It is the type of insurance that is designed for those people who suddenly lost their jobs without their own fault. Moreover, involuntary loss of employment insurance allows you to manage your expenses. Whether you want to pay your rent or bills, ILOE insurance offers comfort and peace of mind. Furthermore, it is a reliable solution for those people who heavily depend on their salary. In this detailed blog, we will discuss every point about ILOE insurance.
For every person, losing a job is not a good experience. When you lose your job, you lose your regular income and must take care of responsibilities like bills. Moreover, at that time ILOE insurance provides you leave by offering a portion of your income. It helps you to manage your expenses like rent, bills, and groceries until you find a new job.
If you purchase ILOE insurance then it is compulsory for you to pay a monthly premium. For a specific period, it is the responsibility of the insurance company to pay you a percentage of your salary. Furthermore, this period normally ranges from 3 to 6 months depending on the terms of your policy.
Plan Type
Eligibility
Monthly Premium (AED)
Monthly Compensation (AED)
Waiting Period
Coverage Duration
Exclusions
Basic Plan
Full-time employees with salary up to AED 16,000
5
Up to 60% of salary, max AED 10,000
30 days
3 months
Voluntary resignation, termination due to misconduct
Enhanced Plan
Full-time employees with salary above AED 16,000
10
Up to 60% of salary, max AED 20,000
Comprehensive Plan
All full-time employees, regardless of salary
15
Up to 75% of salary, max AED 25,000
6 months
High-Coverage Plan
High-income employees (salary above AED 20,000)
20
Up to 75% of salary, max AED 30,000
Involuntary loss of employment insurance covers 50% to 75% of your monthly salary.
When you lose your job you have to wait for a specific period, after that, you can receive payment. Moreover, this time is around 30 to 90 days, which normally depends on your policy.
The insurance company will provide you with a payment for 3 to 6 months.
If you are willing to avail ILOE insurance then it is important for you to meet eligibility criteria. Moreover, keep in mind you are working for 6 months to 1 year in a specific company.
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It provides you the benefit of maintaining financial stability during periods of unemployment. Moreover, ILOE insurance ensures that you are able to pay your bills and rent.
If you avail the option of ILOE insurance it eliminates stress and offers peace of mind.
ILOE insurance offers you comfort during your unemployment days. Moreover, it is important to know it is not a long-term solution.
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Step
Fees (AED)
Details
1. Visit the ILOE Portal/App
Free
Accessible online via the official website or mobile app.
2. Register Your Details
Requires Emirates ID, employment, and salary information.
3. Choose a Plan
Plans range from AED 5 to AED 20 per month.
4. Pay the Monthly Premium
5 - 20 per month
Payment via credit/debit card or other methods.
5. Receive Policy Confirmation
Confirmation includes coverage details and duration.
6. File a Claim (If Needed)
Submit required documents, such as a termination letter.
7. Claim Processing
Typically processed within a few days.
8. Receive Compensation
Monthly payments as per policy terms.
If you are willing to access LOE (Involuntary Loss of Employment) insurance in the UAE, you can easily get it by the below process:
To purchase ILOE insurance it is vital for everyone to visit their official portal or download their mobile app.
After accessing, it is important to choose the plan that you need. Moreover, it is normally based on your salary and the level of coverage you want.
For registration purposes, you have to provide your details like Emirate ID, employment information, and salary. Moreover, these details are very important to determine your eligibility and the premium amount.
After the registration process, Now you have to select a plan and pay the premium online. Furthermore, you can make your payment via credit/debit card or other available payment method.
At last after payment, you are able to receive a confirmation of your insurance policy. This will include details about your coverage and the waiting period.
ILOE insurance allows you to manage your expenses like rent and bills in case of suddenly lost jobs without fault. Moreover, it offers you comfort and peace of mind.
Expatriates and UAE Nationals are eligible to enroll in ILOE insurance in the UAE.
The most reliable way to access ILOE insurance is their official website and mobile app which you can use after registering yourself.
Yes, ILOE insurance is a reliable solution for those people who heavily depend on their salary. Moreover, it manages your expenses like rent and bills in the UAE.
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