What is the duration of the waiting period?
Depending on the organization, the waiting period is 6, 9 or 12 months. This is a period starting on the date of the underwriting of the unemployment insurance or loss of employment insurance contract, during which the guarantee can not work: in the event of loss of employment during the waiting period, the insurer will not pay no compensation. There is also a grace period: a period of 3 to 9 months during which the insurer does not pay any benefits.
What date is taken into account to define the loss of employment of the insured?
It all depends on the insurer. Some companies rely on the expiry date of the insured’s notice period and on the date of payment of the first benefit. And others are based on the date of sending the letter of dismissal.
Who is the unemployment insurance for?
It is only accessible to employees on a permanent contract (Contract with indefinite duration) who can justify a seniority of at least 6 months or 1 year at the employer. You should not exceed an age limit of 50 to 60, depending on the contract. It should be known that only the involuntary loss of employment allows the assumption of the insurance.
What are the compensation amounts?
Monthly payments are rarely reimbursed in full by insurers. These are in fact supported by 30 to 80% of their amount. Depending on the insurer, the compensation can be fixed from the first month, while in others it is progressive. Example: 40% the first 6 months, 60% the next 24 months and 80% the last 6 months.
What is the duration of compensation?
The maximum benefit period for a period of unemployment is usually 18 months. In case of several periods of unemployment, the insured can again be compensated within the limit of the total duration of compensation fixed in the contract (3 years on average).
How much does unemployment insurance cost?
Unemployment insurance may have a different cost depending on the method of calculation used: either on the basis of the amount of the monthly payment or on that of the capital borrowed (from 0.10% to 0.60% per annum).