Is there any unemployment insurance in india?


Why don’t in India we don’t have unemployment insurance like other countries


Hi Nagender,

Even though we don’t have unemployment insurance in India, we have something very similar known as ‘job loss’ cover. This can be taken along with loans such as a Home Loan. The insurer will pay up to 3 months of your EMIs for the loan for which you took a job loss cover. Just like many other policies, this will also have a waiting period of about 30 to 90 days. You can choose to take the policy for 1 to 5 years. Most policies will not cover unemployment of self-employed individuals. It will also not cover termination, suspension or retrenchment. Always read the exclusions and terms before you choose a policy.

BB Expert


As of now there is no unemployment insurance coverage that is being provided in India. Individuals and families have to rely on their own savings and planning to take through a period of no earning.