How to Get Up to $16,300 of Job Loss Insurance in UAE

The United Arab Emirates (UAE) has launched an unemployment insurance scheme that provides financial assistance to workers who lose their jobs. The scheme is open to all eligible employees in the country, and premiums start at just AED 60 ($16) per month.

Workers losing their jobs will be eligible to receive a maximum benefit of AED 60,000 ($16,340) for up to three months. The amount is calculated based on the worker’s average salary.

The scheme is mandatory for all employees except investors, domestic workers, and employees with temporary contracts.

There are several ways to subscribe to the Unemployment Insurance Scheme. The preferred channel for most subscribers is the Insurance Pool’s website, but it can also be subscribed via its app, kiosks, business service centers, money exchange centers, bank smart apps, SMS, and telecom bills.

How to Apply Online

Here are some additional details about the scheme:

• Visit the Insurance Pool’s website.
• Press ‘Subscribe Here’ for registration.
• Select your employment sector. Enter personal details such as ID, phone number, and verification code via SMS.
• Choose payment interval. It can be monthly, quarterly, bi-annual, or annual. Type your email.
• Go to the payment page and complete registration.

The scheme covers employees in the federal government sector and private sector, which are divided into two categories.

Category A

Category A covers people with basic pay of AED 16,000 or less. Employees in this category pay AED 5 per month as a premium. They will get AED 10,000 per month for up to three months if they lose their job.

This category has a limit of AED 30,000 ($8,169) with the same amount of premium.

Category B

Category B covers people with basic pay over AED 16,000. Employees in this category pay AED 10 per month as a premium. They will get up to AED 20,000 per month in compensation for up to three months after losing their job.

The compensation limit in Category B is AED 60,000 ($16,338) with the same amount of monthly premium.

Via Arabian Business