iloe insurance

Guarding Your Tomorrow: The Power of Iloe Insurance 2024

iloe Insurance aligns with the groundbreaking Federal Decree Law No. 13 of 2022 addressing Involuntary Loss of Employment (ILOE); our innovative Scheme is a steadfast safeguard for employees navigating the challenging terrain of job loss.

Tailored to extend security to those experiencing unemployment due to reasons beyond disciplinary measures or voluntary resignations, our commitment is unwavering.

We pledge support until they successfully transition into new and promising opportunities, ensuring their journey through this phase is met with resilience and confidence.

Who is eligible for the UAE Unemployment Insurance (ILOE) Scheme?

The eligibility criteria for the UAE Unemployment Insurance (iloe Insurance) Scheme encompass a broad spectrum. All employees, whether in the public or private sectors, are eligible, with specific exclusions.

This careful delineation ensures the Scheme’s targeted support for those genuinely facing involuntary unemployment.

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What are the conditions for claiming compensation under the UAE Unemployment Insurance Scheme (ILOE)?

 Under the provisions outlined in the Article, specific conditions must be met to qualify for compensation under the UAE Unemployment Insurance Scheme (iloe Insurance):

  1. The subscription period in the unemployment insurance scheme should extend to a minimum of 12 consecutive months.
  2. Adherence to the prescribed frequency of paying all insurance premiums is imperative.
  3. Submission of evidence demonstrating unemployment stemming from reasons other than voluntary resignation is mandatory.
  4. Termination of employment should not result from disciplinary actions by the prevailing laws governing labor relations in the private sector and human resources in the federal government.
  5. A compensation claim must be filed within 30 days following the termination of the employment relationship or upon the court’s ruling on a labor complaint.
  6. Absence of an existing absconding report is a prerequisite for eligibility.
  7. Compensation claims should not be fraudulent or deceitful, and the establishment where the employee works must be legitimate.
  8. Compensation payouts will cease upon securing employment with another employer.
  9. Loss of employment cannot be attributed to strikes or other non-peaceful protests, irrespective of the extent of damage caused.
  10. Legal residence in the country is a necessary condition for the insured individual.

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How can you claim the Insurance under the UAE Unemployment Insurance Scheme?

Claiming Insurance under the UAE Unemployment Insurance Scheme is a straightforward process outlined by the Ministry of Human Resources and Emiratisation. Covered workers must submit their compensation application within thirty days of becoming unemployed.

By Article 12, once an eligible application is submitted, the approved iloe Insurance provider, sanctioned by The Central Bank of the United Arab Emirates, must disburse the payment within two weeks of receiving the claim. This swift and efficient process ensures that eligible individuals promptly receive the support they are entitled to during their period of unemployment.

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How could you register for the UAE Unemployment Insurance Scheme?

Individuals in the UAE have various options to seamlessly subscribe to the mandatory Unemployment Insurance Scheme (iloe Insurance), ensuring accessibility and convenience. Here are five methods to enroll:

Direct Channels – iloe Insurance Website and App:

  • The ILOE portal and mobile application, available on both Apple and Android devices, facilitate direct enrollment. These platforms, managed by Dubai Insurance, offer a free, user-friendly sign-up process.

Exchange Centers – Al Ansari Exchange:

  • Al Ansari Exchange provides a straightforward subscription process for ILOE insurance. By visiting any branch, individuals can follow these steps:
    • Present their Emirates ID.
    • Provide their mobile number.
    • Request the iloe Insurance form.
    • Select the policy period (one or two years).
    • Choose a payment option: monthly, quarterly, semi-annual, or annual. Upon payment, individuals receive official enrollment confirmation via a receipt.

Kiosks – MBME Pay and Play:

  • Subscription to the iloe Insurance scheme is also possible through kiosk machines, specifically MBME Pay and uPay. With widespread locations, these kiosks can be easily located using online map applications.

Bank Mobile Applications – C3Pay:

  • The C3Pay app and card, provided by Edenred, a Central Bank of the UAE-authorized Wage Protection System (WPS) agent, offer a convenient enrollment option. Users with a C3Pay card or account can directly subscribe through the C3Pay mobile application, available on both Apple and Android devices.

Tawjeeh and Tasheel Centers:

  • Tawjeeh and Tasheel service centers, operated by the Ministry of Human Resources and Emiratisation (MOHRE), provide an additional avenue for ILOE scheme subscription. Individuals can enroll in the Scheme by furnishing their Emirates ID and mobile number. To locate nearby MOHRE service centers, individuals can visit the MOHRE website.

How is the insurance payout calculated under the UAE Unemployment Insurance Scheme?

According to the Ministry of Human Resources and Emiratisation (MOHRE), the calculation of insurance payout under the UAE Unemployment Insurance Scheme follows a structured approach. The compensation is determined every month, equating to 60% of the basic salary, provided for a maximum duration of three months from the date of unemployment.

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The insurance scheme is categorized into two groups:

Category A:

  • Employees with a primary wage of Dh16,000 or more undersized.
  • Insurance fee: Dh5 per month (or Dh60 yearly).
  • Monthly compensation: 60% of the basic salary, capped at Dh10,000.

Category B:

  • Employees earning Dh16,000 and above.
  • Insurance cost: Dh10 (or Dh120 annually).
  • Monthly compensation: 60% of the basic salary, up to Dh20,000.

According to MOHRE, individuals compensated through commission can also participate in the Scheme. The insurance cost, either five or ten dirhams (AED 10) per month, is based on the category and can be paid monthly, quarterly, bi-annual, or yearly. This comprehensive structure ensures that the UAE Unemployment Insurance Scheme accommodates various employment scenarios and salary levels.

What are the entities that provide Insurance Policy?

 When seeking an Insurance Policy, individuals in the UAE have diverse options from reputable entities. Here are 6 national insurance companies under the Dubai Insurance Company that provide Insurance policies:

  1. Dubai Insurance Company: Dubai Insurance Company
  2. Al Ain Ahlia Insurance Company: Al Ain Ahlia Insurance Company
  3. Emirates Insurance Company: Emirates Insurance Company
  4. Orient Insurance: Orient Insurance
  5. Oman Insurance Company: Oman Insurance Company
  6. Orient UNB Takaful Company: Orient UNB Takaful Company

These esteemed institutions offer a range of insurance solutions catering to various needs and preferences of individuals seeking reliable coverage.

iloe Insurance last date

The mandatory Unemployment Insurance Scheme in the UAE officially commenced on Sunday, January 1, 2023. Acknowledging the need for a transition period, the grace period for compliance was extended, with the deadline now set for October 1, 2023. This extension provides individuals additional time to ensure their enrollment and participation in the Scheme.

References

The Ultimate Guide To UAE Unemployment Insurance Scheme 2023: Everything You Need To Know (emiratesdiary.com)

ILOE Insurance UAE: Eligibility and Benefits | IFZA

Yara Refaat
Yara Refaat
Articles: 193