One of the requirements for hiring a domestic helper is that you need to buy a maid insurance – which is mandatory.

A good plan can help you give protection to your dependable helper especially since they are the one taking care of our homes. Additionally, it ensures that they are taken care in case something happens. As long as your helper is protected by the best policy, you can be assured that they are always in good hands.

If you don’t know how to choose an insurance in Singapore for your worker, don’t worry. We featured the best insurance plan for your maid or foreign domestic worker (FDW) and a comprehensive guide that can help you in your hunt for the best insurance policy.

1.Take note of the basic coverage.

Based on MOM, employers are required to purchase an insurance plan for each foreign worker they have. The insurance details need to be submitted online before the Work Permit can be issued.

Medical insurance of at least $15,000 per year for each FDW. This policy must be maintained throughout her stay in Singapore. The policy must cover inpatient care and day surgery which includes hospital bills for conditions that may not be work-related.

Personal accident coverage must have a sum assured of at least $60,000 annually. This must cover sudden or unforeseen or unexpected incidents resulting in permanent disability or death. This is essential to protect your helper and helper, especially in the case of permanent disability or passing away due to accidents. This compensation is payable to your helper or her beneficiaries.

Additionally, MOM is requiring a $5,000 security bond for each foreign domestic worker you employ. So, it’s a must to look up also when you are buying the main insurance plan.

A co-pay arrangement can also be considered with the work permit holder only if:

• Medical treatment is not work-related inpatient expenses
• Reasonable co-pay amount which must not exceed 10% of your FDW salary.
• Co-pay duration will not exceed 6 months
• The co-pay arrangement is indicated in the employment contract or a collective agreement and must have a worker’s consent.

2. Be aware if your helper has a pre-existing condition.

By knowing your helper’s pre-existing, you can consider plans that can cover your helper’s pre-existing condition. Also, you can identify the plans that can’t cover his/her condition.

3. Check if the basic coverage is enough.

As required by the MOM, most employers may assume that the basic coverage is enough. In most cases, it may be insufficient. It’s essential that you have identified your needs.

You must check each insurer’s add-on, some of it is affordable and can give you more savings in the future. Most policies may include the following key benefits:

• Domestic Helper’s Liability
• Replacement Maid Expenses
• Repatriation Expenses
• Daily Wages and Levy Reimbursement
• Outpatient Expenses
• Domestic Helper’s Personal belonging
• Theft

4. Identify your needs and consider what are those elements that are not covered.

Like other insurance plans such as travel insurance or car insurance, there are certain elements that are not covered such as psychiatric, venereal diseases, pregnancy, and suicide-related expenses. Although there’s an array of reasonably priced insurance plans. It is best to check for those policies that will meet your needs. You may also seek insurance policies with high outpatient coverage. This will cover the cost of medical treatment due to accidents.

5. Check if the insurance policy covers dengue fever and malaria.

Most of the insurers do not cover it, so you must find a plan that specifically covers those conditions.

How to Choose for the Best Maid Insurance Plan?

Choosing from dozens of insurance policies for your domestic helper especially if it’s your first time can be overwhelming. Although buying an insurance policy from an agency can be easier, keep in mind that it’s always not ideal for you. You may end up paying more than getting some savings.

Going online and comparing the best maid insurance plan is the key to saving money and getting the best policy. Why? By getting insurance from agencies, you’ll be paying for middlemen fees and commissions which implies additional costs that you can pay. This is why it’s a smarter decision to buy directly fromcompanies.

Choosing an ideal plan for the first time can be confusing. Not only that you’re dealing with a total stranger that will take care of your home while you are away, but also, you are also facing an array of maid insurance policies. Picking the right one can be tough and might stress you out or give you headaches.

We have top tips that can help you in coming up with a smarter decision.

Pick depending on the duration.

In Singapore, there are 2 durations for a policy that you can use – the 14 months and 26 months. Not sure which plan is best for your foreign domestic helper? Start by opting for a 14-month policy. If you want to get a cheaper plan that can give you more discounts, a 26-month can be ideal for you.

Choose based on the suited tier.

Most of the maid insurance plans in Singapore are generally divided into 3 tiers – the basic, the mid, and the top tiers. If your main consideration is the price, you have to consider this factor. This will be based on price and coverage.

The general rule that you must take note here is that the higher the tier – the bigger the coverage but it entails a much higher cost than the lower tier.

Here are the 3 most common tiers that you need to look at:

• Basic Tier – If you’re budget conscious and you’re willing to give up that extra coverage that is more expensive – this is the recommended option for you. On average, most of the basic plan will just cost about $260 for a 26-month policy which will only cost about $10 per month.
• Mid-Tier Plan – If you’re a kind of person looking for the best value for your money such as an affordable plan with wider coverage than the basic tier – you will love the mid-tier plan. The average cost for this type of plan is about $320 for a 26-month policy – just $12.30 a month. In the case that your helper falls sick which ends up in hospitalisation and can’t work – up to $30 per day in wage compensation will be covered up for you. Aside from that, the insurance can cover his or her medical bills.
• Top Tier Plan – Being on top also implies that this plan is the most expensive than the other tiers but this has the widest coverage – plus expect for a much higher pay-outs. On average, for a 26-month policy, this will cost about $360 – about $14.40 monthly.

If you’re looking for extra coverage such as protection for theft, a top-tier insurance plan is an ideal policy for you.