What is maid insurance?
Domestic maid insurance or FDW Foreign Domestic Worker insurance covers basic hospitalization needs and personal accident benefits for the domestic helper. Some maid insurance also protects the employers on the loss of security deposits with MOM (Singapore Ministry of Manpower) if the maid runs away.
This maid security bond is a legal binding pledge and is currently up to S$5,000. It will be forfeited if you break the law or does not fulfill your obligation as an employer.
Is it compulsory to buy maid insurance for my domestic helper?
Yes, it is compulsory to buy medical insurance and personal accident insurance for your maid. Insurers have designed maid insurance to cover this compulsory measure set by Singapore’s Ministry of Manpower, MOM.
Do I need foreign maid insurance?
You may hire a maid or a domestic helper for your household to take care of chores and caretakers for your children and parents. This plan will help you take care of her if she fall sick or got injured during working in Singapore
If you do not have such insurance, the onus is on the employer to pay for all the medical and hospitalisation costs incurred for her treatment in Singapore. You also have to fork out for any costs of sending her home for long term medical care or repatriating back her body should the most unfortunate occurs.
Is maid insurance transferrable?
Most maid insurance is transferable to cover a new domestic helper. You may want to check with the insurer. Even if they do not allow a transfer, some insurers will allow you to get a refund of the unused portion of the maid insurance when you send the old maid back home when the contract ends.
How much is maid insurance?
It is very cheap, costing only a hundred plus yearly for the most basic plan or a few hundred for the standardized or premium package.
What is the cheapest maid insurance?
Some of the cheapest maid insurance are from reputed and newcomers such as NTUC Income Maid insurance, FWD maid insurance, Etiqa maid insurance, MSIG maid insurance, Sompa or AXA. Do check around as the cheapest maid insurance may not be the best ideal for you.
All insurers have standardized plans so you can pick not just the cheapest but the best maid insurance that is suitable for your household and you.