Personal Accident Insurance Coverage | Types of Personal Accident Insurance

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Everybody has bad luck now and then. The MRT you took breaks down and a lot of other unpleasant events can occur. We’re not just talking about breaking your head here. You could turn into a vegetable through no fault of your own. In an unwanted situation, personal accident insurance is your greatest friend. Do you want to know about personal accident insurance? Personal accident insurance plans help you in the event of an accident. However, it is not limited to only accidents. It also includes coverage for infectious diseases. For example, Dengue, Zika, etc. In this blog, we tell you about personal accident insurance coverage in Singapore.

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Personal Accident Insurance in Singapore

Personal accident insurance provides financial support to you or your family in the case of an accident. This type of insurance also covers permanent disability. Additionally, it also gives you coverage for medical expenses. There are various types of personal accident insurance plans in Singapore. And different insurance plans offer different benefits. We recommend you sign up for a personal accident insurance policy and safeguard your family. Insurance companies usually offer the following types of coverage:

Types of Personal Accident Insurance Coverage: 

Accidental Death Coverage 

The accidental death coverage plan offers a payout when an individual dies due to an accident. After an accident, if the person dies within a certain time limit (typically 12 months) the family of the deceased will receive a payout equal to 100% of the sum assured. However, first, you have to prove that the death was caused by an accident rather than natural causes or an illness.

Partially Permanent Disability Coverage 

 If you are partially disabled, you can still receive a percentage of the sum insured. For example, if you lost sight in one eye, you could receive a 20% payout.

Temporary Disability Coverage 

A temporarily disabled person falls under temporary disability coverage. The person is eligible for benefits until they recover and can work again. These benefits are typically offered in weekly cash payments for a set number of weeks. You get the full amount allocated for temporary disability benefits. But if you can only perform a portion of your job duties, you will only receive a portion of the temporary disability benefits.

Total and Permanent Disability (TPD) Coverage 

This policy offers coverage to permanently disabled individuals. Any patient with a disability because of an accident gets a lump sum. The criteria for TDP coverage is that the patient has either lost eyesight or both limbs or has hearing and speech disabilities. It refers to an individual who is unable to work in any capacity. The TDP provides total coverage for any permanently disabled person. 

Daily Hospital Cash Benefit Coverage

The daily hospital cash benefit plan offers a daily cash allowance for hospitalization. With this, you get a cash allowance for hospitalization due to an accident. However, there are limitations on the number of days. 

Medical Expenses Coverage 

Sign up for this policy and you can claim the medical expenses you incur because of an accident. However, the coverage offered is meager in comparison to health insurance coverage. Also, keep in mind that this plan excludes many medical treatments.

Medical Evacuation Coverage

The medical evacuation policy can come in handy for frequent travelers. There are many insurance com offer medical evacuation coverage. So, you don’t need to worry if you have an accident while you are traveling. This policy gives you coverage for emergency medical evacuation. And in unfortunate situations, it also covers the cost of the repatriation of a dead body back to Singapore. 

You can get a low-cost personal accident insurance coverage policy that covers common mishaps and diseases and protects your loved ones. From minor mishaps in everyday life to the ongoing threat of infectious diseases. A personal accident plan helps you start each day with confidence. By financially protecting you against these and other unforeseen events.

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