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Global Forums > General > Be careful in taking an insurance against loss of income due to unemployment
 
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Be careful in taking an insurance against loss of income due to unemployment
Jun 19, 2011 @ 20:52

Hello glocalians,


I just want to share my very sad experience when I claimed for insurance to pay for a loan which I took and cannot pay it anymore because I lost my job. After taking my payments for more than 24 months, the insurance company simply told me that I am not qualified to claim for a benefit because my work contract was a FIXED CONTRACT and that the general policies say that persons on a fixed contract are disqualified from taking this insurance. My question is, why then did you accept my application for insurance and why had you been accepting my payment? I submitted a copy of my fixed work contract and had been transparent about my financial situation when I applied for the insurance. The insurance company did not answer my question. Funny thing is, yesterday, I received an invoice from this company to pay my dues in May or I will not be able to claim for benefits!


My fault - I do not speak French but signed the contract in French. The agent who recommended the insurance company summarized the policy in English and the issue on fixed contract was never mentioned. The agent knew very well that I have a fixed work contract.


Thanks.


 

The text you are quoting:

Hello glocalians,


I just want to share my very sad experience when I claimed for insurance to pay for a loan which I took and cannot pay it anymore because I lost my job. After taking my payments for more than 24 months, the insurance company simply told me that I am not qualified to claim for a benefit because my work contract was a FIXED CONTRACT and that the general policies say that persons on a fixed contract are disqualified from taking this insurance. My question is, why then did you accept my application for insurance and why had you been accepting my payment? I submitted a copy of my fixed work contract and had been transparent about my financial situation when I applied for the insurance. The insurance company did not answer my question. Funny thing is, yesterday, I received an invoice from this company to pay my dues in May or I will not be able to claim for benefits!


My fault - I do not speak French but signed the contract in French. The agent who recommended the insurance company summarized the policy in English and the issue on fixed contract was never mentioned. The agent knew very well that I have a fixed work contract.


Thanks.


 


joy cJun 19, 2011 @ 20:52
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Re: Be careful in taking an insurance against loss of income due to unemployment
Post 1
Jun 19, 2011 @ 23:44

Well first thing is not to pay the next premium - if you sent your work contract in with the plicy then they should theoretically not have issued the policy.  However, they will say that YOU should have read the terms of the policy and not contracted such policy knowing that it was not suitable.  Bit of a catch 22.  The insuance salesman will not really help you as he has cashed his commission. 


At a minimum, go see the insuranc company and at least have the policy cancelled - of course try to have it annulled from the outset if you can.  Buyer beware !

The text you are quoting:

Well first thing is not to pay the next premium - if you sent your work contract in with the plicy then they should theoretically not have issued the policy.  However, they will say that YOU should have read the terms of the policy and not contracted such policy knowing that it was not suitable.  Bit of a catch 22.  The insuance salesman will not really help you as he has cashed his commission. 


At a minimum, go see the insuranc company and at least have the policy cancelled - of course try to have it annulled from the outset if you can.  Buyer beware !


Poster, Jun 19, 2011 @ 23:44
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Re: Be careful in taking an insurance against loss of income due to unemployment
Post 2
Jun 20, 2011 @ 00:11

I would think you should be able to claim back the money you paid.


Also, if you worked in Switzerland and paid taxes from your income I believe you are entitled to unemployment benefits. And I think that in most cases you will get money which will be close to your salary.

The text you are quoting:

I would think you should be able to claim back the money you paid.


Also, if you worked in Switzerland and paid taxes from your income I believe you are entitled to unemployment benefits. And I think that in most cases you will get money which will be close to your salary.


Andrew I, Jun 20, 2011 @ 00:11
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