ILOEInvoluntary Loss of Employment (insurance)
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I also paid the minimum balance for the first 30 days after ILOE, as per ADCB insurance policy.
Moreover, as per ADCB/Adnic ILOE clause, it states that at the time of ILOE, the primary cardholder or insured member should be unemployed, resident of UAE, under a valid employment visa provided by the employer terminating his/her employment.
They also told me to send one ILOE form every month.
The bank has a Credit Shield programme which offers credit card customers some protection against involuntary loss of employment (ILOE).
If the customer is dismissed from work or declared redundant, the benefits can be availed of for three consecutive months and/or for an aggregate period of six months (for several ILOE claims).