The introduction of an Unemployment Insurance Scheme in the UAE from 1st January 2023 has been welcomed with open arms by locals and expats alike. The scheme was announced recently by the country’s Ministry of Human Resources and Emiratization (MoHRE) and is open to both UAE nationals and residents who work in the federal government and private sector.
 
It is hoped that the Unemployment Insurance Scheme will encourage businesses in the UAE to invest more heavily in achieving a competitive knowledge economy by attracting and retaining the best international talent.
 

What is the Unemployment Insurance Scheme?

 
This initiative aims to create a low-cost job safety net that supports employees in their professional journey, will provide up to three months of financial aid for unemployed citizens in the UAE. This income should cover essential expenses such as rent payments and basic necessities, allowing those affected to make ends meet while they look for employment opportunities in the country.
 
The Insurance Pool, which is represented by Dubai Insurance, is responsible for providing the insurance service.
 

Who Can Benefit?

 
Anyone who loses their job in the UAE as a result of termination of services (except for disciplinary reasons or resignation).
 

Which Sectors Can Apply?

 
Both government and private sectors.
 

How Many Months Does It Cover?

 
Maximum three months.
 

Where Can I Subscribe?

 
According to the official Emirates news agency, WAM, residents can visit www.iloe.ae or download the ‘iloe’ smart app. For more information, the Insurance Pool call centre at 600599555.
 
The Ministry of Human Resources and Emiratisation has also signed nine local insurance companies to set up the programme’s framework. The list includes:
  • Dubai Insurance Company
  • Abu Dhabi National Insurance Company
  • Oman Insurance Company
  • Al Ain Ahlia Insurance Company
  • Emirates Insurance Company
  • Orient Insurance
  • Abu Dhabi National Takaful Company
  • National General Insurance Company
  • Orient UNB Takaful Company
 

What is the Subscription Fee & Return Payment?

 
The subscription fees depend on the employee’s basic salary.
 
First Category: Employees with a basic salary of AED16,000 or less will have to pay a fee of AED 5 per month (AED 60 annually). They are eligible for a monthly cash compensation reaching up to AED 10,000 in case of unemployment.
 
Second Category: Employees with a basic salary of AED16,000 or more will have to pay a fee of AED 10 per month (AED 120 annually). They are eligible for a monthly cash compensation reaching a maximum of AED 20,000 in case of unemployment.
 

How is the Subscription Paid for?

 
The insurance fees can be paid monthly, quarterly, once every six months, or annually. The insurance compensation is calculated at a rate of 60 percent of the employee’s basic salary in the last six months prior to his or her unemployment.
 
The compensation should be paid within two weeks from the date the claim is submitted. The value of the insurance policy is subject to VAT.
 

What is the Requirement to Submit an Insurance Claim?

 
The insured must be subscribed for at least 12 consecutive months to be eligible for a cash compensation. However, they would lose the right to claim the compensation should they leave the country or take up a new job.
 

Who is Not Eligible?

 
  • Investors
  • Business owners who own and manage their business themselves
  • Domestic workers
  • Temporary Contract Employees
  • Juveniles under the age of 18
  • Retirees who receive pension and have joined a new employer

Comment as a guest.

Related News

Dubai Tenants Can Now Pay Rent Through Direct Debit Instead of Cheques

Dubai Tenants Can Now Pay Rent Through Direct Debit Instead of Cheques

02 - Feb News

Dubai is revolutionizing rent payments with the launch of a new Direct Debit Sys...

 UAE President Declares 2023 as the Year of Sustainability

UAE President Declares 2023 as the Year of Sustainability

23 - Jan News

The UAE President, HH Sheikh Mohamed bin Zayed Al Nahyan, has recently announced...

Dubai Recognized As Top Global City For Relocation

Dubai Recognized As Top Global City For Relocation

12 - Jan News

Dubai is a top global city to relocate to, according to the latest research con...

 Dubai Land Department Launches New Strategic Plan 2026

Dubai Land Department Launches New Strategic Plan 2026

27 - Dec News

Dubai Land Department (DLD) introduced a new strategic plan an...

Dubai Ranks 2nd Best City Globally for Expats in 2022

Dubai Ranks 2nd Best City Globally for Expats in 2022

07 - Dec News

According to the latest survey conducted by InterNations, an expat community, Du...

