The UAE government has introduced the Involuntary Loss of Employment (ILOE insurance UAE scheme. It provides financial support to employees. It helps both in the private and federal government sectors who lose their jobs due to reasons beyond their control. This comprehensive guide will walk you through the process of paying, renewing, and checking your ILOE insurance coverage.
Table of Contents
What is ILOE Insurance?
ILOE insurance is a mandatory program that offers financial assistance to employees who lose their jobs involuntarily. It covers a portion of the employee’s salary for a limited duration, ensuring stability during unemployment. The compensation can reach up to AED 20,000 per month for eligible employees, depending on their salary bracket, and is provided for a maximum of three months per claim.
ILOE insurance UAE Official Website: www.iloe.ae
Features of ILOE Insurance
| Feature | Details |
|---|---|
| Eligibility | All employees in the private and federal sectors |
| Coverage Amount | Up to AED 10,000 or AED 20,000 per month |
| Claim Duration | Up to 3 months per claim |
| Subscription Period | 12 months |
| Payment Options | Monthly, quarterly, semi-annually, annually |
Paying for ILOE Insurance
ILOE insurance premiums can be paid through various channels, making it convenient for employees to subscribe to the scheme. Here are the available payment options:Direct Channels:
- ILOE website (www.iloe.ae)
- ILOE mobile app
- SMS payments
Other Channels:
- Bank ATMs
- Exchange centers
- Business centers
- Customer service centers
It’s important to note that if the insured fails to pay the premiums for more than 90 days, the insurance policy will be cancelled, and they may be subject to fines as per the applicable law.
Renewing ILOE Insurance
ILOE insurance is valid for 12 months from the inception date of the insurance certificate. To maintain continuous coverage, employees must renew their policy before the expiry date. The renewal process can be completed through the following channels:
- ILOE website
- ILOE mobile app
- ILOE call center at 600599555
- Any other specified channels by the Ministry of Human Resources and Emiratisation (MOHRE) in coordination with the Insurance Pool
Checking ILOE Insurance Coverage
Employees can check their ILOE insurance coverage and any outstanding fines or penalties through the following steps:
- Visit the ILOE website (www.iloe.ae) or use the mobile app.
- Log in to your account using your credentials.
- Navigate to the relevant section to view your coverage details and any fines or penalties.
- If you need further assistance, contact ILOE customer support via phone or email.
The subscription period is 12 months, starting from the inception date of the insurance certificate. Premiums are based on the employee’s basic salary and are subject to VAT if applicable.
| Basic Salary | Monthly Premium |
|---|---|
| AED 16,000 or below | AED 5 + VAT |
| Above AED 16,000 | AED 10 + VAT |
ILOE insurance is a crucial safety net for employees in the UAE, providing financial stability in case of involuntary job loss. By understanding the payment, renewal, and coverage checking processes, employees can ensure they are adequately protected under this scheme. For more information or assistance, visit the official ILOE website or contact the ILOE insurance pool at 600 599 555.
FAQs
Is ILOE insurance mandatory?
Yes, it’s mandatory for all UAE employees.
What is the coverage period for ILOE?
You must be insured for 12 consecutive months to claim benefits.
How much compensation can I get from ILOE?
Up to 60% of your basic salary for a maximum of 3 months.
What are the reasons for claiming ILOE benefits?
Involuntary job loss, not resignation or dismissal for disciplinary reasons.
How do I subscribe to ILOE?
Through your employer or directly via the ILOE platform.
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