Nowadays, most of the insurers in Singapore offer maid insurances for domestic workers. Maid insurance is the most popular insurance policy that protects you and your domestic helper. If you are from Singapore, then it is mandatory to purchase this policy for your domestic helper’s wellness. By purchasing this, you can save yourself from investing a huge amount of money in case of your domestic helper’s illness and injuries. Hiring a domestic helper in Singapore is quite tough and expensive. So, it is necessary to find a policy that offers good coverage at an affordable rate.
The healthcare industry is a little bit expensive in Singapore. To avoid unnecessary charges, you should make a better plan for the accidents that may happen in the future. Choosing the best critical illness insurance for your domestic helper is quite confusing. So, to discard all your doubts and confusions, you can continue this article till the end. In this article, you will learn about the Maid insurance and the coverage which it should offer.
Introduction to maid insurance
Maid insurance is one type of government required policy that will protect you from losses. If you want to hire a domestic helper or maid for your home in Singapore, you need to buy maid insurance for them. This insurance covers all the accidents which are happened during work. It covers all the medical care charges.
According to the ministry of manpower, the domestic helpers must have a security bond of S$5,000 with hospitalization coverage of a minimum of S$15,000 per year. The insurance is helpful for the helper and his/her family. Talk with the experts and decide which one you should purchase.
When you decided to hire a maid, you have to follow the Ministry of Manpower Singapore requirements. As an employer, you have some responsibilities regarding your helper, and you should fulfill them. It offers comprehensive coverage. If you talk about the policy structure, then in general, most insurance companies offer a 14 or 26 months plan. There are various organizations available in Singapore, specially developed to offer the policies in an affordable range. But if you are buying this policy for the first time, you have to overlook the below discussed things.
Misconceptions regarding Maid insurance:
As you read earlier, maid insurance can cover all the medical costs, but it doesn’t mean that it covers every single type of medical cost. Most of the policies cover the cost of hospitalization. So, if you are thinking of visiting a clinic to diagnose your cold and fever through a maid insurance policy, then it’s your misconception. You can’t claim the maid insurance policy for every single type of program. Some maid insurance covers injury and dental consultation. Other than this, people have some more misconceptions regarding maid insurance policy, which they should need to aware of. So, as a responsible employer, it’s your duty to aware your employee of this.
Things which you should consider while purchasing maid insurance
When you purchase the right maid insurance policy, you should choose the one that covers the repatriation expenses, medical expenses, and other personal liabilities.
- Check the basic coverage:
As per the MOM (Ministry of Manpower), it is required to ensure your maid before the arrival that they are covered by the expenses of medical & accidental issues. The minimum coverage of maid insurance should be $15,000, while for the personal accident, it should be $60,000. Other than this, you can purchase the additional coverage by paying an extra amount. So, it is essential to check the basic coverage before purchasing any policy.
- Compare the different maid policy:
Before buying a maid insurance promotion, you should compare the different policies to choose the best one. There are various plans available that provides enhanced benefits with additional coverage at higher premium rates. So, take your time and choose the policy according to the requirement and budget. Before purchasing any policy, you should think about the outpatient expenses, wage compensation, and third-party liabilities. It is necessary to review the policy one more time before signing the contract.
- The types of coverage:
Before purchasing, make sure about the type of coverage which it should offer. A right maid insurance policy covers outpatient medical expenses in case of various accidents and injury; expenses occur in the hospital during the period of treatment in case if your maid is hospitalized and all.
The hospital expenses should cover the expenses of hospital charges, bed charges, and additional charges. Most of the policies cover pre and post-hospitalization charges. So, before purchasing any policy, read the terms and conditions. By visiting any insurance organization, you can discuss with the financial experts to get the best solution.
- Choose the policy that covers repatriation expenses:
In case if your domestic helper is severely injured and suffers from permanent disability, then it’s your responsibility to take care of them as a human. Most of the policies covered the expenses of the funeral and the body’s return in case of death to his/her home.
- Paid wages:
Some insurance policies will also pay the maid wages during the period of their hospitalization. By purchasing this plan, you will also get coverage of personal liability. If your helper is found to be responsible for damaging someone’s else properties, then the damage claimed against your helper can be minimized.
- Termination of policy:
If you terminate your maid’s service in Singapore before 60 days, you will get a return back of 60% of the amount. But if you cancel your policy before the inception date, you will get a minimum cancellation of $50.
By considering the above-discussed things, you can sign-up for a maid insurance policy. Along with this, you should take time to read the rules and regulations of the organization. Check whether the policy fulfills your requirements or not. You should also aware of the claiming process so that you can claim whenever you need. To get the best policy to choose those who follow the requirements set by the Ministry of Manpower Singapore. So, visit the best organization to purchase a maid insurance policy by browsing on the internet.