Bank policy provides protection against that pink slip

Is the boss acting a little standoffish lately? Have you really screwed up that last big deal?

Maybe Banco Nacional has exactly what you need: Unemployment insurance.

The bank said Monday that its BN Corredora de Seguros is offering credit protection for people who may lose their job. The deal is a little self serving because the insurance only covers 12 months of monthly payments that individuals might be  obligated to pay the bank. The insurance will not put food on the table or pay the rent. But it may pay the monthly amount for vehicle loans and mortgages.

The insurance is denominated in dollars and colons. For each $1,000 of coverage, the monthly premium is $26, the bank said. For every 1,000 colons of coverage, the premium is 24.7 colons a month.

The bank noted that the Instituto Nacional de Estadística y Censos said that national unemployment was 9.6 percent in the first four months of 2013. For youths 15 to 24, the percentage is 23.1. Even professionals are not exempt. 

The bank said that the rate among persons with university degrees is 11.3 percent.

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