Buying an insurance policy is always beneficial. There are different types of insurances like car insurance, life insurance, critical illness insurance, etc. In Singapore, people also take travel insurance. Among them, maid insurance is vital and compulsory.
Compulsory maid insurance
Any employer in Singapore keeping a foreign domestic maid has to buy maid insurance.
It has been made compulsory by the Ministry of Manpower or MOM. And according to their recommendation, there are three mandatory insurance policies that the employer must buy.
- Insurance for personal accidents of S$60,000 per year
- An insurance that will cover the expense of hospitalisation of the maid. I should include the expense of surgery of up to S$15,000 per year.
- A security bond of S$5,000.
Extra benefits that you can get
Apart from these three insurances, many insurance agencies provide some extra benefits as well. These include hospitalisation in case of personal accidents, outpatient medical and dental benefits, rehiring expenses, theft, etc.
Different people have different demands!
Given so many options and benefits from different insurance agencies, a person is sure to get confused. Different people have different priorities. Some may be satisfied with the basic three insurances as MOM has recommended. At the same time, others may want to get more protection.
Key considerations before buying a maid insurance
This article will tell you about the key consideration before getting maid insurance. It will help you to choose the best maid insurance for your foreign domestic maid.
The insurance must cover medical expenses!
Medical expenses can be high. Therefore, when you are buying an insurance policy for your maid, consider buying one that covers medical expenses. It should include clinical visits, dentist fees, physiotherapy, etc. There may arise a need for this in the future; therefore, it is safe to buy insurance that covers these.
- The insurance must cover personal accidents!
A very crucial thing that your maid insurance must cover is the expense of the maid in case of a personal accident. The insurance will pay all the expenses related to the personal accident of the maid. It will also compensate in case of disability of the maid due to the accident.
- The insurance should cover accident death!
In many cases, it is found that the family of the maid remains dependent on her income. Therefore, if, in any case, a maid dies due to an accident, the insurance must cover the right amount. It will help those people who remain dependent on the maid. Thus, the insurance must cover this.
- The insurance must cover permanent disability!
In case a maid faces a disability, the working efficiency of the maid also gets reduced. As a result of this, it may so happen that the employer might not want to pay as much money as they were paying before. Thus, if the policy covers this, it will be able to compensate that money for the maid.
Therefore, it is important to check the policy before taking it. Some agencies do not include this in their insurance policy.
- The insurance should cover all expenses related to hospital and surgery!
All the insurance policy for maids covers all the expenses related to the maid’s hospitalisation and surgery. It is vital, and you must check it before buying a policy.
- The insurance must cover for maid’s belonging!
The personal belongings of your maid may get destroyed or get stolen. In such cases, the insurance policy must cover her lost belongings. Not all policy covers this. Therefore, if you want such insurance, you might have to ask for it from the agency.
- The insurance should cover repatriation expenses!
There may arise a need for sending your maid back home to their own country. Such expenses can be high. Therefore, the policy must cover such expenses. Many policies cover repatriation expenses.
- The insurance should cover liabilities to the third party!
Incurring the cost of bearing the liability to third parties is expensive. The maid policy should cover such expenses.
- The insurance must cover the expenses related to termination and rehiring!
Many agencies provide insurance policies that cover all the expenses related to the termination and rehiring of a maid. If you get such a benefit, you should take it.
- The insurance should cover a special grant
In case of the death of your maid while working for you and her insurance is valid. The insurance will pay for her estate and legal representative. Much insurance cover such special grants.
- The insurance should cover outpatient medical and dental benefits!
If your maid falls sick, the insurance must cover the expense of the medical and hospital bills. It should also cover the bills of the dentist. It is crucial, and you must check before buying the insurance whether this is included or not.
- The insurance must cover the medical expense if your maid is diagnosed with a critical illness!
If your maid is diagnosed with any critical illness or infectious disease, the insurance policy should be able to cover all the expenses related to it.
To sum up
Thus, the points mentioned above are some of the vital things to consider before buying maid insurance. The prices of the insurances vary according to the benefits that they are providing. Low-priced insurance will hardly give you many benefits. In contrast, high-priced insurance can give you almost all the benefits that have been mentioned above.
It is always vital to compare insurances before buying them. For instance, if you are buying critical illness insurance, you will want to buy the best critical illness insurance. One from which you can gain the most benefits.
In the same way, buying the best maid insurance is also crucial and compulsory in Singapore. You can face any problems in the future. These insurances help to reduce your expense in the long run.
Thus do your research carefully before buying them online.