After this first period the warranty starts really

Not surprisingly, by the time running: "Since four or five months, borrowers ask us much about loss of employment insurance", confirms Ari Bitton, President of AB brokerage. The situation took any visibility to most individuals. When it prepares to take over 20 or 25 years, agree a contract of insurance job loss appears to be a wise precaution. It is a dramatic reversal, because this guarantee was finally somewhat contracted in recent years. It is true that it is not mandatory. In addition, it is considered, according to some, little protective and, for others, too expensive on the true extent of the guarantee.

"The cost is actually far from neutral to the borrower," conceded Alain Todini, Director General of Credixia. Nevertheless, with the meteoric rise of unemployment, the candidates for the loan the watch another eye. But can all agree Nothing is less sure. According to age, profession, the lending institution, the period to run from the notice of dismissal, conditions vary at all.

For employees only

Job loss insurance is exclusively to individual or collective dismissal unemployment, any other case being excluded (the resignation, for example, or the reference to fault serious). To subscribe to the guarantee conditions of age are also required. AFI Europe, for example, should not have more than 50 years. The deadline is 56 years for the contract proposed by the Bank LCL, while she moved to 59 years at Mutlog. Similarly, to Société Générale, it must be less than 60 years. It must also be paid, to be eligible for the pole employment unemployment benefits. In other words, liberal professions, merchants, artisans, farmers, or self-employed cannot access it.

Another important condition, the subscription is reserved for employees that could justify a contract of indefinite duration (CDI) work. But it's not all: we must work in the same company for at least 6 months or 1 year. However, some contracts are open to contract (CDD) fixed-term employees. "Loss of employment insurance have long been reserved only holders of CDI, explains in CNP Assurances, but the evolution of the labour market and the increase in short contracts prompted insurers to offer new products accessible to persons in CSD, CDI trial period or temporary workers." At LCL, the DDC more 3 months full time are eligible. But, "If the guarantee was implemented, the insured should justify a Commission at the time of his dismissal", says the Bank.

And then there is still this precision, this time, there is nothing a retail: job loss insurance can be contracted in the period of notice of termination, any more than in the phase of resignation or retirement.

Attention to deadlines

waiting

On guarantees, the offer is very diverse. What makes all the more delicate comparison between contracts. But, as a general rule, you should know that the loss of employment insurance fires after two periods: a waiting period that starts on the date of signature of the contract, during which the guarantee can be implemented. Unemployment during this period, no right to compensation under the guarantee is possible! According to the companies, this waiting period can take 3 months (Mutlog), 6 month (April) or 12 months (to Europe). After this first period, the warranty starts really.

However, this does not mean that unemployment, the Subscriber will be indemnified immediately. There is, in effect, a second time, said franchise, from the start date of the employment pole compensation. At the end of this period, which is most often between 90 days and 120 days, finally comes the support... Provided that the insured is still unemployment, of course!

These time limits must be added another element to consider before signing: this is the duration of compensation. Here also, the disparities are strong between insurers. It can oscillate between 12 and 36 months according to contracts. The society General, for example, it is limited to 21 months by event. In other words, the borrower can benefit many times over the repayment of its loan guarantee. If, by misfortune, he suffers a second dismissal, it can be compensated. Still necessary that he has found, in the meantime, an employment contract (at least 1 year with the same employer). At LCL, the duration of compensation depends on the length of activity in CDI or CDD. If the insured is less than 360 days, he is entitled to any compensation. Between 360 and 540 days, he enjoys a compensation for 180 days and over 540 days, 360 days. Same principle to Credit Foncier: If the time is less than or equal to 12 months, there is no compensation. Between 12 and 18 months, compensation court for 180 days and more than 18 months, it is brought to 360 days. Contracts of these two banks provide the reconstitution of the rights to compensation under certain conditions. In April, the contract provides for compensation to a maximum of two periods of 18 months of unemployment.

Compensation

always partial

As to the amount of support contracts also differ. In some cases, the compensation is fixed. This is the case in April, and Credit Foncier (contract AXA), in which compensation amounts to 50 of the monthly payment. Same thing at AFI Europe, which for its part, pays 75 of the deadline (limited to 1,500 euros). Among other insurers, is progressive. For example in Mutlog, where the insured enjoys support of the monthly payment in the amount of 40 the first 6 months, 70 the following 24 months and 100 the last 6 months. With the contract proposed by LCL, the insured chooses compensation: 50 or 75 of maturity on the premium that he would like to pay. Same principle for Société Générale (30 and 60 of compensation). Attention: in most cases, there is a ceiling of per diem, often to 64 euros amount.

A cost

non-negligible

There remains the question of the cost of job loss insurance, which is rather chilling. It is roughly 25 euros in April, which is changing its tariff of 10.92 EUR 45.48 EUR per month (less than 230,000 euros loan) depending on the level of Subscriber studies, highly educated being of course the better off. LCL, the tariff is 50 euros per month (50 compensation) or 75 euros (75). Credit Foncier, it rises to 1.65 euro per 10,000 borrowed EUR 24.75 euros for a loan of 150,000 euros or 33 euros for 200,000 euros.