The deadline for compulsory unemployment insurance in the UAE is fast approaching. Individuals who fail to sign up by the deadline will face fines of AED 400. BOTIM users can now use the platform to easily access and sign up for Involuntary Loss of Employment (ILOE). This strategic move aims to increase accessibility and convenience for subscribers, while ensuring compliance with government regulations.
Abdallah Abu Sheikh, Founder of Astra Tech and CEO of BOTIM, said, “Launching the important government service of ILOE within our BOTIM ecosystem is a natural progression in line with our strategic partnership approach. Staying true to our mission of simplifying users’ daily lives, this move brings us closer to creating a comprehensive ecosystem that fosters a harmonious synergy between the government, public and private sectors – a perfect reflection of the UAE’s national agenda.”
BOTIM users can now subscribe to ILOE insurance through a simple process:
Open the BOTIM app: Users can access the ILOE subscription service directly from the BOTIM app.
Select ILOE insurance: Navigate to the “Explore” page within the app and select the “ILOE Insurance” option.
Enter information: Users will need to enter their Emirates ID details and a valid email address. The app will then automatically categorise them based on their registered employment details.
Make the payment: BOTIM offers several integrated payment methods within the app, ensuring a hassle-free payment process.
Abdellatif Abuqurah, CEO of Dubai Insurance, said: “We are delighted that BOTIM, one of the leading fintech apps in the UAE, has joined the channels of the Involuntary Loss of Employment Subscription. This will allow the workforce in the UAE to have access to a multi-functional app that provides all the necessary services that a person needs on a daily basis, and to subscribe to the mandatory insurance scheme, the Involuntary Loss of Employment (ILOE), in a seamless user experience.”
In addition to providing easy access to ILOE insurance, BOTIM is also offering a one-month VIP membership to incentivise subscriptions, making it a compelling choice for UAE residents and Emiratis across various sectors, including government, free zones and private companies.
Qualified employees who enrol in the UAE’s unemployment insurance scheme will receive a monthly cash benefit equivalent to 60 per cent of their average basic salary in the six months prior to losing their job. This financial assistance is provided for a maximum of three months, provided that the individual has been paying contributions for at least 12 months prior to claiming the benefit.
Who is exempt from UAE unemployment insurance?
There are exemptions to unemployment insurance in the UAE, and the following groups are not required to take out insurance:
- Investors who own the companies where they work.
- Domestic workers.
- Temporary contract workers.
- Young people under the age of 18.
- Retired people who are entitled to a pension and have taken up a new job.
