What is Personal Accident Insurance?
A personal accident plan is an insurance plan designed to provide coverage against injuries, disabilities, and death caused by accidents.
3 main categories these plans cover:
- Accidental death benefits
- Permanent or temporary disability caused by accidents
- Medical expenses and hospitalisation benefits as a result of accidents
Some providers may include these optional benefits to their plans:
- Medical expenses as a result of Infectious diseases such as dengue and Covid-19
- Overseas repatriation
- Disability income as a result of an accident
What defines an accident?
An incident that happens unintentionally and suddenly, typically resulting in damage or injury.
Best personal accident plans
High medical expenses claim at a low premium: Tokio Marine TM 365 Plan B, Sompo PA Star Deluxe
Best if you prefer alternative treatments, e.g. Traditional Chinese Medicine (TCM) and chiropractors: HSBC Life Smart PA Protect+, Income PA Assurance, Tokio Marine TM 365
Wide coverage of Infectious diseases: Income PA Assurance, Sompo PA Star
Best for older folks: AIG Personal Accident Plan for 50+, Tokio Marine TM 365
Best for those with hazardous occupations: Income PA Assurance Plan
Best for those with a tight budget: Tokio Marine 365 Plan A, Singlife Personal Accident Lite
Compare Personal Accident Plans
| Plan name | MSIG Protection Plus | Tokio Marine TM 365 | Ready Protect | PA Star | Liberty PACare Plus – Enhanced | PA Assurance | SingLife Personal Accident | SmartPA Protect+ | PruPersonal Accident | GREAT Protector Active | Advanced Silver | |
| Plan type | Silver | Plan B | Accelerate | Deluxe | Economy | Plan 1 | Lite | Silver | Plan B | Basic | Standard | |
| Accident Death | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $150,000 | $200,000 | $200,000 | $30,000 | |
| Accident Disablement | $150,000 | $150,000 | Up to $600,000 | |||||||||
Medical expenses for accidental injury | Claim limit | $1,000 per year | $4,000 per accident | $2,000 per accident. Double while overseas | $3,000 per accident | $3,000 per accident | $2,000 per accident | $3,000 per year | Without hospitalisation: $2,000 per accident With hospitalisation: $4,000 per accident | $2,500 per accident | $3,000 per accident | $1,000 per accident |
| 12 months from accident | 12 months from accident | 12 months from accident | 12 months from accident | 12 months from accident | 12 months from accident | 12 months from accident | 12 months from accident | 12 months from accident | 12 months from accident | |||
| Traditional chinese medicine (TCM) / Chiropractor / Physiotherapy | Sub-limit of medical expenses benefit – TCM/Chiropractor: Up to 50% of this benefit, up to $75 per visit per day | Sub-limit of medical expenses benefit – TCM / Chiropractor: $1,000 | TCM / Chiropractor : $500 | Sub-limit of medical expenses benefit – TCM / Chiropractor: $300 per Accident (up to $50 per visit) subject to max. $600 per Policy Year – Physiotherapy: $1,000 per accident | TCM / Chiropractor/Physiotherapy : $400 per accident | TCM / Chiropractic Treatment: $500 per accident Physiotherapy: $1,000 per accident | