Hospital cash benefit acts as a disability insurance if you're hospitalised

Another form is critical illness cover that'll pay you upon diagnosis as a lumpsum

Stand alone disability insurance will only pay you to the extent of disability

If you're seeking any other form of support monetarily that can come only from opting for a loan against some form of endowment plan otherwise there isn't a product that simply pays you for being unemployed, well and not being disabled.

Dear Umang,

Insurance plans don't compensate for job loss due to company closing down or for loss due to non performance. In such scenarios the job loss is not permanent and only for a brief period. Yes a person could be employed again on a lesser package and not able to afford the emi's.

To cover such scenarios one therefore should have a emergency fund of 6-12 months of monthly expenses. Alternative income sources like rental income, freelance, etc also helps.

Some plans do offer riders to cover emi or loans amount but they come along with accident or critical illness or home insurance etc.

Regards

Rohit Dhingra