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Maid Insurance Coverage You Need to Know

Purchasing maid insurance has been one of the requirements for obtaining a domestic servant’s assistant. This is how to pick the right one for the requirements.

Owners of domestic servants in Singapore are required to get maid insurance, that is, the insurance policy that covers all work-related injuries and medical expenses incurred by the helper.

The Ministry requires every foreign domestic assistant of Manpower to have:

  • Professional liability insurance coverage of S$60,000 each year
  • A minimum of S$15,000 in hospitalization insurance every year is required.
  • The S$5,000 safety bond for the foreign domestic worker

This insurance is designed to provide your assistant and her household with a cash payment if she is permanently disabled or dies as a result of an accident. This one-time payment has to be made to your assistant or her beneficiary.

Maid insurance policy structure in general

Most insurance provider’s offer a 12- or 24-month package with incorporate or multiple tiers having various pricing schemes to pick from. Why 14 & 26 months rather than 12 & 24? The MOM needs the extra two months of insurance (non-chargeable) to protect your assistance for two months following her work visa expire if the deportation is delayed.

The majority of proposals will also include a letter of assurance for such a $5,000 security bond needed by the MOM.

Is mandatory coverage sufficient?

Because it is mandatory to meet the MOM’s prerequisites, most companies believe that this insurance is adequate. This isn’t always the case, though.

If you examine the accompanying add-ons, which are not much more expensive, you could save more of your own money over the long term if your household helper has an accident.

In addition to the prerequisite criteria, most health insurers’ coverage often includes these seven primary advantages.

Advantages –

  •       Personal belongings of domestic worker

Personal items of your domestic helper, such as desktops, smartphones, and jewelry, are normally protected in the event of theft or injury.

  •       Expenses for a replacement maid

If your household helper’s services are discontinued for the death or disability, this insurance covers the agency expenses for a substitution.

  •       Reunification Expenses 

If the domestic worker becomes chronically incapacitated or dies, their family will get a homecoming payment to cover the cost of returning to their home country. If you are not insured, the procedure can be quite pricey.

  •       Wage Compensation

Your helper’s expenses are covered if she is hospitalized and not able to perform. It is paid on such a daily basis for a set period of time and is restricted at a certain level, based on the policy.

  •       Outpatient Expenses

Hospital expenses are also not included by the basic plan, as needed by the MOM; thus, knowing how much will be covered in the case that offsite treatment is needed is critical.

  •       Third-Party Liability

This covers any costs caused as the result of your household helper’s unintentional physical injuries to a third party or accidental damages to the third party’s property.

  •       Theft

This safeguards your individual/family belongings from theft via the domestic assistant.

The new coronavirus is now covered by a growing number of companies, whether as an extra rider or with no extra cost. As this advantage is pushed out among the multiple services, keep an eye out for it.

Important Exclusions

Certain aspects of critical illness insurance in Singapore, like every insurance plan, are not covered by most insurance companies. Generally, any mental, sexual disease, delivery, or suicide-related charges would not be covered by your household helper’s insurance.

Furthermore, permanent disability insurance is also based on a scale. The amount of money paid out is determined by the severity of such a condition, which can vary from the loss of a limb to entire body immobility.

Given the low cost of most maids’ health plans, it’s worth shopping around for the one that best suits your requirements. You can also qualify for reduced pricing if you purchase the coverage with specific credit cards.

What is the easiest way to find the greatest maid insurance policy?

Purchasing maid insurance via a maid company is the most convenient option for any owner who is employing domestic workers for the first time. Nevertheless, the agency’s suggested insurance plan may not necessarily be the best option for you.

Throughout the marketplace, maid insurance policies are available in two lengths: 14 & 26 months. Whether you’re unsure about what’s ideal for you & your domestic servants’ helper, start by purchasing a two-year insurance package. However, purchasing a 26-month package may be less expensive, and you’d be eligible for further benefits.

If budget is a big consideration for you, the article will help you uncover the finest maid insurance discounts and packages. Aside from promotions, there are other criteria to follow. Many maid insurance policies are divided into three levels (mid, basic, and top tiers) based on pricing and protection level. In general, the greater the level, the better the coverage.

Basic Tier: If you’re on a tight budget and don’t mind foregoing the additional insurance offered by the more costly insurance policies, this is the package for you. For the 26-month insurance, most normal plans cost roughly $265, or around $10 each month.

Mid-Tier: As they provide more coverage at a lower cost, mid-tier plans frequently provide the cheapest deal for the money. For such a 26-month coverage, average rates for the mid-tier coverage are roughly $320, or roughly $12.30 per month. If your foreign domestic assistant becomes sick and has to go to the clinic, you will be reimbursed for approximately $30 each day in wage reimbursement. Furthermore, her medical expenses will be covered by the insurance.

Top-Tier: Highest level maid insurance plans often provide the most coverage and compensate the most money. The majority of top-tier policies cost roughly $350 for just 24-month insurance, or around $15.40 each month. If loss coverage is important to you, search for a top-tier insurance plan with a large payoff.

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