Ever worry about that dreadful letter stating that your employer doesn’t require your services anymore? Does the thought of losing your job keep you up at night? There is a solution that could make you sleep much better at night. It’s called unemployment insurance. There are 2 major aspects of unemployment insurance in India:-
Let us discuss both of these options in detail below.
An unemployment insurance rider is an add-on that you can purchase with your existing life insurance policy. The motive of this additional rider is to cover you against any unforeseen unemployment caused due to:-
There are certain things that job insurance does not cover. They are:-
Further, self-employed people cannot opt for unemployment insurance.
All employees enrolled under the Employee State Insurance Act can avail of the Rajeev Gandhi Shramik Kalyan Yojana. This Yojna states that an employee can claim unemployment benefits if he/she is unemployed due to no fault of theirs, business winding-ups, or workplace injury
Salient features of Rajeev Gandhi Shramik Kalyan Yojana
In light of the above information, the prudent employee should know about these unemployment insurance options in India and act upon them. It may save them a lot of unease in the future.
Are you looking for a new insurance policy or a policy renewal? Reach out to us and let us assist you.