Ensuring Financial Security for Employees
We are proud to partner with Ras Al Khaimah Economic Zone “RAKEZ” for the Workers Protection Insurance Programme, which ensures the financial security of employees in case a company fails to meet its financial commitments due to insolvency or bankruptcy.
Provided as a part of the employee visa issuance process, this aligns with the federal initiative by Ministry of Human Resources (MoHRE), which ensures insurance coverage for all employees of RAKEZ-registered businesses. This insurance replaces the existing AED 2,000 visa deposit requirement and aligns with MoHRE’s commitment to safeguarding the welfare and well-being of all employees in the UAE.
Insurance Coverage
Coverage and cost of the Insurance linked to the employee's salary are as follows:
Due and Unpaid Salary
End of Service Gratuity
Repatriation Costs to home country
Repatriation of Mortal Remains to home country
Work-Related Injuries
Key Features
Comprehensive Coverage
By covering risks like unpaid salaries, workplace accidents, and other unforeseen occurrences, this plan ensures that employees are supported with the resources they need during critical times.
Enhanced Financial Security
Replacing the visa deposit requirement removes financial burdens from employers during the visa application and renewal phases.
Simplified Process
This change eliminates the visa deposit, streamlining the application and renewal process, making it more efficient for both employees and employers.
Benefits for Employees
Financial Protection
Employees get a safety net offering financial support if an employer fails, letting them focus on work without financial worries.
Peace of Mind
Knowing they are protected by a robust insurance programme, employees can work with confidence, contributing to a more productive and positive work environment.
Improved Well-Being
With coverage for workplace incidents, employees can rest assured that their health and well-being are prioritised.
Benefits for Employers
Financial Protection for Employers
Adhering to mandatory insurance requirements not only ensures compliance with federal regulations but also provides financial protection by avoiding potential penalties and fines.
Optimised Cash Flow
By removing the AED 2,000 deposit requirement, employers can improve their cash flow, reducing upfront costs and easing financial management while streamlining administrative processes.
Enhanced Employee Loyalty
This proactive approach fosters a stronger sense of loyalty and trust among the workforce, as employees feel valued and supported by their employer’s dedication to their welfare.
How to Enroll
Employees are automatically enrolled as a part of the new visa or visa renewal journey with RAKEZ. More information is available on the official RAKEZ website: https://rakez.com/en/workers-protection-insurance-programme
How to Raise A Claim
Seeking compensation for unpaid salaries, end-of-service benefits, work related injuries, or repatriation?
Know more: Claims Handling Process Flow
Submit a Claim Quickly and Easily
Submit a Claim Quickly and Easily
