Personal Accident Insurance FAQs
- Who can apply for this Policy?
- Can I get instant Personal Accident Insurance cover?
- What is the definition of an Accident under this insurance?
- If I met with an accident previously, can I still apply for this policy?
- Does PA insurance policy premium increase with age?
- Why are premium rates based on occupation?
In general you can apply for this Policy if you are between the age of 18 to 65 years old. You must be a Singapore Citizen, Singapore Permanent resident or a foreigner holding a valid pass issued by Singapore government and is residing in Singapore.
Yes. If you satisfy the requirements for personal accident insurance, you can purchase your insurance and make payment online. Once we confirm with you that we have collected your premium through our online payment gateway, you will have successfully purchased your policy. This should take a minute or two, and you will then be insured.
An Accident is an event which is sudden, unexpected or unforeseen and it leads to an outcome which the Insured person did not intend or anticipate. It does not include the progressive cumulative result of a series of small incidents.
Yes, you can submit your application together with the details of your previous accident. You should include when the accident happened, the cause of the accident and the medical treatment that you received. The insurer will assess your condition and contact you on their decision.
No. The Policy premium is not affected by age and does not increase as you get older.
Each occupation type involves specific work activities which would expose the individual to different risk hazards and this has a direct effect on the premium chargeable.
- Why is Personal Accident Insurance relevant for me?
- PA Insurance is generally a Benefit Policy. What does it mean to you and me?
- What are the common benefits in a PA insurance policy?
- Accidental death
- Permanent Total Disablement
- Temporary Disablement (Total or Partial)
- Medical expenses
- Double indemnity
- Hospital Cash
- Is PA insurance policy suitable for self-employed?
- Does it make sense for an employee to buy PA insurance policy?
- Is Travel Insurance policy the same as Personal Accident Insurance policy?
A Personal Accident (PA) Insurance is designed to provide financial protection and financial burden relief to you (the insured) against the risk of accidental death or bodily injury happening to you. Upon accidental death of the insured, this policy will pay a sum of money to his beneficiary (usually the dependent). Another important function is to help mitigate loss of potential future income and to fund additional expenses incurred due to any disability condition and therefore unable to conduct his usual occupation or work.
A Benefit Policy is a contract to pay a sum of money in the event of a certain contingency, irrespective of whether or not the insured sustains a financial loss. Hence, there is no need to prove the quantum of loss, unlike a contract of indemnity.
These are the common benefits in a PA insurance policy:
This type of insurance is of particular benefit to individuals who are self-employed and individuals with needs for financial protection against accident death, permanent total or partial disability, as well as for funds to meet with potentially huge medical bills especially for treatment in event of serious or protracted accidental bodily injuries.
It is not compulsory for companies to buy group insurance or corporate insurance (personal accident may be included) for the employees. For the same reason that any individual can be exposed to accidental risk at any time and place, an employee can be well prepared to handle accidental events by securing his own PA coverage.
Both policies offer coverage for accidental related risks in different ways.
Travel Insurance covers you against mishaps, expenses and liabilities during your trip out of Singapore.
Personal Accident Insurance covers you against the risk of accidental death, bodily injury or medical expenses within Singapore. In general you are covered while you are overseas for a period of 180 days from the day of departure from Singapore only. In this respect PA Insurance policy has limited worldwide geographical coverage.