Insurance for the case of borrower’s unemployment
SKB also provides insurance
In cooperation with the Generali insurance company, SKB provides the option of taking out insurance for the case of borrower’s unemployment. If you lose your job, the insurance company provides for your financial security and offers you a new start by paying out an agreed monthly allowance until you take up a new job, but not more than 12 months.
Best suited for
Insurance for the case of borrower’s unemployment is intended for anyone aged 15 to 54 with permanent or temporary residence in the Republic of Slovenia, who has been permanently employed (full-time) with the same employer in the Republic of Slovenia, for at least one year.
Advantages of insurance for the case of borrower’s unemployment
- suitable also for youngsters permanently employed for more than one year with the same employer;
- taking out insurance only with a personal identification document;
- receiving an allowance until the month of taking up new job and not more than 12 months from the month of loss of employment.
How long is the insurance taken out for?
You can take out insurance for the case of borrower’s unemployment for a period of one year with a possibility of automatic extension of the insurance agreement.
Insurance premium and amount of monthly allowance
The insurance premium is calculated based on the amount of a monthly allowance and can be paid by direct debit to the personal account monthly, quarterly, half-yearly or annually. Profession of the insured person can also affect the amount of the premium. An individual insurance premium instalment cannot be lower than 10 EUR.
The maximum amount of a monthly allowance is 1,000 EUR.
Table: Insurance premiums and selected amounts of monthly allowance
|Amount of |
|Amount of insurance premium**|
|100 €||/||/||15.98 €||31.95 €|
|200 €||/||15.98 €||31.95 €||63.90 €|
|300 €||/||23.96 €||47.93 €||95.85 €|
|400 €||10.65 €||31.95 €||63.90 €||127.80 €|
|500 €||13.31 €||39.94 €||79.88 €||159.75 €|
|600 €||15.98 €||47.93 €||95.85 €||191.70 €|
|700 €||18.64 €||55.91 €||111.83 €||223.65 €|
|800 €||21.30 €||63.90 €||127.80 €||255.60 €|
|900 €||23.96 €||71.89 €||143.78 €||287.55 €|
|1000 €||26.63 €||79.88 €||159.75 €||319.50 €|
* The selected amount of monthly allowance can vary between 34 and 1,000 EUR, and depends on the amount of the initial annual instalment of a granted loan. The insurance company shall pay to the insured person the agreed allowance until the start of new employment, but not longer than 12 months from the day when they obtain the status of unemployed persons. The insurance company’s warranty shall become effective 6 months after taking out of the insurance.
** The insurance premiums contain charged tax on insurance services amounting to 6.5 %.
When can you claim the insurance?
You can qualify for receiving a monthly allowance under the insurance for the case of borrower’s unemployment if you were permanently employed at the same employer for at least a year, and the employer terminated the employment contract for business reasons in accordance with the Employment Relationship Act.
Warranty and liabilities of the insurance company
The insurance company’s warranty shall become effective 6 months after the insurance was concluded. If you become unemployed, the insurance company shall start paying the agreed monthly allowance the month following your registration to the Employment Service of Slovenia. The insurance company shall pay you allowance until the end of the month in which you take up new job, but not longer than 12 months.
Upon the occurrence of the insured event
Upon losing your employment, the insurance policy holder informs and submits to the insurance company all the required documents, based on which it will be able to establish the occurrence of the insured event (e.g. a confirmation by the Unemployment Service of Slovenia on your entry in the registry of unemployed persons).
In order to take out insurance for the case of borrower’s unemployment, you need a personal identity document (personal identity card or passport).