Unemployment Insurance offers optional, temporary cover that protects holders and joint-holders of an Instalment Loan in the event that they lose their job.
Good to know:
- Unemployment Insurance is only available to employees with a permanent employment contract.
- The insurance does not apply if the borrower or joint-borrower loses his or her job within 180 days of taking out the Instalment Loan.
- The insurance is only available for Instalment Loans with a minimum term of 24 months.
- Unemployment Insurance is not possible in the case of a Balloon Loan.