In Singapore, all foreign domestic maids’ employers need to acquire maid insurance, which is an insurance plan which encloses any work-associated mishaps and medical levy sustained by your maid. The Ministry of Manpower, MOM, form obligatory that every foreign domestic maid must possess:
- Coverage of S $60000 every year in Personal accident
- S $15000 every year for Hospitalisation coverage
- S $5000 security bond for your foreign domestic maid
The maid insurance Singapore is initiated to safeguard the helper and their family along with a flat-rate remuneration should they agonise from death because of an accident or permanent disability. This flat rate should be owed to your maid or their beneficiaries.
The general structure of Maid Insurance Policy
Generally, most of the insurance companies present either a 14/26-month policy with choices to buy several add-ons or distinct tiers with different cost structures to select from.
Why 26 and 14 months instead of 24 and 12 months? The additional two months of non-chargeable coverage is to insure your housemaid as needed by the MOM for added two months following their work permit expiry, provided their repatriation isn’t immediate.
Most policies shall generally even provide a guaranteed letter for the obligatory security bond of S $5000, as needed by the MOM.
Is the mandatory coverage enough?
As it is obligatory to meet up the fundamental requirements as directed by the Ministry of Manpower or MOM, most of the employers regard this coverage to be sufficient. Nevertheless, this might not be the case always. If you appreciate the following inclusions that do not fetch significantly extra, you may set aside more of your money, eventually, should a mishap occur your housemaid.
Above the pre-requisite obligations, most of the coverage provided by insurance companies like HLAS usually comprise of the following ten key benefits:
- Personal belongings of domestic helper
The insurance company shall generally cover damages to your maid’s personal belongings or theft of laptops, jewelry, and smartphone.
- Repatriation expenses
If your housemaid dies or is permanently disabled, they or their family shall be offered a repatriation payoff covering the journey back to their homeland. This operation can be expensive if uninsured.
- Replacement domestic helper expenses
Replacement maid expenses cover the fees of agency for a replacement must your maid’s services are discontinued because of permanent disability or death.
- Wage compensation
Wage compensation benefit covers your maid’s wages must they be hospitalised and cannot work. These wages are regularly paid for a particular time restricted at a definite limit, based on the policy.
- Third-party liability
Third-party liability offers insurance against all expenses sustained as a consequence of an accidental injury in the body to any third party and unintentional harm to the properties of third parties as enacted by your housemaid.
This benefit safeguards your private and family’s belongings from any theft perpetrated by your maid.
- Outpatient expenses
Outpatient expenses aren’t incorporated in the basic plan as needed by the MOM. Thus, it is vital to realise the amount covered in the occurrence that outpatient treatment is required.
- Hospitalisation expenses
A maid insurance company shall compensate the insured for surgical and hospitalisation expenses that include day surgery sustained in Singapore as a consequence of sickness or/ and accident incurred by your domestic helper during the insurance period.
- Re-hiring or termination expenses
Re-hiring or termination expenses benefit repay you the actual costs sustained for the agency and termination charges employing a replacement housemaid. At the same time, your maid is hospitalised due to permanent disability or death. The substitute domestic helper will require to be hired within thirty days of your maid’s repatriation or end.
- MOM-Insurance Guarantee Bond
The insurance company publishes the Letter of Guarantee for an amount of $5000 on your behalf as a security bond to the MOM. Herewith you won’t require paying $5000 cash in advance to the MOM while you apply for a domestic helper. The insurance company may even precede the letter of guarantee to the POLO when required on your behalf. As an effect that an ultimatum is initiated by MOM or/ and POLO, the insurance company shall firstly make the payment and recuperate it from you subject to the insurance Counter Indemnity system.
Like other insurance policies, there are some established components that maximum insurers shall not cover. Generally, your domestic maid shall not be covered for any suicidal, pregnancy, venereal diseases, and psychiatric expenses.
Furthermore, permanent disability coverage is also restricted to an extent. The reimbursement is based on the extremity of disability that can range from the maid’s hand loss to complete body paralysis.
With most domestic helper insurance plans valued reasonable, it is worth receiving one that you sense best fulfills your requirements. If you acquire the maid insurance with tested credit cards, you shall even enjoy some special rates.
Before enrolling for a domestic helper insurance plan
Do not acquire a plan ahead of taking the time to study the rules, regulations, and conditions of that insurance plan. You wouldn’t prefer paying or signing up for a policy that doesn’t meet your requirements as the house owner. Procedures that are needed to create a claim for maid insurance are very distinct for every plan, so ensure to be conscious of the claim documents need from you to produce an insurance claim. The procedure is different for all the insurers. Thus, they must save all essential documents necessary to demonstrate the claimed authenticity you’re preparing to make.
You can explore more regarding maid insurance, renew online, and save more from HLAS. Don’t forget that the best plan is everything regarding the features which you prefer the most. If you prefer to keep it general and simple, you can select any of the policies that go along with the requirements established by the MOM. Else, you may go with a plan that offers top medical coverage or owns benefits and features that performs for you as well as your domestic helper.