OAC Maid Supreme

Overview
Employing a domestic maid often incurs a host of expenses including a security deposit to the Controller of Immigration, levies and medical expenses should your maid be injured or hospitalized. OAC Maid Supreme can take care of all that for you for as little as 25 cents a day.

Key Benefits
OAC Maid Supreme is an all-in-one insurance package that provides protection for the following covers:

• Personal Accident cover for your maid 24 hours round-the-clock.
• Medical expenses incurred when your maid is hospitalized.
• Hospital & Surgical expenses in the event of your maid’s accident, disease or sickness.
• Wages compensation & levy reimbursement while your maid is in hospital.
• Domestic Maid’s Liability cover should your maid caused accidental bodily injury or damage caused to a third party.
• Expenses Defrayment Benefit of a daily cash allowance in the event of your accidental death.
• The loss or damage to the Domestic Maid’s Belongings due to fire and related perils.
• Termination Expenses incurred when your maid becomes medically unfit to continue working.
• Repatriation costs in the event of your maid’s death or permanent disability.
• Recuperation allowance when your maid is hospitalized for at least 5 days.
• Insurance Guarantee & Reimbursement of Indemnity Paid to Insurer for the security bond.

Click here to send email us for questions or a brochure.

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Is Maid Insurance Compulsory?

Is Personal Accident Insurance Necessary?
Employers are required to purchase personal accident insurance coverage for the maid; the minimum sum insured is $10,000.

You are also responsible for the medical expenses of the maid:
As an Employer, you are required to bear the full cost of the medical care, including hospitalisation. It is recommended to have insurance coverage for hospitalisation expenses for your maid.


To learn more about maid insurance, click here

What is the difference between Medishield and Private plans?

There are still people who are mixed up with Medishield and the Privatised "Shield Plans" in the market.

Most of the Singaporeans/PRs have Medishield, and when you upgrade your plan to a private medical plan (e..g from AIA, NTUC or Great Eastern), you simply have better and higher benefits. The deductibles and co-insurances are a little higher if you prefer to go for private hospital healthcare (e.g. Gleneagles). The "Private Medical Plan" is stacked on top of the basic government "Medishield" plan. The intergration of the plans (Medishield and the Private Medical Plan) is done by the insurer and the government, so you don't have to worry too much about it.

For premiums, you only need to pay once/yearly to the insurer if you have upgraded your medical plan.

Early Payout Critical Care EPCC

Overview
Protect yourself with the first and only plan in Singapore that pays at the earlier stages of critical illness. Early-Payout CriticalCare is now the ONLY severity-based critical illness plan in Singapore that gives you a payout at the earlier stages of critical illness.

Key Benefits
Early-Payout CriticalCare provides coverage for a total of 60 medical conditions of different severity level from early to advance stages for 30 critical illnesses to ensure you are protected all the way.

The early release of funds allows you to seek medical treatment before a critical illness progresses to a more severe and advance stage. With the advantage of early financial support you can have peace of mind to focus solely on treatment and recovery.

[more at lifeisgreat.com.sg]

Questions or need more info?
Feel free to drop me an email at Melvin.Lkw[at]gmail.com

Choice Saver Series 2 (Feb 2009)

Great Eastern recently released a revised single premium endowment fund, Choice Saver Series 2.

The good thing about the plan is that the premium is Guaranteed at maturity, giving an added assurance to consumers who are wary in today's financial products. Insurance coverage is minimum at 101% of the premium only.

Without further ado, here's a summary of the interest rates based on term, premium amount.

Projected Annualised Returns Upon Maturity (p.a)
Policy Term	Single Premium
	$10,000	$50,000
5	2.40%	2.60%
10	3.10%	3.25%
15	3.75%	3.85%
20	3.80%	3.90%
25	3.90%	4.00%