Is your maid insured?

March 17, 2007

Maid cleaning window survives three-storey fall

Indonesian is the third maid to fall from a flat in the past few months

By Amelia Tan & Krist Boo

AN INDONESIAN maid had a lucky escape early yesterday morning when she survived a three-storey plunge from her employer's flat.

Ms Nia Wulandari had climbed onto the ledge of a third-storey Choa Chu Kang flat at about 6am yesterday to clean windows when she slipped and fell.

The police received a call at 6.15am and a Singapore Civil Defence Force ambulance took her to National University Hospital (NUH) shortly after, where last night she was in a stable condition.

Ms Nia is the third maid to fall from a flat in the past few months. In October and November last year, two maids fell to their death in the course of work, adding to the grim total of more than 100 workplace maid deaths over the past seven years.

A neighbor, who wanted to be known only as Mr Liu, said he saw Ms Nia falling from the flat, screaming. When he rushed to the ground floor, she was lying motionless and calling out for help.

Employing a domestic maid often incurs a host of expenses including security deposits to the Controller of Immigration, levies and medical expenses should your maid be injured or hospitalised.

A Maid Insurance can take care of all that for you for as little as 10 cents a day.

—An all-in-one insurance package that meets your need, Maid Insurance can pay the S$5,000 security deposit required by the Controller of Immigration, and covers:

—Personal accident cover for your maid 24hrs round-the-clock

—Medical expenses incurred when your maid is hospitalised

—Repatriation costs in the event of your maid's death or permanent disability

—Hospital and surgical expenses when the maid is hospitalized

—Wages compensation & levy reimbursement while your maid is in hospital

—Termination expenses incurred when your maid becomes medically unfit to continue working Insurance Guarantee and Reimbursement of Idemnity Paid to Insurer

Take responsibility!
Contact us for your needs based advisor!

Singaporeans are grossly underinsured: LIA research

March 30, 2007

Singaporeans are grossly underinsured: LIA research

Two new studies suggest lack of awareness of what is enough coverage

By Lorna Tan, Finance Correspondent

MOST Singaporeans are woefully underinsured and will not have enough to cover their death expenses, outstanding loans and dependants' needs, a body representing the life insurance industry said yesterday.

The Life Insurance Association (LIA) said its commissioned research found that the average Singapore adult may be underinsured by as much as $362,000.

What many consumers do not realise is that they only have to pay premiums of less than $4 a day to buy a term plan to cover this shortfall, the LIA said.

LIA's new findings indicate that Singaporeans without an insurance policy are indifferent about getting coverage.

They see insurance as 'expensive' and believe there are 'more urgent necessities' such as a car and credit card loans.

Those were the key findings of two new studies commissioned by the LIA to find out consumers' attitudes on insurance protection, and to determine the extent of underinsurance for death cover among working Singaporeans.

Of the 400 consumers polled in the first survey, three in 10 did not have any insurance. Of those who did, 26 per cent had no idea how much they are covered for.

Those who believed they are well-covered were often quite misguided as the average amount of coverage of this group was only $173,000, well below 10 times average annual income - a widely used rule of thumb.

In fact, Nanyang Technological University's Associate Professor Yee Wah Chin, said the minimum level of death cover should be 11.3 times of a person's annual income.

The facts are out! Singaporeans are grossly under insured. But not many people are keen to open up and listen to what an insurance agent has to say. This could be due to the bad publicity; bad experience from past agents, what ever the reason, this should not hinder one from seeking a reliable needs based honest agent to help them in properly insuring their family. To be in command, control and even have a say even when the sole breadwinner is gone!

Feb 20, 2007

Widow struggles to care for kids, mum-in-law

On Jan 26 last year, the family's breadwinner, lorry driver Lim Kah Sim, was crossing the carpark just below the Bukit Timah flat when he was knocked down by a van.

It was 5.45am and Mr Lim, 50, was on his way to take a bus to his Jurong workplace.

He suffered head injuries and was in hospital for two days before dying just a day before Chinese New Year.

His wife, who wished to be known only as Madam Kong, now cares for their son, 15, and daughter, 13, who are in Secondary 3 and 1 respectively.

Mr Lim earned about $1,500 a month, supplementing his lorry driver's income by working at a friend's shop on weekends.

Madam Kong, 44, helped out by selling household products part-time.

Madam Kong said: 'Life is very unfair. My husband was very healthy.'

She revealed that they had hardly any savings, and Mr Lim did not own any life insurance policies.

They also had to support Mr Lim's immobile parents who lived with them in their four-room flat. His father passed away shortly after Mr Lim's death, leaving his mother in Madam Kong's care.

If her husband had taken an insurance policy, his family would not be in such a bad state. Insurance is a gift of love…..providing family income and care beyond the grave!

Contact us now for a non-obligation financial health check!

Can your company survive a major catastrophe?

March 30, 2007

Case File

3 OFFICES IN AYER RAJAH BURGLED

THREE offices in Ayer Rajah Crescent were found burgled on Tuesday morning, with two of the break-ins on the 7th floor of Block 55.

The front door had been forced open in one unit, and $390 stolen from a drawer. A manager of a second office also found the doors breached and the place ransacked, but nothing was stolen.

In the third burgled office at Block 71, $360 was stolen from a drawer.

Are you protected with Theft insurance? What should your business insurance protect against? Well for a mere $250 onwards a year, such package policies can provide comprehensive protection to your company. Why leave your company exposed to financial risks that beset any business establishment - big or small - such as damage or loss due to natural calamities, theft, workmen’s injuries or the untimely demise of a key personnel?

To protect you and your business against these types of financial burdens there are BUSINESS 3-IN-1, an all-in-one plan specially designed to protect your three prime assets.

1. Protect your CAPITAL ASSETS with BizAssurance

2. Protect your STAFF with Employees Comprehensive Benefits (ECB) Plan

3. Protect your KEY PERSON with Keyman Insurance

BUSINESS 3-IN-1 Gives You Flexibility to Protect What You Need

Once you sign up, you can enjoy the convenience of having a one-stop insurance provider with an all-inclusive range of packages. Let us help you tailor-fit a package suited to your business and management operations.

General Insurance Secures Your Business

Business security plays a critical role in ensuring uninterrupted and worry-free operations. Being extra careful at work or with your property is not enough. You need to anticipate and take necessary measures to minimise damages and/or losses caused by various unforeseen natural calamities, work-related accidents, liabilities and fraudulent acts by unscrupulous individuals. With General Insurance, you and your assets will be covered against such financial strains.

BizAssurance Protects You From Financial Risks

BizAssurance is specially designed to indemnify your business against a wide array of perilous occurrences. Should fire, lightning or any other disasters interrupt your business, you can be rest assured that BizAssurance will keep your business running.

BizAssurance Gives You Comprehensive Protection

Through BizAssurance, your business is indemnified against these perils:

• Fire and Extraneous Perils indemnifies you against physical loss of or damage to your contents including stock-in-trade as a result of fire, lightning, and other perils such as earthquake, flood, riot and strike, malicious damage and sprinkler leakage.

• Consequential Loss covers the loss of profits and expenses incurred to restore your business to its position before the loss.

• Theft and Hold-Up indemnifies you against physical loss of or damage to your contents including stock-forcible or violent entry.

What are you waiting for? Contact your personalize needs based adviser for a no-obligation review on your company’s needs.