Finance

Everything You Need to Know About Domestic Helper Insurance

When you get so many insurance plans for your maid that could be hard to select the best one for your maid in Singapore. Appointing a new maid in your home is indeed a risk that is tough to foresee. At the time of selection, based on the budget is the best idea, and you may take into appreciation what you want to protect & the medical needs of your maid. Read this article thoroughly to get every detail of the best Maid Insurance Singapore before purchasing any insurance.

Choosing the Maid Insurance Policy Based on Cost

There are 3 several tiers of maid insurance usually based on coverage and price level. This makes the fact simpler to distinguish which policy suits within the budget. The basic plans give less coverage & the smaller coverage scope options. But the top and mid-tier plans provide the best protection levels. But there is no surety that the cheaper plan means the policy is suitable for everyone. 

Essential Maid Insurance Plans

The basic plan price could be a better fit for the maids on the restricted budget & do not need any extensive protection.

The basic plan offers less coverage, but still, a good value is provided. If you have started with household maids & much expenditure, essential plans, you must know that the necessary policies are great options to track records & this will relatively save your cash for upcoming policy.

Maid Insurance Plans of Mid-Tier

For the cost-conscious who needs a better variation of coverage, this policy could be the right choice. The mid-tier policies provide reasonable price per dollar among 3 tier coverage. 

Top-Tier Maid Insurance Plans

The customers who like to get the most extensive policy, top tier policy will provide the comprehensive coverage. While you are ready to afford those, the plans will provide full breadth coverage with better payouts and alleviating worries of risks while hiring your new maid. Those plans give maximum coverage for theft coverage, hospitalization, and 3rd party liability.

Selecting Maid Insurance Based on Coverage

The HL Assurance distinguishes itself by giving different types of protection. The new medical coverage range is like outpatient expenses and hospital recuperation to the liability coverage of theft and lawsuits protection. If you could perceive what type of protection you will need, then you could find the policy which works perfectly for the lifestyle you lead, and that will protect you a significant number of new pocket prices.

Medical Coverage

Another significant factor is medical coverage to consider while analyzing maid insurance policies because, as his employee, you’ll be liable for paying every medical expense of your maid. Minimum coverage is up to $60,000 for personal accidents and approximately $15,000 for hospitalization expenses. 

Insurance agencies distinguish their plans by giving extra medical coverage. Maximum plans cover the main outpatient expenses (kidney or cancer dialysis) & hospital recuperation. Many of them reimburse expenditures for some treatment of Chinese physician & dengue fever. But the insurance companies do not cover injuries from several hazardous sports, childbirth, and STD’s or pre-existing situations. 

Aspects of Different Insurance Coverage

  • Modifying your policy to match the medical needs of your maid can save a lot from pocket expenses like quickly getting sick or psychological troubles. If the medical costs get out of your pocket, then try for a maximum medical coverage policy. If you are from an accident-prone environment, you may opt for comprehensive medical coverage. There are a lot of insurance agencies in Singapore with a variety of policies. Always try to consult with an insurance expert before taking any policy for your maid. 
  • If the actual responsibility is to protect your valuables and your family, you could try to find some policies which offer maximum protection against lawsuits and theft. The best liability coverages are 3rd party liability coverages. This will protect you from the lawsuits in any incident your maid damages someone and maybe their property accidentally. If a maximum phase of interaction happens between the stranger & your maid during the duty, the liability plan could insure you from the feasible legal accidents. Domestic helpers’ liability benefit could be sufficient protection for keeping in mind that your maid would be accountable for the elderly or young children that might be disclosed to apparent abuse.
  • Liability coverage covers legal & different fees charged against you and the maids up to the specific level as per the policy’s description. Other non-medical coverages contain theft protection by the maid, the replacement fees when you will hire your new maid, coverage for provisional help if the maid gets hospitalized & the maid’s belongings protection. But you won’t be covered when you will claim your losses for any wrong party & your maid, or you commit brutal acts, kill or harm (under the effect of drug or alcohol or using weapons)
  • Different insurance companies are there offering elective coverage add-ons, which could be an excellent way to customize the policy for matching your needs. Sometimes you like the policy, but that would be better if some other facilities would add it. In these cases, you can utilize add-ons features. Maybe your cost will become higher, but you will get more coverage from more risks your money will be involved in the lengthy term.

Maid Insurance Policy Add-Ons Types

There are different kinds of add-ons policies that could give you a purchasing option. These contain topping up the hospitalization coverage; for the added premium an additional coverage could be bought. Many insurance companies in Singapore provide medical checkup coverage for the additional fees & other companies offer it for dental coverage and psychiatric.

Release of The Indemnity Add-Ons for the Foreign Workers

The most helpful add-ons which you should purchase is the release of the counter indemnity. If you are an employer, then you need to submit the bond amount to the Singapore Ministry of Manpower. You will have to pay this whether you break the constitution governing the employment of your maid (unless a Malaysian). The plans will give a disclaimer of the counter indemnity that could limit the liability.

 

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