10 Situations Where Maid Insurance in Singapore Can Help You
The estimated number of foreign domestic workers work in Singapore is nearly two lakh and fifty thousand as per the Ministry of Manpower. A considerable number of domestic workers work for the houses in Singapore, and they need proper insurance and security for their health. Most of them come from Indonesia and the Philippines and some parts of India, Sri Lanka, Bangladesh, Myanmar, and Thailand.
Why They Come to Work in Singapore?
A vast number of domestic workers work to support their families. Most of their income goes to help their children in studies, a better future for their brother or sister so that the family can pay the bills and live a good life. It takes a lifetime for them to save something after giving away most of the income. When they return to their own countries, they start a business with these savings or live a better life. In the case of the Economy, Singapore is much more advanced and stable. Here people from other countries can make more money compared to their country.
Domestic workers were paid less for these reasons, which eventually ceased their revenue growth, and there was no benefit in coming and working in Singapore. We should properly treat domestic workers as they are helping us in our household works, which you cannot do as you’re out of the home. Work at home and outside work is equally essential, and the benefits should be the same. We should never pay less or skip their insurance; it is for their help and your financial help. The domestic workers also have families and their own lives to look after, and the only income is coming from their employers. So, their employers should pay them properly.
Why Is It Compulsory to Buy Insurance for Workers?
Like all ordinary people, domestic workers also face accidents. For that reason, the Ministry of Manpower made it compulsory for all the employers in Singapore that they should make insurance for their domestic workers. The basic insurance plan covers any kind of injuries or accidents which are work-related and occurred while working; also, it includes entire medical charges of the domestic helper. This Maid Insurance Singapore is a nominal help for the domestic worker’s family and her treatment.
Different Types of Insurance Plans
Now let’s talk about different types of policy structures of insurance for domestic workers. There are four kinds of policy structures based on the economic situation of the citizens of Singapore. First, let’s talk about the necessary policy structure; an insurance policy is valid for fourteen or twenty-six months. Any particular individual can add more benefits to the primary or general policy, which will eventually make the insurance plan more expensive. Why the insurance companies provide the insurance plan validity of 14 or 26 months instead of 12 or 24 months?
The Answer Is Quite Simple: The extra two months after 12 and 24 months is for the renewal of the policy, and those two months insurance companies don’t charge a penny from you. In the basic policy, there are no medical benefits and dental benefits for the outpatient parties. The basic plan costs around S$239, and if you add on more privilege and avail an enhanced plan, then it will cost around S$292, which includes more benefits and there are two more levels of enhanced plans, namely, Premier, which costs S$377 and Exclusive, which cost S$456.
Situations Where Maid Insurance in Singapore Can Help You
The basic insurance plan feels sufficient to the employers, but in actuality, they are not. If you add on more facilities and opt for anyone of the enhanced plans, then maybe you’ll save much more of your money as these plans cover almost everything. Now let’s talk about the situations where maid insurance in Singapore can help you.
- Personal Belongings:In case of any theft or damage occurs to the personal belongings (jewelry, laptop, mobile, etc.) of domestic workers, then the insurance covers it. On the basic plan, there isn’t any personal belongings coverage, so if you opt for more benefits in enhanced plans, then you’ll get this advantage.
- Replacement Or Rehiring:In case you have any problem with your current domestic worker, then the insurance company will find you a new worker, but in that case, they charge S$200 as termination and rehiring expenses.
- Repatriation Expenses:If the domestic worker is permanently disabled or died, then an amount is provided to her family, which usually covers sending her back to her country. If the employer has a basic insurance plan, then this can be costly.
- Compensation:When the worker is severely ill or hospitalised and can’t work, based on your insurance plan, the worker gets paid for a particular point of time.
- Outpatient Workers:The outpatient workers don’t get medical and dental benefits in the basic plan. Know the plans accurately before investing, or else it may harm your savings. Add on more benefits to save more.
- Third-Party Liability:If the domestic worker harms or injures a third party by any accident, the insurance plan will cover this up entirely. Not applicable in the basic plan.
- Security Bond: If the domestic worker is from any other country, then he/she will receive a security bond of S$5,000.
- Accidental Fire:In case any unintentional fire occurs in the house, which may damage the properties, in that case, the insurance company provides help.
- Special Grant:if the worker dies in the employer’s home in Singapore, then a particular grant is offered to her heirs or her legal representative.
- Accidental and Hospitalisation Benefits:S$60,000 per year provided for the personal accident insurance coverage of the worker; a package of S$30,000 should be there as coverage to all hospitalisation expenses, including surgery charges.
Insurance for the domestic worker is helpful for both parties. Both get financial support and security. Contact today at HL Assurance Singapore to know more and buy your package.