This payment protection insurance for vehicle loans covers the dismissal of customers with a permanent contract, civil servants (temporary) and members of co-operatives. The main requirement is that the INEM verify the unemployment situation. There is a waiting period of two months from contract signing and a one-month excess.
It covers temporary disability for self-employed workers, career civil servants and customers with a temporary contract. And it has a two-month waiting period, only for illness, from contract signing and a one-month excess.
Compensation in both cases:
-Indemnity to be received for Cards: Compensation will be paid with 10% of the balance drawn on the date of temporary disability, monthly with a maximum of six consecutive monthly payments, regardless of the customer's payment method and with a maximum of €400/month.
-Indemnity to be received for Loans: Compensation will be provided with the amount of the monthly payment, with a maximum of six consecutive monthly payments or 18 alternate monthly payments, and with a maximum of €400/month.