 Dubai Real Estate Transactions Exceed AED 30 Billion in November 2022

Dubai Real Estate Transactions Exceed AED 30 Billion in November 2022

01 - Dec News

Dubai Land Department (DLD) reported a staggering AED 30.80 billion in real esta...

November Monthly Transactions Ending 25th

November Monthly Transactions Ending 25th

28 - Nov News

In the month of November, from the 1st till Friday 28th, there were: A total o...

Dubai rents are about to undergo a significant change due to new pricing procedures

Dubai rents are about to undergo a significant change due to new pricing procedures

25 - Nov News

  There has been a new update! The amount that building owners and landlor...

D&B Properties Wins Runner Up for Best Quality Brokerage of 2022 Award by Property Finder

D&B Properties Wins Runner Up for Best Quality Brokerage of 2022 Award by Property Finder

10 - Nov News

D&B Properties ranked in the runner up position in Property Finder’s a...

 Dubai Realty Transactions Exceed AED 12 Billion in November Week 1

Dubai Realty Transactions Exceed AED 12 Billion in November Week 1

07 - Nov News

Dubai Land Department (DLD) reports a staggering AED 12.9 billion in real estate...

   Masks no more! The UAE lifts mandatory mask rules in public

Masks no more! The UAE lifts mandatory mask rules in public

29 - Sep News

 It’s happy days for UAE residents, as after a long two years, the p...

 Dubai Records Over 17,000 Registered Holiday Homes

Dubai Records Over 17,000 Registered Holiday Homes

09 - Sep News

The Department of Economy and Tourism in Dubai revealed that the number of holid...

  Dubai records over AED 4.67 Billion in real estate transactions week ending Friday 12th August

Dubai records over AED 4.67 Billion in real estate transactions week ending Friday 12th August

12 - Aug News

 Dubai records over AED 4.67 Billion in real estate transactions on Friday...

 UAE Issues New Law to Regulate Real Estate Transactions

UAE Issues New Law to Regulate Real Estate Transactions

09 - Aug News

In a pioneering move to strengthen transparency and position the country amongst...

   Overview of weekly real estate transactions for the week ending 5th August 2022

Overview of weekly real estate transactions for the week ending 5th August 2022

08 - Aug News

A total of 2,247 real estate transactions worth AED 5.3 billion were conducted d...

A total of 1,946 real estate transactions worth AED 4.98 billion were conducted July Week 3

A total of 1,946 real estate transactions worth AED 4.98 billion were conducted July Week 3

22 - Jul News

A total of 1,946 real estate transactions worth AED 4.98 billion were conducted...

Dubai Passes New Legislation to Encourage the Expansion of Real Estate Investment Funds

Dubai Passes New Legislation to Encourage the Expansion of Real Estate Investment Funds

22 - Jul News

On Tuesday, Dubai unveiled a new law designed to encourage the development of r...

Total of 1,190 Real Estate Transactions Worth AED 3.01 billion Accumulated in Week 3 July 2022

Total of 1,190 Real Estate Transactions Worth AED 3.01 billion Accumulated in Week 3 July 2022

15 - Jul News

A total of 1,190 real estate transactions worth AED 3.01 billion were conducted ...

Dubai Renames District 2020 to Expo City Dubai

Dubai Renames District 2020 to Expo City Dubai

22 - Jun News

In an official announcement, the repurposing Expo 2020 site is renamed from Dis...

 Real Estate Transactions June Week 2022

Real Estate Transactions Exceed AED 8.7 Billion in June Week 2

10 - Jun News

The real estate and property transactions were valued at AED 8.7 billion in tota...

   Realty Transactions on June 2022

Dubai Records AED 1.37 Billion Worth of Realty Transactions on June 2

03 - Jun News

Dubai Land Department reported a staggering AED 1.37 billion in real estate prop...

 Dubai Real Estate Transactions

Dubai Real Estate Transactions Exceed AED7.2 Billion in May Week 3

20 - May News

A total of 2,043 real estate transactions worth AED 7.2 billion were conducted d...

 UAE President HH Sheikh Khalifa

UAE President HH Sheikh Khalifa Passes Away, Aged 73

13 - May News

UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has passed away on...

