A Complete Guide To Maid Insurance

When you have made your mind and decided to hire a domestic helper, there are a few mandate requirements that have been set by the Ministry of Manpower in Singapore. If you don’t have an idea about what maid insurance is, then let us give you some information about it, maid insurance is a type of insurance which protects your domestic worker from paying huge amounts of money because of the injury or illness which they get tied with. Maid insurance can offer comprehensive coverage to you for your domestic worker if they suffer from some illness or injury.

If this is your first time that you have to buy maid insurance then you should be more aware of all the terms and conditions that the plans offer and also you should know your need, according to that you need to choose a good plan for yourself. In Singapore, it is compulsory for the employers, of foreign domestic helpers to buy maid insurance, which is an insurance policy that covers any work-related accidents and medical care charges sustained by the helper. A payout against the premium is meant to protect the helper and her family, with lump-sum compensation is they suffer from permanent disability or death due to an accident. In case of death, this lump sum amount must be paid to the domestic helper’s beneficiary. A good policy could be purchased from a well-reputed insurer, Hong Leong Assurance. So now let us discuss some major points which give a great knowledge of Maid Insurance.

General Policy Structure Of Maid Insurance:

Often, whenever you visit an insurer or gather information about the plans provided by any of the insurance companies, you will find that most of the insurance companies offer either a 14 or 26-month plan providing you with the options to purchase various add-ons or different tiers with varying price structures to choose from. If you have noticed that we are talking about 14 or 26-month plans and there might be a question in your mind that why is it not for 12 or 24 months, right? But this is because of the policies set by the MOM, which says to insure your worker for an additional two months after the expiry of their work permit, in case their repatriation is not immediate. So it is always necessary for you to understand and look for all the terms and conditions of the policies and plans to make sure that it is fulfilling your and your helper’s needs.

Is the Compulsory Coverage Enough?

Compulsory coverage means that the plans need to cover all the compulsory coverage which are set by the MOM, and many of the employers think that the coverage which comes under the compulsory part will be sufficient to fulfill the needs of the helper but it is not the fact, as they include very minimum coverage. If you consider the following add-ons, which do not cost significantly more, you can save more of your own money, in the long run, when an accident befall on your maid.

Except for the compulsory part, most of the coverage offered by the insurance companies like Hong Leong Assurance usually includes these key benefits stated below:

  • Maid’s personal belongings: Theft or damages of personal property of maids like smartphones, laptop and many more will be covered.
  • Replacement Maid Expenses: This coverage covers the agency fees for a replacement if your helper’s services are terminated due to death or permanent disability.
  • Repatriation Expenses: If your maid or helper dies due to an accident or some other incident, they or their family will be provided with compensation which covers a trip back to her home country.
  • Wage Compensation: It covers your helper’s wages if they are hospitalized and is unable to work. It is paid daily for a certain period, which has certain limits, depending on the policy.
  • Outpatient Expenses: These expenses are never included in the basic plan so it is necessary to be aware of this fact and you should choose a plan which provides you coverage of these expenses.
  • Theft: This coverage protects your personal and family’s properties from theft perpetrated by your domestic helper.
  • Third-Party Liability: This provides indemnity against any expenses incurred as a result of accidental bodily injury to any third party as well as accidental damage if caused to any properties of any third party, which may be committed by your domestic helper.

Like all insurance plans, there are certain elements which most insurer will not cover. Like you will not get coverage for your helper for any psychiatric, venereal diseases, and many more such expenses.

Before taking up the maid insurance you need to know any information which includes the above discussion. Hong Leong Assurance is one such prestigious company that provides you with the best sort of maid insurance.