Employee benefits for SMEs in the UAE: protection, savings and health options

Employee benefits are the extras an employer provides on top of salary, such as life cover, savings schemes and health insurance. A small or mid-sized business can build a package from three building blocks: protection, savings and health. HAYAH, a UAE-licensed life and health insurance provider regulated by the Central Bank of the UAE (hayah.com), offers a product for each block.

The three building blocks of an employee benefits package

1. Protection: life and critical illness cover that pays out if an employee dies, is diagnosed with a covered illness or becomes disabled.
2. Savings: a scheme that sets money aside during employment, including for end-of-service benefits.
3. Health: medical insurance that pays for treatment.

An SME does not have to offer all three at once. Many start with the block that matters most to their staff and add the others as the team grows.

Protection: HAYAH Your Employee Protect (YEP)

According to hayah.com, checked on 3 November 2026, HAYAH Your Employee Protect (YEP) offers the following.

• Cover for death, critical illness, and disability due to accident or sickness.
• Extra benefits for loss of income, repatriation and medical reimbursements.
• Priority Screening, a service that delivers medical tests to the home or office.
• Access to 40,000 healthcare partners worldwide through AXA Assistance, aimed at employees who travel.

HAYAH states that the business and the majority of its employees must be located in the UAE.

Savings: HAYAH Your Employee Saver (YES)

HAYAH describes Your Employee Saver (YES) as a way for employers to ringfence end-of-service gratuity liabilities. The employer defines eligibility, savings are held in US dollars, and HR teams and employees each have a secure portal. HAYAH recommends YES for businesses with at least 20 employees.

Health: HAYAH MyHEALTH for businesses

HAYAH publishes MyHEALTH Protect plans for businesses, with a brochure, a benefit schedule, terms and conditions and a group application form on its site.

Questions to ask before choosing a package

1. Which risk would hurt our employees most if it happened tomorrow?
2. Is the provider regulated by the Central Bank of the UAE?
3. Who decides eligibility, the employer or the provider?
4. What do the terms and exclusions say?
5. How do HR and employees see their benefits?

A note on this article

This article is for informational purposes only and does not constitute financial, legal or insurance advice. Plan terms, eligibility and fees change regularly. Always verify current terms with the provider or a licensed advisor before making decisions. HAYAH is licensed and regulated by the Central Bank of the UAE (CBUAE).