What unemployment insurance covers

A typical unemployment insurance policy covers Life, Critical Illness, Permanent Total Disability, Hospitalisation, Accident & Sickness and Involuntary Unemployment.

If you are employed and an accident or sickness prevents you from working, or you become unemployed through no fault of your own, for 14 consecutive days or more, then one monthly repayment on your loan account will be paid. Thereafter we will pay the same amount for each complete 30 days period that you are unable to work.

If you are not employed you will be paid the same benefit if you have to stay in hospital because of accident, sickness or injury for more than 5 days. Only one benefit is paid at any time. This benefit will continue to be paid for up to 12 months (unemployment benefits only), or until you return to work, recover from your illness or your insurance ends, whichever happens first.

The maximum benefit is £5,000 per month. Should you suffer a critical illness, die or are working and suffer a total permanent disability, your outstanding loan balance (excluding arrears) will be paid off up to a maximum of £50,000.