By In this article, we are going to discuss what are the things that maid insurance covers in Singapore. Also, we are going to discuss the benefits of taking this coverage policy, what is the required security bond.
How to choose the best maid insurance?
Best maid insurance Singapore is where you will find all the different kinds of coverage of expenses. This means that this insurance policy will cover the expenses which have occurred after you have been employed. These expenses usually occur when a maid has come to your home for work, which is her job. It is also mandatory by the Ministry of Manpower (MOM) that you should have certain things in the policy.
They will first check the policy to see if it meets the requirement, and then they will allow it. If the policy is allowed, that means approved, then you can appoint the maid. Also, an employer must take an insurance policy if the maid is from a foreign country. This means that this policy is going to cover all the expense which would have to face in the future.
Also, if the term of the policy is over and the money is returned, it should be used in another policy immediately. The employer should not keep that money for himself or his daily use. This is a common case that happens when someone appoints a maid and takes insurance for them. This is the only policy that will cover all the medical and health expenses of the maid.
This is one of the only policies in the market whi9ch has a combination of multiple covers. It covers different expenses like medical, hospitalization, surgery, liability, repatriation, etc. The Ministry of Manpower has made it compulsory for these things to be included in the policy.
- You have to include $60,000 as personal accident cover.
- There should be a hospitalization cover of $15,000 every month
- You should take a security bond of $5000 for the benefit of the maid.
Is the compulsory coverage enough?
This is a very common question, as in most cases. This is not the thing. That is because sometimes the people who take the base maid insurance policy are in trouble. That is because the policy is taken for less amount and the expense is very high.
The compulsory things are decided by the MOM for the benefit of the employer and the maid. That is because this amount will cover the expenses that occur for the maid.You can also take policy to add on’s if you think that your policy is missing out on something.
The minimum amount may not always be suitable for any situation, so it is safe to take a mid-tier plan. Add-on will increase the amount of your policy and can save you from extra loss. Most of the covers are done by the insurance company itself, but you can also put extra things in it. There was a case that happened in Singapore, where the employer took a base-level policy.
The expense was so much that he was in great debt and had to take another loan to fulfil. So it is a good thing to add EasyFind early critical illness insurance in your normal policy. This will help you to pay of ant of the expense that comes when your maid is diagnosed with some disease.
Usually, the big disease takes a lot of money to get treated and also medicines after that. HLAS is an old company and is very reputable in the market because of their skills and dealing methods.
What are the benefits of taking a maid insurance policy?
Here is the list of some benefits that occur when you take a maid insurance policy for your helper.
- This policy will also cover the expense that occurred when the maid damages any of your technology.
- If your maid wants to leave the job, they can do it, and the expenses to find another is covered.
- If your maid is feeling unwell and wants to go to her country, all the expenses are covered in the policy.
- If your maid is in hospital, then her wages are paid by the policy money to her family.
- Outpatient fees mean that the hospital charges are also covered in the policy itself.
- If your maid has done some damage to someone else’s property, it is also covered for.
- Theft will protect your family, belonging, and maid if there is theft at your apartment.
What is the required security bond for a domestic helper?
If your domestic helper is Malaysian, then there is no need for the employer to take a bond for her. A bond is taken for those maids who are from an outside country and have come to work in Singapore.
It is compulsory to take a bond in her name to give her extra security. This bond will be given to her when her term expires, or she has left the job. This money will never be used by the employer and given directly to the maid.
The MOM has made sure that all the maids report the situation every day to the MOM. This will make sure that all the maids are in good condition and are getting treated properly. It is compulsory to take a bond of $5000 under the name of the maid, which is told by MOM.
The bond receipt and the other documents should be shown to the office at the airport. He will check everything and make sure they are in order, then only will he allow the maid to go with them. Otherwise, the officer can book the ticket or send the maid back to his or her country. That is because of the rules and regulations set by the MOM for the maids to work.
When should you buy the bond?
The time decided is three days before the maid is about to reach Singapore. Also, you will have to verify the bond and the other document with the officer.
