Maid Insurance Singapore: What is it, Who Offers it, And How to Choose the Right One for You
Many insurers now provide maid insurance in Singapore, also called Foreign Domestic Workers (FDW) insurance. Maid Insurance Singapore is a mandatory cover that protects you and your domestic worker from having to pay a large sum of money in case of illness or accident. It also shields you from potentially bad behavior if your maid has a bad reputation. Even though it is an additional cost, it is your responsibility to purchase one for your maid. If you don’t have a maid insurance policy, your maid won’t receive a work pass.
Given the high cost of hiring a housemaid, it’s critical to locate a policy that provides adequate coverage and is within your budget. Unfortunately, picking the right FDW insurance policy can be tricky. Most of the time, even the most informed employers choose the one recommended by the maid company. Unfortunately, they also have no understanding of their maid insurance policy covers, so they don’t know when to file a claim, even if they have the legal right to do so. Here is what you should know about maid insurance in Singapore and the best provider.
Things to consider when shopping for maid insurance Singapore
Before your domestic worker comes to Singapore, you must check that the maid has Personal Accident Insurance, and Medical Insurance, as required by law. According to the Ministry of Manpower, this is an essential requirement. The minimum personal accident coverage is $60,000. Equally, medical insurance, including hospitalization and day surgery, is required at a minimum of $15,000 for any significant accidents that may occur during your maid’s stay. In addition, you might want to add a security bond of $5,000 to your maid coverage that you must submit to MoM, which will be guaranteed by the insurer who sold you the maid coverage.
Consider what features different providers offer in their policy
Aside from the required coverage, greater benefits and additional coverage are available for a greater cost. The majority of the supplementary benefits are payments granted to employers to reimburse them for financial expenses or losses suffered due to unforeseen situations. Consider
Outpatient expenses– If the maid visits a hospital but is not admitted, the insurance company may still reimburse the medical charge. Usually, outpatient expenses are only covered if the injury results from an accident, so are sure you understand when this coverage applies.
Third-party liability– This coverage compensates you if your maid causes harm to a third party, and the third party then sues you.
Theft– If you are a suspicious person, you should look for a maid insurance policy that protects you from theft by the domestic worker.
Wage compensation– this is intended to reimburse you for your maid’s pay so that she can continue to work while recovering from her injuries.
Who is offering the best maid insurance in Singapore?
Etiqa Maid Insurance
Etiqa Maid Insurance is among the most comprehensive maid insurance in Singapore. Medical benefits, personal accident protection, and repatriation expenses are all covered by the policy. If your domestic helper is admitted to the hospital, all hospitalization costs are covered. Etiqa is one of the top maid insurance solutions in Singapore because of this feature. Wage compensation, termination and re-hiring charges, and medical reimbursement are also other benefits of this insurance. If your maid takes something precious from you, you will be paid.
FWD Maid Insurance
Look no further than FWD’s Maid Insurance for maid insurance that contains all of the necessary perks. Accident coverage and medical benefits for your domestic assistant are included in the benefits package. A security bond of up to S$5,000 is also required, paid directly to the Ministry of Manpower by FWD.
Above all, your maid will be eligible for free health coverage that covers pre-existing diseases. In addition, if you need to replace your assistant, you’ll get a full refund if you cancel your coverage within the first three months.
The maid insurance policy offered by MSIG Insurance is among the best in Singapore. Some of the benefits include hospital coverage, personal accident coverage, and alternative domestic help benefit are just a few of the highlights. It is one of Singapore’s best maid insurance policies since it ensures that your maid is compensated even if she is hospitalized for less than 30 days. In addition, MaidPlus will submit a S$5,000 security bond on your behalf to the Ministry of Manpower. If you’re looking for basic maid insurance with many features, MSIG’s MaidPlus is the way to go.
AXA SmartHelper Insurance
It’s impossible not to think of AXA’s SmartHelper Helper Insurance regarding reliable maid insurance in Singapore. Some of the benefits include critical sickness protection, hospitalization cover, personal liability coverage, and e repatriation coverage. One of the great features of this maid insurance is that it covers your maid 24 hours a day, throughout the week, anywhere across the world, except while she is on leave.
You can also choose to add dental treatment, mental care, and other services to your maid’s coverage. Any of these improvements will ensure that your dependable maid is looked after at all times.
Income NTUC Domestic Helper Insurance
Our maids are a massive help in our life. Therefore it’s only fitting that we repay them by giving them the best maid insurance in Singapore, such as Income’s Domestic Helper Insurance. It covers all necessary coverage, including accident and hospitalization coverage, as well as performance bonds. You might select to increase your trusted maid’s coverage if you want her to obtain more advantages. Higher medical coverage and wage compensation for each day your maid is hospitalized are some of these additional benefits.
Maid Insurance & Work permit Renewal Singapore.
One of the best options for maid insurance coverage is Maid Insurance & Work Permit Renewal Singapore. The insurance will provide the best medical and accident coverage for your maid at the best price and under the most flexible terms.