UAE employees can now enroll in the Involuntary Loss of Employment (ILOE) insurance scheme via the Botim app. This mandatory insurance program provides cash compensation to subscribers who lose their jobs for non-disciplinary reasons. Fines of Dh400 will be imposed on those who do not subscribe before the October 1 deadline.
Digital Platform Offers Mandatory Job Loss Insurance
The Botim app now makes it convenient for workers in the UAE to enroll in the Involuntary Loss of Employment (ILOE) insurance program. The deadline to enroll in this legally required insurance program, which is open to employees of the federal government, the private sector, and free zones, is October 1. Fines will be assessed if this is not done.
Strategic Partnership to Deliver ILOE Insurance
Astra Tech, a consumer technology holding group, has partnered with Dubai Insurance Company, the manager of the ILOE insurance pool, to offer the ILOE insurance scheme on the Botim app. This strategic collaboration has made Botim the first ultra-app to integrate the government-mandated insurance program. Additionally, the app will provide VIP membership as an added incentive to subscribers.
Simple Three-Step Subscription Process
Subscribing to the ILOE insurance scheme on the app is a straightforward process:
1. Visit the 'Explore' page and select the ILOE Insurance toggle to access the registration page.
2.Enter your Emirates ID number and email address. The system will automatically categorize you based on your employment information.
3. Proceed to the payment gateway to finalize your registration.
Benefits of ILOE Scheme
Subscribers to the Involuntary Loss of Employment (ILOE) scheme are entitled to cash compensation if they experience involuntary job loss. If individuals are laid off for reasons unrelated to misconduct and have been enrolled in the scheme for at least 12 months, they can receive 60% of their basic salary as compensation.
Employees earning a basic salary less than Dh16,000 will be eligible for a maximum compensation of Dh10,000 per month for a duration of up to three months. The monthly premium for this category is Dh5, plus VAT.
Those with a basic salary of Dh16,000 or higher will be entitled to monthly compensation of up to Dh20,000 per month for three months. The corresponding premium for this bracket is Dh10 + VAT per month.
Fines for Late Subscription
To encourage timely enrollment, the UAE government has imposed a Dh400 fine for employees who do not subscribe to the ILOE scheme before the October 1 deadline.
This innovative initiative not only ensures financial protection for employees facing job loss but also simplifies the subscription process through a user-friendly digital platform, reinforcing the UAE's commitment to employee welfare and financial security.
