Here’s some key features of our product:
A quick overview of our plan’s coverage
|Premiums (GST is exempted)||14 months
|Payment Frequency||One-time payment|
|Bond Period||14 or 26 months depending on the In-Principal Approval issued.|
|Refund Premium||No refund or cancellation midway during the bond period.|
|Guarantee Sum per Foreign Worker||Per worker
Max limit per insured
|Information required for submission||
Looking for insurance to provide your foreign worker employees a 24-hour coverage against death and accidents? Learn more about our WorkMedic.
Who requires Foreign Worker Security Bond?
You will need to buy a security bond for each non-Malaysian worker you employ.
If your company is registered under the below activities, you will not be able to proceed with the application online. Please click on “Send us an enquiry” for us to provide you with a quotation.
• 301xx – Building and repairing of ships and boats
• 4329x – Other construction installation
• 41001 – General contractors (building construction including major upgrading works)
• 41009 – Building construction N.E.C
Ways to pay for Foreign Worker Security Bond.
Find out how you can make payment for your policy by choosing from the preferred methods below. For other accepted payment modes, you may get in touch with us through your preferred mode of contact at www.income.com.sg/contact-us.
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