Financial Security with Income Insurance

Income insurance provides extra financial protection in addition to unemployment benefit, giving you a higher level of compensation if you become unemployed. This enables you to focus on your career without worrying about financial uncertainties.

Just as you can insure your house, apartment or car, you can also insure your income. If you are a member of Akademikernas a-kassa – the unemployment insurance fund for university-educated professionals – you can receive unemployment benefit from the fund. However, this compensation can be no higher than 80 per cent of SEK 33,000 per month before tax, which is SEK 26,400. Akavia's income insurance provides compensation for your income above the SEK 33,000 threshold.

As an Akavia member, you are covered by our income insurance, which is administered by Folksam. This insurance supplements the compensation you receive from the unemployment insurance fund, allowing you to receive 80 per cent of your income up to a ceiling of SEK 100,000 per month for 120 working days, (equivalent to six months), if you become unemployed involuntarily. In order to qualify for the Akavia  income insurance, you must also be a member of Akademikernas a-kassa, the unemployment insurance fund for university-educated professionals.

Eligibility for Akavia's Income Insurance

When you become a member of Akavia, our income insurance is included automatically in your membership at no extra cost.

If you become unemployed, you will need to apply for compensation from the income insurance. To receive compensation from Akavia's income insurance, you need to:

• Have been a member of Akavia for at least twelve months before becoming unemployed.
• Be a member of the Akademikernas a-kassa unemployment insurance fund.
• Have been granted income-related unemployment benefit from Akademikernas a-kassa.
• Have an income of more than SEK 33,000 per month.
• Have worked for a minimum of 80 hours per month for at least twelve months within the last 18 months before becoming unemployed.
• Be defined as involuntarily unemployed following an assessment by Akademikernas a-kassa.

Please see here for all qualifying conditions for income-related unemployment benefit from Akademikernas a-kassa.

If you were covered by another union's income insurance before joining Akavia, that time may be counted as part of the qualifying period for the Akavia income insurance. The membership of the other union must have been directly before your membership of Akavia began. If you become unemployed before you have been a member of Akavia for twelve months, you will need a certificate from your previous union.

Please note that if an ongoing compensation period covered by another union's income insurance continues when you join Akavia, you must start a new compensation period with qualifying days for Akademikernas a-kassa in order to receive compensation from the Akavia income insurance.

• Apply to become a member and insure your income

If you wish to expand the protection provided by the Akavia income insurance, you can also take out supplementary insurance until the calendar year you reach the age of 61:

• TIME insurance extends the payment period from 120 working days to 300 working days, (equivalent to 14 months).
• SALARY insurance is for members who earn more than SEK 100,000 per month, raising the maximum income insurance level to SEK 160,000 per month.

• Expand the protection at Folksam

To qualify for compensation from Akavia's income insurance, you also need to be a member of Akademikernas a-kassa. Income insurance supplements your unemployment benefit compensation and ensures that you will receive 80 per cent of your income up to a ceiling of SEK 100,000.

Being a member of Akavia does not automatically make you a member of the Akademikernas a-kassa unemployment insurance fund. As Akavia and Akademikernas a-kassa are separate organisations, you need to submit a separate membership application to Akademikernas a-kassa.