A simple and easy 3 step process to get your ILOE Insurance online.
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Involuntary Loss of Employment, or ILOE, is a beneficial scheme devised in accordance with Federal Decree-Law No. 13 of 2022. ILOE Dubai insurance aims to offer financial support to workers facing job loss. It covers private and federal government employees with a monthly compensation cash amount for three months, the maximum per claim. It is provided in a situation where the loss of employment was not due to a disciplinary action or resignation. At Insurancehub.ae you will find all relevant information and available plans for this scheme. Our advisors offer expert guidance to help you make an informed purchase every time.
To subscribe toILOE insurance Dubai, you can use any of the given channels:
The documents required for subscription are:
An insured individual received a compensation cash amount of about 60% of their average salary for the last six months before their job loss. There are two main categories:
The Involuntary Loss of Employment insurance is valid from the day the policy is bought till a year, i.e., 12 months after the policy expires. This policy, however, renews automatically after 12 months for the duration of the insured’s service period in Dubai.
This is if the insured individual is compliant with the premium settlement and subscription according to the terms and conditions as approved by the Ministry. If any insured individual fails to pay the premium for more than three consecutive months, then the policy gets terminated. They have to then reapply for a new Dubai insurance ILOE plan.
They are also subject to a fine as per the law. Not having this plan can lead to a fine of AED 400. Failing to pay premiums for over 3 months can lead to a fine of AED 200. Also, insured individuals must submit their claims within thirty days from their date of unemployment.
The ILOE scheme came into effect on January 1st, 2023. The last date to subscribe to this plan, as last updated, was October 1st, 2023. The last date for ILOE insurance for individuals whose employment began post-February 2023 was four months from the commencement of their job.
At Insurancehub.ae, we combine the best policies from ILOE, health, and car to travel insurance plans from leading insurance providers under one roof. We offer well-rounded information on each policy. You can compare quotes and make an informed decision quickly and hassle-free. With us, getting the best value for your money is a guarantee. Contact us for more!
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