Jobsurance Reviews?

For 24 lpa they are asking 6k per year and also on that they only give 3 month salary in case of job loss. I rather save 6k as emergency fund then paying for 3 months salary every year (which also has many clauses)

I thought of this as a great product if I have neck to neck EMIs and I’m running low on savings(due to down payment), but since this sector lacks regulation from authorities I will likely be running after them for my first month ensured salary to pay my EMIs and also preparing for interviews & giving them(via jobsurance and directly/indirectly).

We must remember onething, insurance companies have a goal to make more money. They can do this assuming that out of 100 people only 1-2 people would require a monthly salary from them. If during a recession, 20 people lose jobs out of their pool they would start cutting corners(as no regulation). So in this case saving ₹6k in liquid funds/FD would be better than giving it to them. 🥲

Thinking from their side too a bit, they cannot cleanly estimate the risk of insuring a person as the companies will not be sharing any info with an unregulated entity.

This is very difficult to implement without a huge mass paying premiums every year. See this works out in places like Europe because pretty much everyone has to pay to the govt and in return you can get 60-80% of salary guaranteed for 18 months.