Details - EQ Insurance

What is Reimbursement of Indemnity Paid to Insurer?

The reimbursement limits your S$5,000 bond liability to S$250 if the breach of the bond is not due to your negligence or fault. It is an optional feature in EQ Maid. Every foreign maid employer in Singapore has to place S$5,000 as a deposit with Ministry of Manpower. If the maid runs away or gets pregnant, for example, the employer may lose the entire sum or the bond will be called up. However, if you add the option, you will be able to limit your liability to only S$250.

Can I still opt for the Reimbursement of Indemnity after the policy commences?

Yes, you can add within the first 30 days from the effective date of the policy but your liability increases to S$500.

Can I purchase just the S$5,000 Guarantee bond without the accompanying insurance, which plan should I buy?

Our guarantees come with the insurance in our plans.

Why does MOM require a 14 or 26 months insurance and bond when they only issue a 12 or 24 months work permit?Am I being charged premium for the extra 2 months of insurance and bond?

For every insurance and bond, there will be an additional 2 months cover as this is a requirement by MOM. It is a precaution that in any event/ reason the maid overstay in Singapore after her work permit expired, she is still covered under the insurance. For EQ Maid, the premium is charged on a 12 or 24 months period, no additional premium is charged for the extra 2 months.

If my maid's passport expires in less than 2 years' time, will I still be able to get a 2-years work permit from MOM?

No. MOM will only issue a work permit that will expire one month before the passport expires.

When will the guarantee bond records be transmitted to MOM?

We will electronically transmit to MOM from Monday to Friday. For new maid cases, policy/guarantee details will be transmitted to the MOM within 7 calendar days of insurance effective date. For renewal of work permit, policy/guarantee details will be transmitted to the MOM within 35 calendar days of insurance effective date.

Will I still be liable to pay for the S$5,000 Security Bond to MOM when I have already purchase the Guarantee from EQI?

EQ Insurance is acting as a guarantor by providing a Letter of Guarantee to MOM on behalf of employers so that they can apply for a maid without paying out S$5,000 cash upfront to MOM. In the event that employer or maid has breached the MOM's rules and conditions, MOM will call up the bond from EQI which will in turn recover from you.

What is the difference between S$2,000 Medical Expenses and S$15,000 Hospital and Surgical Expenses?

Medical expenses are for accidents only and you can claim for out-patient treatments. For example, if your maid accidentally cuts her hand and requires a few stitches. Hospital and Surgical expenses covers both accidents and illnesses, expenses have to be incurred as an inpatient. E.g. maid is admitted to hospital for day surgery. However, if illness is a pre-existing condition, then it is not claimable.

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