Dubai: If you have received a text message from the account name ‘DIN’, make sure you don’t ignore them. This is because the messages are from Dubai Insurance, the company that manages the Involuntary Loss of Employment (ILOE) Insurance Pool, and sends notifications to employees subscribed to the scheme.
Keeping track of your job loss insurance policy is extremely important, as you need to make sure you pay your premium on time to remain eligible for compensation in case of an involuntary job loss.
But what happens if you fail to renew your subscription? Let’s find out.
Insurance cancellation
According to the ILOE website, if you fail to pay the insurance premium for a period exceeding three months according to the agreed payment plan in the policy, the insurance certificate can get cancelled. In such a situation, you would need to resubscribe to ILOE.
How to subscribe again
• Visit diniloe.ae and log in as an ‘individual’.
• Provide your Emirates ID number, date of birth and mobile number and enter the one-time password (OTP) you receive.
• If your policy has been cancelled, the following message will show up: “We regret that your police [policy number] is now cancelled as the premium is overdue. Please ensure you resubscribe. The ILOE is a mandatory insurance product per Federal Decree Law No. 13 of 2022 concerning the Involuntary Loss of Employment (ILOE). There are legal implications of non-payment of premium and non-subscribing to insurance in accordance with the relevant laws mandating the involuntary loss of employment as a mandatory cover in the UAE.”
• Close the pop-up window and you will be able to see your dashboard.
• If you have any fines, you will be able to see them and pay using your credit or debit card.
• Next, on top of your dashboard, you will see the option to pay for the new policy. Check the box confirming that you have read the terms and conditions of the policy and then click on ‘Pay now’.
• Your premium will be calculated depending on your insurance cateogry and whether you opt for a one-year or two-year policy.
• Make the payment using your credit card or debit card. You also have the option to pay through Samsung Pay.
Why staying subscribed is important
Having a cancelled policy can affect your eligibility for compensation, as employees can claim the insurance benefits subject to the full completion of the 12 consecutive months’ subscription. To find out more about all the factors that you need to keep in mind to ensure that you can claim job loss insurance when you need it, read our detailed guide here.
