In Singapore, many insurers provide maid insurance as maid insurance has been a compulsory policy in Singapore. It protects one and their domestic worker from paying a considerable amount of money in the hospital charge because of injury and illness. The maid insurance promotion Singapore was made to protect the employer, which also protects one from potential lousy behavior if the bad is less compared to the character of stellar. It has been obligatory on one’s part to have one for the maid with an extra expense. Without a policy, no work passes to provide to the maid.
Hiring domestic workers is a bit expensive. It is necessary to find insurance that provides adequate coverage and be within one’s budget. Having the right maid insurance policy could be confusing, and even the smarter employee mostly go for the agencies as suggested by most maid agencies. Some are not aware of what the maid insurance gets most offers, which means one does not know when to claim even one has the right to do it. Many people from Singapore mostly face health issues that cost a considerable expense. However, few can put on the actual number of its cost and the plan properly for the future events.
Guide for buying the best maid insurance in Singapore
To get a user guide, several points on how to get an excellent policy while hiring the foreign domestic employer for one’s home and family. Before choosing a proper maid insurance plan, it is important to have a proper guide that can benefit the company, which should be providing coverage on the needs of you and your employer.
- Check the basic coverage
It is necessary to ensure the maid gets covered through medical insurance and personal accident insurance before the domestic worker reaches Singapore.
According to the Ministry of Manpower (MOM) requirement, include coverage for the minimum accident should get if one wants to buy a security bond needed to provide the MOM. The insurer guaranteed the one where the maid policy got received.
- Comparison of various maid insurance policy
Besides the mandatory coverage requirement, few plans add more benefits and additional coverage on the higher premium. The additional benefits are the payments that are to employers for compensating them for the financial expenses faced for the loss, which were got sustain from the unexpected circumstance.
- Outpatient expense
If a maid visits the hospital but not got warded, the bill still gets reimbursed from the insurance company. So the outpatient injury mostly covers the injury from an accident. The critical illness health insurance covers health expenses.
- Bond of Insurance Guaranteed
It is essential to have the $ 5000 security bond with MOM. So the insurer must have the policy and provide the guarantee.
- Replacement Expense
It should cover the replacement cost of domestic helper because of any issue, such as death, illness, or other valid reasons.
- Critical Illness
It provides a smaller insurance payout when one suffers from critical illness.
- Third-Party Liability
It means the insurer is compensating the maid’s wages if the maid does something wrong to the third party and can sue you for the situation. The third-party liability helps in covering it.
- Wage Compensation
It meant compensating you based on your maid wages so that the maid could still earn the wage while recovering from the thing which is faced by her.
If one is a distrustful type of person, one needs to look for the maid insurance to protect you and your family’s belongings from the domestic helper’s theft.
- Repatriation Expenses
Your maid insurance should cover the sending expenses of Domestic helper to their home in the event when they suffer from a permanent disability or illness that are costly. So a policy which covers up the repatriation expense should be provided in, or the cost held while cremation or burial of the domestic helper and their body return and ashes back to one’s home country.
Policy Termination if it doesn’t work
If one terminates the domestic helper’s services, one typically receives a prorated amount for the payment of the premium insurance back. In case of cancellation within a day of 60 of getting in-force, one could get back 60% of the amount paid. So doing this type of maid insurance policy benefits one.
Here are a few things that will guide one while choosing the maid insurance policy as it is not easier for one to choose the best and budget-friendly maid insurance plan in Singapore. However, Most of the leading financial institutes provides imperative which one should prefer for. Doing proper research and having a plan that provides the maid or adequate helper security until one exactly knows the kind of insurance will be best for them.
Are you ready to purchase this maid insurance plan:
There are tons of reasons to hire a maid in Singapore. If you are looking for an extra pair of hands to get some help for your everyday chores, then you can hire the right maid insurance policy for your maid. Hiring a maid in Singapore comes has a lot of responsibility. Making a comparison and choosing the insurance policies which are best looking at one’s requirements. So the best policy purchasing need to have proper guidance might take time to know all the conditions, the regulation, and the policy rules. But as one doesn’t want to invest, which is not fulfilling the need of the employer.
One thing is essential that is the best policy requires the features which one prioritises the most. It is also essential to have the policy by following all the requirements set up by the MOM of Singapore. Or else one can choose the policy which provides the highest coverage on medical or features that benefits one’s work for one and their helpers. So, hire the best agency to get the best maid insurance policy to manage your expenses. Talk with an expert, discuss your requirements and then make a choice.