The Difference Between Income Insurance and Unemployment Benefits in Sweden
Income insurance provides additional financial protection alongside unemployment benefits, allowing for higher compensation if you were to become unemployed. This enables you to focus on your career without worrying about financial uncertainties.
Similar to insuring your house, apartment, or car, you can also insure your income. If you are a member of Akademikernas a-kassa – the unemployment fund for academics – you can receive compensation from the fund. However, this compensation can be at most 80 percent of 33,000 SEK per month before taxes, which is 26,400 SEK. Akavia's income insurance supplements the portion of your income that exceeds the 33,000 SEK threshold.
As an Akavia member, you are covered by our income insurance administered by Folksam. This insurance complements the compensation you receive from the unemployment fund, allowing you to receive up to 80 percent of your income, up to a level of 100,000 SEK per month, for 120 working days (equivalent to six months) if you become involuntarily unemployed. To utilize the income insurance, you must also be a member of the Akademikernas a-kassa, the unemployment fund for academics.
Qualifications to Use Akavia's Income Insurance
By becoming a member of Akavia, income insurance is included in your membership.
If you are dismissed from your employment, you will need to apply for compensation from the income insurance on your own. To receive compensation from Akavia's income insurance, you need to:
- Have been an Akavia member for at least twelve months before unemployment.
- Be a member of Akademikernas a-kassa.
- Have been granted income-related compensation from Akademikernas a-kassa.
- Have an income exceeding 33,000 SEK per month.
- Have worked a minimum of 80 hours per month for at least twelve months within the last 18 months before unemployment.
- Be involuntarily unemployed, determined after an assessment by Akademikernas a-kassa, which then the income insurance follows.
If you were covered by another union's income insurance before joining Akavia, that time may be added to your time of qualification for our income insurance. This requires the union membership to be directly connected to your entry into Akavia. If you are dismissed from your employment before being an Akavia member for twelve months, you will need a certificate from your previous union.
Please note that after joining Akavia, you must start a new compensation period with qualifying days at Akademikernas a-kassa to receive compensation from the income insurance. If you continue a compensation period begun in another union's income insurance, you cannot be granted compensation.