Residents in the UAE who were among the first to enroll in the Involuntary Loss of Employment Insurance (ILOE) at the start of 2023 are now receiving prompts to renew their policies.
Messages like “Your ILOE policy is due for renewal on January 2, 2024” are being sent out, urging subscribers to update their information and renew before the expiration date.
Renewal Process and Subscriptions:
Renewal procedures are accessible through the Ministry of Human Resources and Emiratisation’s (MoHRE) digital platforms. The process involves logging in to the account and clicking the ‘Subscribe/Renew Here’ button to complete the renewal.
Enrollment Status and Financial Protection:
Despite 86% of eligible employees having subscribed to the mandatory scheme, reminders emphasize the financial protection offered to early subscribers in case of job loss.
To claim compensation, individuals must have subscribed for a continuous 12-month period. Those who enrolled in January 2023 now meet this eligibility criterion.
The article highlights penalties for non-compliance, including a Dh400 fine for workers who failed to sign up before the enrollment deadline.
Further fines apply for delayed premium payments or late subscriptions by employees whose work permits were issued post-October 1, 2023.
Eligibility for the insurance extends to Emiratis and expatriates in the federal government and private sectors, excluding certain categories such as investors, domestic helpers, temporary contract workers, juveniles, and retirees receiving pensions.
Coverage and Compensation Structure:
The insurance is categorized based on salary brackets, with premiums ranging from Dh5 to Dh10 per month and compensation ceilings varying from Dh10,000 to Dh20,000 monthly.
The compensation, capped at three months, amounts to 60% of the average basic salary over the six months before unemployment, provided termination was not due to disciplinary reasons.
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