Unexpected emergencies can cause financial and emotional burdens on you and your loved ones. For this reason, having comprehensive personal accident insurance can reduce some of the financial burden like expensive medical expenses, allowing you to focus on recovering.
In the case of an accident, a personal accident plan can shield you and your family from unanticipated financial obligations. Additionally, it guards against several viral diseases, food poisoning, and international terrorism.
About the Different Personal Accident Insurance Options Available in Singapore
The most often-used personal accident insurance policies in Singapore are:
1. MultiGen Protect
The MultiGen Protect Insurance plan is designed to accommodate every family member. Get individualised personal accident insurance for all family members, regardless of age. One online application offers instant security. You may acquire fast protection for your family with just one easy online application. You save more cash when more family members are covered. Safeguard more family members to benefit from higher savings (up to 20% off).
Complimentary Personal Accident Protect II
This Free Personal Accident Protect II gives you worldwide coverage around the clock. In the case of an accident, you will get financial compensation at every stage, including hospitalisation. Get SGD 100 for every 24-hour hospital stay, with a five-day maximum cap.
Your family may receive a lump sum payment of up to S$50,000 under the Family Assistance Benefit in the event of a tragic passing or permanent total disablement. Conversely, if an accident results in death, you are eligible for the Compassionate Assistance Benefit, which offers your estate a S$50,000 payouts.
After you complete your application, you instantly have no-cost protection with Complementary Personal Accident Protect II, which expires automatically after three consecutive months. You don’t need to request a cancellation. No unstated costs exist. Payment is not required.
Even if you have other accident insurance policies, you are still eligible to file a claim.
The applicant must meet certain eligibility conditions such as:
- A client of DBS/POSB
- A Singaporean national who is, inclusively, between the ages of 18 and 70; and
- Not be covered by any Free Personal Accident Protect II insurance
2. Important characteristics
Accidental death coverage for SGD 80,000 in the Premier Plan and SGD 60,000 in the Classic Plan
· Accidental Permanent Disability benefit, in which a lump sum payment is provided by the compensation schedule
· Compensation for Unexpected Medical Expenses
· Medical expenses for treating unintended damage caused by a doctor, including any costs spent from an alternative medical physician, up to SGD 1,500 per incident
· Hospital benefit in cash (daily) For both the Premier Plan (SGD200 per day) and the Classic Plan (SGD150 per day), there is a 60-day limit on unintentional injury claims.
3. Simple Protection
· Monetary Recompense for Recuperation
You may be eligible for a maximum of 52 weeks of rehab cash benefits if an accident leaves you temporarily disabled. Accidental Medical Expenditures Reimbursement, Including Treatment with Traditional Chinese Medicine Up to S$3,000 in medical expenditures are reimbursed for each accident.
· Daily Special Cash Benefit from the Hospital
Benefits for up to 60 days are available if you are hospitalised for food poisoning, illness of the hands, feet, or mouth, or dengue fever/haemorrhagic fever (HFMD).
· Bonus with No Restrictions
For a full year, you will receive a refund of fifteen percent on your premiums (GST excluded) if you do not file a claim.
How can I make a compensation claim?
The first step before requesting compensation is to make sure all of your documentation is current. The hospitalisation and treatment records and paperwork should be current. Applying to the insurance provider within 30 days after the accident date is the best approach to initiating a claim.