Involuntary Loss of Employment (ILOE) Protection
Involuntary Loss of Employment (ILOE) Protection
If a Covered Member suffers Involuntary Loss of Employment, the Insurance Company will pay to the Covered Member a Benefit up to the amount and for the number of months subject to the terms and conditions of this Contract.
Only Involuntray Loss of Employment arising in the covered countries and as per the respective Contract of Employment can be covered.
Only one instance of Involuntary Loss of Employment will be covered during the Contract Period.
The payment of Benefit to the Covered Member shall be calculated from the Actual Date of Unemployment and the first payment shall be due on or after the Actual Date of Unemployment.
If the Covered Member’s vehicle is subject to finance the Benefit will be paid directly to finance company.
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