Dubai Ranked Number One Globally in Attracting Foreign Direct Investment Projects

Dubai Ranked Number One Globally in Attracting Foreign Direct Investment Projects in 2021

09 - May News

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and...

 Dubai Real Estate Transactions Total 7.8 Billion in April Week 2

Dubai Real Estate Transactions Total 7.8 Billion in April Week 2

15 - Apr News

A total 1,968 real estate transactions worth AED 7.8 billion were conducted in D...

 Dubai and Abu Dhabi to Impose a Plastic Ban Starting July

Dubai and Abu Dhabi to Impose a Plastic Ban Starting July

11 - Apr News

In a move to reduce the consumption of single-use plastic items and encourage th...

 Dubai Realty Transactions Total AED 5.3 Billion in April Week 1

Dubai Realty Transactions Total AED 5.3 Billion in April Week 1

08 - Apr News

A total 2,012 real estate transactions worth 5.3 billion in total were conducted...

 ERC Supports Ramadan Programmes in 64 Countries

ERC Supports Ramadan Programmes in 64 Countries

11 - Apr News

The Emirates Red Crescent (ERC) supports its Ramadan programmes in 64 countries ...

Museum of the Future

AN ARCHITECTURAL MARVEL: MUSEUM OF THE FUTURE

23 - Feb News

The inauguration of Museum of the Future has been the high talk of Dubai, with H...

  Entrepreneurship: In Talks with Steven Bartlett and Husni Al Bayari

Entrepreneurship: In Talks with Steven Bartlett and Husni Al Bayari

07 - Mar News

With the magnitude at which the modern world is progressing as to technological ...

  D&B Properties Women's Day Panelists Deliver Key Insight

D&B Properties Women's Day Panelists Deliver Key Insight

06 - Mar News

D&B Properties hosted an in-house Women's Day panel on 4 M...

 Legalized in Dubai: Bitcoin Transfer, NFT's, and More

Legalized in Dubai: Bitcoin Transfer, NFT's, and More

14 - Mar News

Dubai has been nothing short of innovative and advanced in its capacity to wield...

RTA Launches Two New Marine Lines

RTA Launches Two New Marine Lines

14 - Mar News

Dubai’s Roads and Transport Authority (RTA) has launched two marine transp...

D&B Properties Joins Emirates Red Crescent Ramadan Programme to Aid Millions

D&B Properties Joins Emirates Red Crescent Ramadan Programme to Aid Millions

18 - Mar News

D&B Properties is among the many firms collaborating with the Emirates Red C...

Saudi Arabia Wins Best Pavilion Award at Expo 2020 Dubai

Saudi Arabia Wins Best Pavilion Award at Expo 2020 Dubai

21 - Mar News

The Saudi Arabia pavilion at Expo 2020 Dubai was endowed with the 'Best Pavilion...

Dubai Property Transactions Total AED 6.8B in March 2022

Dubai Property Transactions Total AED 6.8B in March Week 4

25 - Mar News

The real estate and properties transactions valued at AED6.8 billion in total du...

 A New UAE Legislation Approves Crowdfunding Practices

A New UAE Legislation Approves Crowdfunding Practices

28 - Mar News

In March 2022, Dubai government approved the establishment and practice of crowd...

Dubai Real Estate Transactions Exceed AED 22 bn in March 2022

05 - Apr News

Dubai Land Department (DLD) reports a staggering AED 22.55 billion in real ...

 Emaar Rejoices In 209 Percent Increase In Highest Ever Sales in 2021

Emaar Rejoices In 209 Percent Increase In Highest Ever Sales in 2021

18 - Feb News

In a groundbreaking record, Emaar Properties achieves the highest ever sales per...

  Dubai Initiative Provides Free Water Refills Across City

Dubai Initiative Provides Free Water Refills Across City

18 - Feb News

An initiative launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al ...

 Dubai Wins World's Most Popular Destination

Dubai Wins World's Most Popular Destination

14 - Feb News

The world's tallest skyscraper, the world's highest infinity pool, the world's l...

  Dubai Records AED 1.1 bn Worth of Realty Transactions on 5 April

Dubai Records AED 1.1 bn Worth of Realty Transactions on 5 April

06 - Apr News

Dubai real estate market recorded 336 sales transactions worth AED995.74 million...