If you hire a maid for your place in Singapore, you need to buy an insurance. This is a mandatory rule in Singapore. You are bound to buy personal accidental and medical insurance for the domestic helper.
It is a must to buy this type of insurance before hiring your maid. Purchase medical insurance with the coverage of $15,000 every year. As per Ministry of Manpower you need you are liable to buy maid insurance.
In Singapore, maid insurance is also known as the FDW insurance or Foreign Domestic Workers insurance. This insurance will protect your domestic worker and you from paying a good amount due to any injury or illness. It provides you protection from bad behavior if the domestic worker has a stellar character. In Singapore, the government believes in no policy, no work.
As per the Ministry of Manpower, every domestic helper must have:
- A security bond of $5,000
- A personal accident insurance coverage up to $60,000
- $15,000 hospitalisation coverage (covers surgery expenses)
Insurance is to protect your worker and her or his family. If anything happens during the working hour, they can claim the insurance. Multiple maid insurances are available; to find out the cheapest maid insurance, you can compare the insurance.
How to find the best insurance policy?
Hiring a domestic worker is expensive in Singapore. It is important to get a suitable maid insurance policy that offers you good coverage and comes within your budget. The confusing part is choosing the right maid insurance. You can take suggestions from the maid agency. In Singapore, healthcare is very expensive. So choose wisely.
Just like looking for the best critical illness plan in Singapore, you can search online and compare the best maid insurance. Multiple insurance websites are available where you can get multiple maid insurance options. An owner chooses any of them or can compare and choose the best one that suits your budget. Minimum coverage for the personal accident is $60,000. Minimum medical coverage is $15,000. You can take an additional coverage of $5000.
How to get the best insurance policy?
If you are hiring a domestic helper for the first time, you should know about the insurance you need to take for the maid and their family to ensure safety. You can hire a maid from the maid agency. If you take suggestions from the maid agency, that may not be fruitful all the time. Though it is easy to buy insurance from the maid agency is the easiest thing, but that might not be best for you always. So online would be the best option to find the best maid insurance. It will save you time and money. If you are taking insurance from the maid agency, you have to visit the agency multiple times to sign some papers, so it is wastage of time. Moreover, you do not have to pay the middleman fees too.
People who are taking the insurance for the first time can be difficult and confusing because they do not know what to look for when they take the insurance.
Things to consider before you buy a maid insurance
Most of the insurance companies in Singapore offer you 14- 26 months plan. Every plan has its price structure. Now many people will think about why it is a 14 and 26 months plan? Why is it not a 12 and 24 months plan? Because The Company will give you two months extra coverage as Ministry of Manpower instructs it. Most of the plans offer a guarantee letter for the security bond of $5000.
Check whether the coverage is enough or not.
In Singapore, it is mandatory to fulfill the basic requirement of your domestic worker's insurance. Employers think that the insurance coverage is enough for them, but is it true in real life? If you take the add on, which is not very costly. By this, you will be able to save more money in the long run. Insurance companies will offer you some benefits with this:
- Personal belongings of domestic helpers - Your maid's personal belongings like smartphones, laptops, and jewelry will be covered.
- Wage compensation - The insurance will provide coverage for the domestic helper's wages if she cannot work or get hospitalised. Depending on the policy, there is a certain limit.
- Repatriation expenses - If your maid dies for any reason or is disabled permanently, will be provided the Repatriation expenses. If it is uninsured, the process will be more costly.
- Maid expenses replacement - Provide coverage of agency fees for the replacement of the domestic helper is terminated due to disability or death.
- Outpatient expenses - The outpatient expenses are not included within the basic policy. So you would need to know how much it will provide coverage if the outpatient is required.
Dental benefit and outpatient medical
Check whether the policy provides coverage for Dental benefits and outpatient medical. This means as an employer, you can save more.
As we all know that the maid insurance in Singapore is mandatory. Contact an insurance agent who will give you maximum coverage. During this pandemic, give your domestic helper full coverage against the Covid19, which includes a stay home notice and after home leave notice. Check the policy will offer coverage of malaria, dengue, influenza, etc.
If you are not sure which policy is best for you and get confused about your domestic helper, then go for the 14-month insurance first. But 26 monthly plans will be cheaper and offers you more discounts. Make sure before you buy the policy to go through the guideline first. Insurance plans are classified into three tiers that are basic, mid, and top tiers. Coverage will depend on the price of the policy: the higher tier, the more coverage. Keep your family safe and secure.