three EMIs paid in case of a job loss due to retrenchment or layoffs. Moreover the job loss due to the closure of a division because of poor financial condition or action taken by any public authority resulting in the closure will also be covered by the insurer.

Can a job-loss insurance give you a piece of mind after a job loss? I have my doubts!!

5 comments:

  1. Anonymous1:27 AM

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  2. Hi, good post here. I do not know if there is something called as job loss insurance available in the market. Please let me know if there is. What i know and would like to share here is, some insurance companies like icici lombard provide home insurance that carries a clause that yhe company will pay upto 3 emis in case of job loss. One should definitely go for a hone insurance along with home loan which is onlu a nominal amount added in your emi for 5 years. Hope that helps you may check out details in icici website.

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  3. It definitely does give a piece of mind to have an insurance that saves you during an uncertain event as job loss. Market is very unpredictable you never know when you have a situation it is advisable to being proactive. Home insurance covers many other factors which is helpful. A major spend of your monthly income is on home emis and if you are saved during these tough times it is a great help. I have gone though it and have realized only when i faced it hence a piece of advise to everyone.

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  4. Thank you Nitesh for visiting my blog.

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