Income insurance?
Hello! Two years ago, I came across a type of insurance in Germany that covers the difference between your salary and unemployment benefits if you find yourself laid off. To simplify: in Germany, unemployment benefits typically amount to 60-67% of your previous salary, depending on various factors. This insurance would pay the remainder, bringing your income up to 100% for a specified period (12 to 24 months). Has anyone heard of something like this before?
Thanks so much!
Hi! Yes, what you’re describing is often referred to as “income insurance” or “salary insurance,” and it’s designed to provide additional financial support if someone loses their job. In Germany, it can help bridge the gap between the unemployment benefit and your previous salary during a period of unemployment.
This type of insurance is particularly useful for individuals concerned about financial stability during job transitions. It usually comes with specific terms regarding the duration of coverage and conditions for making a claim.
It’s important to carefully review the policy details, including the costs, coverage limits, and any limitations that may apply. If you’re considering this type of insurance, it might be a good idea to consult with a financial advisor or insurance specialist familiar with the options available in Germany. Let me know if you need more information!