There are strict rules and regulations which you should follow when you are living there. According to the government of Singapore, the rules are developed for the wellness and safety of people. If you violate any of the rules, then you have to pay an amount as a fine or goes from legal action. Maid insurance policy is one of them.
Most of the people in Singapore hire a domestic helper to help them with their daily household chores. The Singapore government made it compulsory to buy maid insurance online Singapore that protects the employers and the maids. But while choosing the best policy, you have to be cautious regarding the coverage it offers and its price. To learn more, follow the below-discussed terms related to the maid insurance policy.
Is it mandatory to purchase?
Buying a maid insurance policy is mandatory as per the Singapore Ministry of Manpower. As per the Ministry of Manpower, you should buy a maid insurance policy covering payouts against accidents. A maid insurance policy protects you against unexpected expenses. Most people still don’t aware of its terms. They need awareness regarding how to choose the agency and when to buy critical illness insurance. As an employer, you should know about the basic coverage you should offer to your maid according to MOM rules.
According to MOM, a basic maid insurance policy should include compensation regarding personal accidents of $60000. It should cover the medical insurance up to $15000. It should cover the hospitalisation charge and daycare charges in Singapore. Along with this, you should receive a security bond of $5000 that will be offered by the insurer. But is this sufficient for your maid?
Well, no, it’s not sufficient, but yes, it offers basic support in case of emergencies. There are various add-ons, facilities, or policies which you can add and customise your policy. Many companies also offer Repatriation expenses, third parties liabilities, and coverage against theft and wage companionship. They offer these add-on policies to be in the race of getting revenues in their business.
If you are a full-time job holder and you don’t get enough time to take care of your home behind you, then hiring a maid is the best solution for you. With the best maid insurance policy, you can also protect yourself from the expenses that come on your way. Besides investing your money in unnecessary things, it is better to invest in the right thing. By providing this insurance policy to your maid, you can assure them that they are in safe hands. If you don’t know anything about this policy, then continue this article.
You can buy a policy as per your requirements and budget. You can buy the basic plan from the leading organization if you are looking for a lesser amount of coverage. But if you need an extensive amount of coverage with an affordable solution, you need to buy the mid-tier and top-tier plans. Well, each plan has its advantage and disadvantage. To learn about the advantage, let’s move to the next section.
When you buy the right policy, then you will get the extensive benefits as discussed in the below sections:
- Get Repatriation expenses:
As an employer, you should be conscious of your maid’s health and his/her family. If your helper is permanently disabled or dies because of accidents at the workplace, then the maid’s family will get the repatriation amount. Domestic helper’s personal belongings: When your policy covers this facility, you will also get coverage if any theft or damages occur. It covers personal belonging that includes laptops, smartphones, and jewelry, etc.
- Get Wage compensation:
If your domestic helper is unable to work or is hospitalized because of critical illness, it covers the helper’s wages. It also covers the replacement maid expenses in case of permanent disability and death.
- Get outpatient expenses:
The outpatient expenses are not included if you purchase the basic tier. To get this facility, you have to purchase the premium ones. Similarly, you can also offer a policy to cover third-party expenses. If there is any accidental damage to the third party property, then it can cover the expenses.
- Get coverage from thefts:
If you are concerned about your family and their safety, you should purchase the maid insurance policy that offers coverage on thefts. By this, you can protect your properties.
- Save money:
The best part of buying a maid insurance plan is that you will save your money from future accidents. By purchasing this, you can get higher coverage at lower risks. To get all the above-discussed advantage, you should choose the right policy.
Choose the right policy
If you want extensive benefits, then before buying any plan, consider a few things. Before purchasing, Check the basic coverage of any maid insurance policy and whether it is enough for your maid or not. While choosing any policy, you should consider the requirements of your maid. Identify your needs and then consider the things which are not there in your policy. You can customize it by discussing it with the insurer.
To purchase a maid insurance policy, pick an ideal duration, or you can choose according to the tires. Choose a plan based on your lifestyle and your current living conditions. Check the documents which it needs and also check the process of claiming. Take your time to read each point of your policy carefully, and then take any decision. After fully understanding a policy, you can go for it.
Many insurers are available in the market that forces you to purchase the maid insurance policy from their organization. But if you want to invest your money on the right platform, spend some time researching the companies. Secure yourself and your maid from the accidents that may happen in the future. Choosing a maid insurance policy is tough, but it could be easy for you when you follow the above-detailed steps. So, visit a trusted site and get a policy that can minimize your pressure.