ILOE (Involuntary Loss of Employment) insurance was introduced in 2023 to provide financial support to employees in case of sudden loss of employment. If you forgot to renew this insurance or you don’t want to renew it, you can renew it on your own after following our guide. ILOE is earned on monthly, yearly, and quarterly amounts which you can decide as per your wish. Annuity payers tend to forget how to do it when they have to renew but don’t worry, we will give you the complete information.
What is ILOE?
ILOE insurance is for people who are employed anywhere in the UAE. Everyone is financially vulnerable after losing a job, but if you have taken the ILOE insurance scheme, it will protect you and your family. Fully support the family and bear your expenses till you get the next job.
If you do not renew it while you are in the ILOE scheme, you may be fine. So it should be renewed before its scheme policy expires so that you don’t face problems later.
ILOE Insurance Renewal Requirements
In order to join or renew the ILOE scheme you have to fulfill certain conditions including age, employment status, and other factors.
- Employment Status: You must be in standard employment.
- Pre-existing Insurance: You must have pre-existing ILOE insurance that is expiring.
- Renewal Application: You need to send a renewal application to your insurance company.
- Payment: You will have to pay the renewal fee as per your insurance company which depends on your monthly salary.
- Emirates ID: You may need an Emirates ID to renew it.
- Passport Copy: if you come here to work from abroad, you may need a Passport copy.
How to renew ILOE insurance online
For this, you have to go to the official website of ILOE log into your account select the plan, and pay the amount. You can pay this amount through various financial apps and websites in the United Arab Emirates. Let’s now know how to renew ILOE online.
Once, your ILOE insurance is going to expire, you will a reminder SMS on your registered mobile number some days ago. Be prepared to renew the ILOE insurance online using the following guide:
Step 1: Open the Official Website
Visit the ILOE official website https://www.iloe.ae/
Step 2: Select the Involuntary
An option will appear on your screen “Involuntary Loss Of Employment” or “Worker Protection Program”. Select the Involuntary Loss Of Employment (ILOE). Before this, you have to click on the “Subscribe here” button after this, you will be redirected to a new website.
Step 3: Select the sector
Select whether you are employed in the public sector or the private sector. This section will appear on the new website where you have to choose the sector from Non-Registered in MOHRE, public sector, or the private sector.
Step 4: Enter the information
On the ILOE website, Enter your Emirates ID number, UID (Unified Identity Number), and the mobile number or date of birth that is linked to the ILOE system. Now, click on the confirm button
Step 5: Verify identity
Verify your identity with the One-Time Password (OTP) received on your mobile. If you have not received OTP, you can retry it.
Step 5: Log in
After entering the OTP, login to your account.
Step 6: Go to the Renewal section
Go to the “Renew” or “Subscription” section. When you successfully log in to your account, you will be able to review, cancel, and update any information or plan.
Step 7: Follow the instructions
Follow the on-screen instructions to complete the renewal process. Tap on the ‘Renew’ or ‘Subscribe’ button and continue to enter the cart information.
Step 8: Pay
On reaching the payment stage, select the payment method of your choice and complete the payment. Once the payment is completed, you have successfully upgraded to the next year or months according to your selected period.
Renewal through the mobile app
- Download the official mobile app of ILOEE on your smartphone.
- Log in or create a new account using your Emirates ID and registered mobile number.
- Select the Refresh section in the app’s menu.
- Select the number of months you want to pay monthly, semi-annually, 3 months, or annually.
- Follow the instructions to complete the renewal process and make the payment.
- After payment, your policy account will be renewed again.
Through the Customer Service Center
- Visit your nearest ILOE Customer Service Center You can also find it on Google Maps.
- Go with your Emirates ID, current insurance policy, and payment method.
- Ask a customer service representative for help renewing your insurance.
- Make your renewal payment and receive your new policy receipt.
ILOE Insurance Renewal Price
When you renew your insurance, you get to see different types of plans. Among them, you have to choose one which is according to your salary range. You can choose an annual insurance plan and pay it at once and the details of these plans are listed below.
- Salary Range: AED 16,000 or less
- Price: AED 5 per month (or AED 60 per year)
- Salary Range: Above AED 16,000
- Price: AED 10 per month (or AED 120 annually)
Online Payment Options
You can pay online such as by using a credit card or by cash or card through approved service providers.
- Bank Transfer of Agent
- Online through Credit Card
If you are late in paying the annuity, you may see a gap in the insurance which may be detrimental to you. You must renew the insurance one month before its expiry so that you do not face any problems while using the services.
Risks of Not Subscribing to ILOE Insurance
Not renewing it can put you in financial trouble. Suppose you don’t renew your ILOE insurance and you also lose your job, then you will face a lot of financial problems.
- You may find it difficult to pay debts and bills
- Due to lack of time under financial pressure, you may have to accept a job quickly and of low quality.
- In an emergency situation, you may face problems like health problems, etc.
If you do any job, you must keep ILOE insurance updated and also check its status. It supports you and your family a lot financially, especially when you lose your job then they support you until you find a new job.
If your salary is AED 10,000, you can get financial assistance up to AED 6,000 per month, which will last for a maximum of 3 months. You are given 3 months time so that you can easily find your new job which matches your criteria.
You can claim ILOE insurance only once in a calendar year. A minimum continuous employment period of 12 months must be completed between each claim. One thing you have to remember is that all insurance installments and premiums must be paid on time. If you don’t pay them on time, you can’t make an insurance claim.
