MSIG MaidPlus's maid insurance plans provide above average coverage for average premiums, making it one of the higher value plans on the market. The extensive benefits MaidPlus provides, including its unique employer liability add-on can make it a high value option for consumers prioritising benefits over cost. This is in addition to appealing to consumers who value protection against expenses resulting from parting with their maids, either temporarily or permanently. However, customers seeking budget plans with simple protection may end up paying too much for coverage they won't utilise.
|Summary of MSIG MaidPlus Insurance|
|Coverage is above average for most benefits|
|Premiums are below average for Standard plan but around average for Classic and Premier|
|Provides above average medical coverage, including accidental dental injuries|
|Only offers 26-month plans|
|Promotion: 20% off + Free Medical Check-up for Classic and Premier plans+ every purchase of a policy gives you a chance to enter a lucky draw for 1x staycation voucher, dining or S$100 Fairprice voucher|
Table of Contents
- MSIG MaidPlus Insurance: What You Need to Know
- Claims & Contact Information
- MSIG MaidPlus Insurance Features & Coverage
MSIG MaidPlus Insurance: What You Need to Know
MSIG's MaidPlus plans can be a good fit for people who are looking for above average coverage without paying an extra premium for them. There are 3 plans to choose from, the Standard, Classic and Premier plan. When comparing 26-month premiums, the Standard plan costs 12% below average, making it one of the cheaper options on the market. The Classic and Premier plans cost around the average. However, despite premiums ranging on the lower to middle end, the benefits provide consistently above average coverage, whether it's hospitalisation expenses or alternative help coverage.
In terms of benefits, MaidPlus provides a variety of necessary and peace of mind benefits that may entice value maximising consumers. You'll receive the necessary S$60,000 of personal accident coverage and at least S$15,000 of hospitalisation treatment. MSIG's medical coverage is one of the best on the market, with hospitsalition, medical expense and even dental/TCM benefits having average or above average limits. Furthermore, your domestic worker's medical expenses will even be covered if she is travelling with you. Beyond that, you will get coverage for wage reimbursement, alternative domestic help (if you need a temporary replacement while your worker is in the hospital) and even replacement for your domestic worker's damaged belongings in the event of a fire or flood. However, it's not just the breadth of coverage that is impressive. The benefit limits are consistently above average, making all 3 plans a good option for value-seeking consumers.
However, MSIG's MaidPlus plans do have a few drawbacks. First, because MSIG MaidPlus's pricing is around the market average, so cost-conscious consumers will the cheaper premiums offered by insurers like Etiqa a better fit. Furthermore, people who are concerned about liability coverage may not feel like they're getting enough coverage with the below average third party liability benefit limit as the limits to this benefit are between 4-42% below the industry average. Lastly, FDW employers looking for one year coverage plans will not be able to purchase MSIG's MaidPlus, as it only offers 26-month plans.
MSIG MaidPlus Add-ons
MSIG stands out with its employer's liability add-on where you can purchase up to S$1,000,000 in coverage, which is the highest amount available in the market. The purpose of employer's liability coverage is to protect you should your maid get sick or injured and decide to pursue legal action against you. There are three levels of coverage available: S$300,000 for S$26.75, S$500,000 for S$37.45 and S$1,000,000 for S$69.55. If you feel like the base plans lack liability protection and you are worried about potential lawsuits from your maid or her family, this add-on is your best bet for maximum protection.
There are also two waiver of indemnity and bond guarantee benefits. The waiver of counter indemnity for the insurance guarantee bond you owe to the Ministry of Manpower (MOM) will cover you in the event you need to pay the S$5,000 security bond. The second insurance guarantee bond you can purchase is if you hired a new Filipino domestic worker and need a letter of guarantee for the S$7,000 security bond to the Philippine Overseas Labour Office. This benefit will have MSIG submit the letter of guarantee on your behalf.
|Waiver of Counter Indemnity||S$53.50||S$5,000 (excess: S$250)|
|Insurance Guarantee Bond (Philippines Labour Office)||S$80.25||S$7,000|
There is also a S$30,000 in-patient hospitalisation coverage if your domestic worker is diagnosed with COVID-19 within 14 days of entry or re-entry into Singapore. This coverage is on top of the usual S$15,000 hospitalisation coverage and costs S$64.20 before any promotions. Please note this coverage does not cover COVID-19 swab tests required for entry into Singapore, post-arrival and pre-departure tests or treatments in private medical facilities. Existing customers who purchased an MSIG policy prior to 12/31/2020 should reach out to MSIG directly if they want to add the COVID-19 coverage.
Claims & Contact Information
To file a maid insurance claim with MSIG, you have to notify your agent or broker as soon as possible and file the relevant police reports if there is fatal or serious injury or criminal activity. If you do not use the services of an agent or broker, please file your claim directly with MSIG by completing the claim form available on their website or call MSIG at 6827 7660 during business hours for assistance.
|Customer Centre||4 Shenton Way #21‑01 SGX Centre 2 Singapore 068807|
|Customer Service Hotline||65 6827 7602|
|Emergency Claims Hotline||65 6827 7660|
|SMS Enquiry||9158 1660|
|Filing a claim||Claim Procedure & Forms|
MSIG MaidPlus Insurance Features & Coverage
Below, we have compiled a chart that shows how MSIG's maid insurance plans compare to those of other products in the market. For more information, we have created a guide to some of the best maid insurance policies in Singapore.
|Benefits & Features||Standard||Classic||Premier||Industry Avg.|
|3rd Party Liability||S$5,000||S$10,000||S$20,000||S$13,135|