Last Updated on: 26th June 2023, 01:08 am
How To Get Job Loss Insurance Up To $16,300 in UAE
The United Arab Emirates (UAE) introduced an unemployment insurance scheme that provides financial assistance to workers who lose their jobs. The program is open to all eligible employees nationwide and rewards start at just AED 60 (US$16) per month.
Workers who lose their jobs can receive a maximum benefit of AED60,000 (US$16,340) for up to three months. The amount is calculated based on the employee’s average wage.
The regulation is binding for all workers, with the exception of investors, domestic workers, and workers on fixed-term contracts.
There are several ways to apply for unemployment insurance. The preferred channel for most subscribers is the Insurance Pool website, but you can also subscribe via the app, kiosks, merchant service centers, currency exchange, smart banking apps, SMS, and your telecom bills.
How To Apply Online For Job Loss Insurance?
Here are some more details about the program:
- Visit the Insurance Group website.
- Click Subscribe Here to register.
- Choose your industry. Enter personal information like ID, phone number, and SMS verification code.
- Choose the payment interval. It can be monthly, quarterly, semi-annually, or annually. Write your email.
- Go to the payment page and complete the registration.
The program applies to federal public and private sector employees which fall into two categories:
Category A
Category A includes individuals whose base salary is AED 16,000 or less. Employees in this category pay AED 5 per month as a bonus. They will receive AED 10,000 per month for up to three months if they lose their job.
This category is capped at AED 30,000 ($8,169) for the same award amount.
Category B
Category B includes individuals whose base salary is over AED 16,000. Employees in this category pay AED 10 per month as a bonus. They will receive compensation of up to AED 20,000 per month for up to three months after losing their job.
The compensation limit in category B is AED 60,000 (USD 16,338) with the same monthly premium.
Also Read: How To Change or Update Personal Information On Emirates ID