Compare the Best Maid Insurance in Singapore (2022)

What is the $5,000 Security Bond and is it necessary?

The security bond normally takes the form of an insurance plan where the provider acts as a agrees to pay the government $5000 in the event the employer (you) or your helper breaks a law or Work Permit conditions. Security bond insurance is required for every helper you employ, unless they are Malaysian.

However, if the Ministry of Manpower’s rules and conditions, have been breached, after paying the claim to MOM, your insurance provider will then claim the cost from you

When should you buy the Bond?

It’s best to buy the bond prior to the arrival of your helper.

When and how do you get your Bond Deposit back?

Assuming the security bond’s terms and conditions have not been breached, you can get the bond deposit back once:

• your helper has completed their term of employment
• their work permit has been cancelled,
• your helper has returned to their country of origin successfully.

The deposit is usually refunded 7 days after the helper has left Singapore.

Under what circumstances will the bond deposit be forfeited?

The deposit will not be able to be claimed back if:

• you or your helper has breached any of the terms and conditions in the Work Permit or security bond
• you do not pay your helper’s salary in a timely manner
• you do not send your helper back to their country of origin after their Work Permit is no longer valid,
• your helper goes missing.

You will not, however, be liable if you can prove that you have carried out the required due diligence, and report on any non-compliances that you detect. For example, if you have informed the helper of the Work Permit conditions, but they have shown signs that they will not comply with what is required.

How can employers protect their bond deposit?

You can purchase an optional “waiver of indemnity.” This will protect the deposit in case the conditions of the security bond or Work Permit are breached (outside your ability to control it). The insurer can then cover the majority of the security bond and reduce your liability from $5000 to $250.

Why are the insurance periods 14 or 26 months when the work permits are issued at 12 or 24 months?

This a requirement from the Ministry of Manpower and provides additional 2 months of protection for helpers in the event they happen to overstay in Singapore after their work permit has expired.

If my helper requires outpatient treatment, will the expenses be covered?

Only when the injury is due to an accident. It’s best to check the details of coverage under ‘Outpatient Expenses’ specifically instead of looking at ‘Medical Coverage’ generally.

Can I increase coverage for my domestic helper?

Yes, most insurers will let you buy additional coverage

What details are needed to apply for maid insurance in Singapore?

Most insurers will ask for the following details from your helper in their application forms:

• their work permit number
• their passport number
• their SB transmission number (located on the top right corner of the in-principle approval or renewal letter from the Ministry of Manpower)

What do I do if I need to terminate the maid insurance early?

Most insurers will allow a refund of the insurance amount on a prorated basis but it’s best to double check the policy documentation for exact details.
Early cancellation will first require:

• the repatriation of your helper to their home country
• the cancellation of the work permit within 7 days of your helper’s departure
• an application to your insurer to cancel the maid insurance (this is after the work permit cancellation has been approved).

How to apply for a work permit?

You can either go through an enrolment agency or apply on your own by going to the Ministry of Manpower online. Work Permits incur a total cost of $70 – half when you submit an application and the other half after the Work Permit is issued

How much does it cost to renew a maid work permit?

$35 per renewal.

How to make Maid insurance claim?

It’s best to contact your insurance provider directly and complete their claims form as soon as possible.

What is the reimbursement of indemnity/waiver of counter indemnity paid to the insurer?

If you are willing to pay an additional premium to your insurance provider, this reimbursement of indemnity/waiver of counter indemnity can protect your bond deposit in the event any breach of the Work Permit or security bond conditions occurs that is not your fault. It can lower your bond liability from $5,000 to $250.

How does the wages and levy reimbursement benefit work?

This benefit allows for the insurance company to cover your helper’s wages in case they become hospitalised or injured and are unable to work. A specified sum is usually paid daily for a certain period of time, e.g. $30 a day for 30 days.

Is the compulsory coverage enough?

Compulsory coverage usually has a minimum coverage of $15,000 a year for in-patient care and day surgery with a personal accident coverage of $60,000 a year.

Assessing the suitability of this minimum compulsory coverage depends greatly on the employer themselves, the employer’s budget, the nature of the helper’s work, and what is appropriate for the expected work conditions. By purchasing add-ons to the main maid insurance, it could potentially save you more money in the event your helper gets into a serious accident, however the premiums for the additional benefits are also costlier in turn. The employer may assess that more coverage is required for example, for helpers working as carers for the elderly (which will require more heavy lifting of adult bodies and greater risk of strain) than helpers who care for young children.