An Overview Of Personal Accident Insurance In Singapore

Life can sometimes be quite unpredictable. What starts off as a regular quiet morning can often go awry. A spilt cup of coffee can lead to a painful burn, a trip on a laptop charger wire can leave you needing stitches, or an accident on the road can lead to a fracture. These scenarios are quite common and can happen to almost anyone. 

A personal accident insurance plan covers you against injuries that arise from such unforeseen events. You get covered against accidental death and accidental injuries. And that’s not where the coverage ends. Read on to discover more about the extensive coverage you can enjoy with a personal accident insurance plan in Singapore. 

 

• Coverage for infectious diseases

 

Personal accident insurance plans can cover a range of infectious diseases that commonly affect people. Some of these diseases include Dengue fever, HFMD (hand, foot, and mouth disease), rabies, malaria, mumps, plague and zika virus. Given the high rates of HFMD and dengue fever in Singapore, this kind of coverage is truly helpful as it can come in handy for hospital expenses that exceed the coverage of your health insurance or MediShield Life plan. 

 

• Protection against a range of unforeseen events

 

A personal accident insurance plan also covers you against many unexpected events that can cause injury or illness. These include hazardous events like scuba diving or even insect and animal bites. Some plans even cover you against food poisoning. Some insurance companies even give you triple the payout value if your accident was sustained while travelling in public transport. 

 

• Worldwide insurance 

 

Some of the best personal accident insurance plans in Singapore give worldwide protection against unpredictable events. This way, you can truly enjoy peace of mind when on foreign shores. While no one likes to think of accidents on foreign shores, the fact is that anything can happen when we least expect it to.

 

• Supplementary coverage

 

You can also opt to enhance your personal accident insurance plan with the help of riders for added protection. Riders can offer the following benefits in your personal accident insurance plan – 

1. Daily cash payout upon being admitted to the intensive care unit
2. Extra family support fund
3. Reimbursement for transportation expenses
4. Emergency evacuation and repatriation
5. Additional medical expenses for broken bones, fractures, and burns
6. Compensation for home modification made necessary due to an accident

 

• No-claims bonus

 

Some insurers also offer you a special no-claims bonus (NCB) on your personal accident insurance plan. You can avail this special benefit if you do not make any claims on your personal accident insurance plan for a certain period as specified by the insurer (around 5 years). 

As we can see, there are many benefits to having a personal accident insurance plan. Your spouse and children too can benefit from this form of coverage. You may want to speak to a financial consultant for help in selecting the right personal accident insurance plan. 

We hope that this was a good read. Take care.