WHAT IS UNEMPLOYMENT INSURANCE, DOES IT EXIST?

 Can employment be secured?

Well, the truth is that no. Except in some cases, the certainty of always having a job is not total, because this depends on many factors that it is impossible to control. But that employment cannot be secured does not mean that unemployment cannot be secured. In fact, there is insurance for unemployment.

You may be thinking: of course! That's unemployment insurance, right? Certainly, the unemployment benefits received by the majority of employed workers who lose their job are a form of public insurance. What happens is that unemployment, as it is commonly known, is a benefit whose objective is to guarantee a minimum standard of living to the unemployed worker while looking for another job. Seeks, then, to finance the day today. People, however, have other commitments that are also very important above the day today.

Unemployment, in fact, is not the only problem that this type of insurance usually covers. The insured's inability to generate income due to accident, illness, or hospitalization is also usually included among the elements of the insurance, so this type of contract is also interesting for economic actors such as the self-employed.

For these cases, there is so-called payment protection insurance, which is a very direct expression. Insurance protects the payments that you have to make and now you cannot, so it is the insurer who assumes them. In this way, during the period of time that is stipulated in the insurance contract, it will be your insurer who will take care of paying the loan installments while you recover.

The clearest example is the payment of a mortgage loan. You can become unemployed at a time when you are still paying your mortgage installments; in fact, it is the most frequent case, taking into account the validity of the loans to buy the house. In that case, what will you do to not stop paying the installments and, thereby, incur the risk of having your house taken away?

You should also know that a dozen insurance companies that sell this insurance adhere to a sector self-regulation guide that guarantees, among other things, that when contracting this product there will be no discrimination due to health or disability; as well as that a simple and standardized information note with the characteristics of the product will be delivered to the client so that he can effectively compare between offers.

WORKING FOR INSURANCE SECTOR?

Nobody knows a sector better than those who work in it. That is why we have decided to ask insurance employees directly what it is like to work here. More than 4,400 people have answered our questions about issues such as their satisfaction in the sector, working conditions, or the most useful skills in insurance companies. This is everything they have told us:

Proactive, flexible, motivated, committed, and valued. These are the five adjectives that define the more than 4,400 employees from 73 different companies who responded to the survey launched during the summer of 2019. Participation has been anonymous and online and has been framed within the Un Insured Future project, with which the insurance association, UNESPA, seeks to attract young talent to the sector.

4,400 employees from 73 different insurers have participated in a survey on working conditions in the sector

Employees have also defined what are the most necessary qualities to work in insurance. They are these: knowing how to work as a team, be proactive, adapt to circumstances, and be responsible and committed to the project.

The main conclusion of the study result is that the insurance employee is satisfied to work here. This is demonstrated by the fact that 84% of respondents say that they like to work in insurance, and 77% even recommend joining it. Among the most striking advantages highlighted by the workforce are continuous training, stability, and attractive functions offered by the sector.

The website An Insured Future also includes a list prepared by experts in the sector with the five main advantages of dedicating itself to the world of insurance: the social contribution of this industry to society, the technological commitment made by insurers, the social benefits for employees, the plurality of job offers and the economic solvency of the sector.