Maid Insurance Plans Singapore | Top Maid Insurance Plans with High Coverage
Insuranceby Priyadarshini 23 May 2022
Your housekeeper requires safety as well since she holds down the fort at home. The following are the best maid insurance plans in Singapore. If you intend to engage a foreign domestic assistant in Singapore, be aware that you must purchase medical and personal accident insurance, generally known as maid insurance, before she arrives. The objective is to be able to compensate her or her family in the event of a tragedy. Also, this is a Ministry of Manpower (MOM) obligation, and you cannot charge her for it.
Maid Insurance Plans in Singapore
Employers seeking a mid-tier, well-rounded service that is also customizable can consider FWD’s Maid Insurance – Essential Plan. One of its most appealing advantages is its money-back guarantee if you cancel your contract during the first three months. You may essentially “test drive” it for three months at no risk.
Another major selling point is the security bond plus feature. It is the only insurer that pays the security bond (up to S$5,000) to the MOM without requiring you to make any additional payments. Another significant benefit is that the plan includes free medical coverage for pre-existing diseases.
However, the third-party liability coverage begins at the low end, at S$3,000 for the basic plan. This can, however, be expanded to cover up to S$5,000 if desired. Other optional features include cashless outpatient medical charges (above S$10 and up to S$30 for its clinic network alone) and coverage for obligatory medical examinations.
MaidPlus from MSIG is not the cheapest maid insurance package. MSIG, like its other insurance products, is priced at the high end of the market. However, for its above-average price, it provides far above-average value, particularly to the employer.
The normal maid insurance coverages are present, including S$60,000 in personal accident benefits per year, S$15,000 in hospital/surgery expenses each year, S$5,000 in third-party liability coverage, and termination and repatriation charges. However, MaidPlus goes above and beyond by covering replacement maid expenditures (S$500), alternative domestic help benefits if your maid is in the hospital (S$50 per day, above the market norm), and personal belongings coverage of up to $500.
While its standard plan is already extremely extensive from the employer’s standpoint, MaidPlus truly shines in the extra add-ons. Many employers are interested in employer liability insurance, which protects them in the event that their maids sue them. This coverage begins at S$300,000 and can be increased to S$1,000,000. This is an excellent addition to an already employer-focused plan for the liability-conscious employer.
Maid Protect360 from HL Assurance is a wonderful option for the well-meaning employer wishing to maximize the types of coverage available for their maid. It is incredibly adaptable, with four distinct options depending on how much medical and personal coverage you wish to provide.
The standard plan, for example, covers S$1,000 in medical charges and S$30,000 in hospital and operation expenses. These rates rise to S$4,000 and S$80,000, respectively, for the most premium exclusive package. There is also varying coverage for ambulance bills and medical treatment kinds (e.g. physiotherapy). The same is true for personal belongings insurance, which can range from $0 to S$3,000.
The flexible coverage also includes wage compensation and termination and rehiring charges for the employer. These can vary from S$200 and $0 for the basic plan and S$600 and S$60 per day for the exclusive plan.
Enjoy S$15,000 per year. When you acquire the Enhanced Medical Benefit Rider, you will receive COVID-19 Hospitalization Coverage, including SHN and helpers returning from home leave. Valid until May 31, 2022. Terms and conditions apply.
TIQ – Maid Insurance Plans in Singapore
TIQ’s eProtect Maid is a good option. Plan A is one of the most affordable, if not the most affordable, maid insurance plans on the market. This plan may be perfect for you if you need to carefully control all of your costs. Plan A, the most basic plan, covers all of the MOM’s requirements while also going above and beyond in several areas, such as S$5,000 third-party liability coverage, wage reimbursement, and even compensation for alternative maid services (albeit at a much lower amount).
It also includes physical abuse coverage, which pays out up to S$5,000 if the maid violently abuses the employer’s child, disabled person, or senior citizen. You can also choose the somewhat more expensive Plans B and C, which provide better coverage quantities practically everywhere. Employers may also be interested in the optional house cover, which protects you in the event of a fire, burglary, or theft by the maid, as well as hospitalization and surgical expenses coverage if the maid has Covid-19.