Introduced in 2023 by the government of UAE, the Involuntary Loss of Employment (ILOE) insurance is mandatory for certain worker categories in the emirates. In the UAE, ILOE insurance is an important safety net for employees, offering financial help if you lose your job unexpectedly. With the job market constantly changing, knowing how to renew your ILOE policy is important to keep your coverage and peace of mind.
Since the insurance policy has been in place for over a year, many residents are now looking to renew their ILOE subscriptions. If you’re feeling a bit confused, don’t worry! This guide will take you through the ILOE renewal in UAE so you can stay protected.
What is ILOE Insurance?
ILOE is an insurance which provides financial help to employees who lose their jobs unexpectedly. It offers temporary income, reducing financial stress and giving people time to find new employment.
Importance of ILOE Renewal
Renewing your ILOE policy ensures continuous coverage, so you’re protected if you lose your job. A smooth renewal process helps keep your financial stability and peace of mind.
ILOE Insurance Renewal Requirements
Renewing your ILOE insurance involves a few important requirements. Ensure you have the following documents and information ready:
- Emirates ID
- Passport Copy
- Have an active ILOE policy with all premiums paid up to date.
- Be currently employed in the UAE.
Keeping these documents prepared in advance will make the renewal process smoother..
How To Do ILOE Insurance Renewal Online in UAE?
As your current policy’s expiry date approaches, you will get a message reminding you to renew.
You can renew your ILOE insurance before its expiry date or even shortly after. Here is a quick step-by-step guide on how to renew your ILOE license online in UAE:
Step 1: Visit the official ILOE insurance website.
Step 2: Click the red ‘Subscribe/Renew Here‘ button.
Step 3: A pop-up message will appear. Tap on the ‘Subscribe Here’ button.
Step 4: You will be taken to a new web page. Under the ‘Individual’ category, select the option that applies to you: Private sector, Federal Government employee (Public sector), or Non-Registered in MOHRE (Free-zone workers).
Step 5: You’ll be taken to the ILOE portal after choosing your sector. Here, you may need to enter the following details:
- UID (Unified Identity Number) or Emirates ID Number
- UAE mobile number
- Date of birth
Step 6: Click the ‘Confirm’ button.
Step 7: Sign in using an OTP code sent to your mobile number or Registered User login credentials.
Step 8: You will be provided with the option to renew your insurance policy.
Step 9: Tap on ‘Renew’ or ‘Subscribe’ and take you to a card payment tab.
Step 10: Upon successful payment, your ILOE insurance will be renewed for another year.
Alternative Ways To Renew ILOE Insurance in the UAE:
You can use service providers to apply for the subscriptions and renewal on your behalf. The approved service providers are:
ILOE Insurance Renewal Price
If your basic salary is less than AED 16,000, you need to pay AED 5 per month, adding up to AED 60 per year. If you earn more than AED 16,000, you must pay AED 10 monthly, totalling AED 120 annually.
ILOE Insurance Renewal Payment Plans
The ILOE insurance program provides several payment options. You can choose to pay in instalments or all at once. The payment plan options are:
- Monthly: Pay every month.
- Quarterly: Pay in four parts throughout the year.
- Semi-annual: Pay twice a year.
- Annual: Pay the full amount once a year.
ILOE Renewal Payment
Paying the renewal fee is a critical step in the process. Payment options typically include:
- Online payment via credit/debit card.
- Bank transfer to the provider’s account.
ILOE Renewal Time Period
Renewing on time is essential for uninterrupted coverage. Most ILOE policies need to be renewed annually. It’s best to start the renewal process at least a month before your current policy expires to avoid any gaps in coverage.
Final Takeaway
So that’s all about iloe renewal in the UAE. It is simple and helps protect you financially if you lose your job. You can ensure continuous coverage by following the steps in this article and staying updated on your policy details. Always check with credible sources and consult your insurance provider for the latest information.
Frequently Asked Questions (FAQs)
Q. Is there a grace period for ILOE renewal in the UAE?
Yes, there is a three-month grace period for paying ILOE premiums. However, the ILOE scheme does not cover certain groups, such as those on temporary contracts, investors, domestic workers, minors, retirees who have resumed working, and individuals terminated for misconduct. Non-payment of premiums beyond the grace period can result in policy cancellation and a fine of AED 200.
Q. Who is exempt from ILOE insurance in the UAE?
Some specific categories of workers are not required to subscribe to the ILOE Insurance Scheme. These include:
- Investors
- Domestic helpers
- Temporary contract workers
- Individuals under eighteen years of age
- Retirees who are entitled to a pension and have joined a new job
Q. Who is eligible for unemployment insurance in the UAE?
To qualify for compensation under the unemployment insurance scheme, you must have paid the monthly premium for at least 12 consecutive months. This requirement ensures that individuals have contributed enough to the scheme before they can access benefits in case of job loss.
Q. How to check ILOE insurance status in the UAE
- Log in to the ILOE portal at www.iloe.ae or the ILOE mobile app.
- Choose your sector.
- Enter your Emirates ID and mobile number, then request an OTP.
- Click on “View Policy Details.“
