Maid insurance is a mandatory insurance policy required by the Ministry of Manpower that provides health and other insurance benefits to your domestic helper. You can select a coverage period of either 14 months or 26 months. The main benefits of maid insurance are the hospitalisation coverage and personal accident coverage as required by law. Depending on the insurer and type of plan you choose, additional or optional benefits can include:
It is a form of Guarantee provided by the insurer on your behalf that replaces the sum of S$5,000 which you are required to deposit with the Ministry of Manpower when you hire a maid. Insurers have the right of indemnification up to S$5,000 against you for the Letter of Guarantee in the event a demand is made by the Ministry of Manpower. Alternatively, you can purchase the Waiver of Counter Indemnity for an additional premium to limit your $5000 liability to a smaller amount.
Under the requirement from Ministry of Manpower, the additional 2 months is to provide insurance coverage should the maid overstays in Singapore after his or her work permit has expired.
The physical documents itself are not needed when renewing your Maid insurance online, provided the information given to your insurer is correct.
You are required to take up a Philippines Embassy Bond if you employ a Filipino maid. This function as an undertaking to the Philippine Overseas Labour Office to ensure you complies with the Standard Employment Contract for a Filipino Household Worker. This bond is offered by most insurers as an add-on to the policy.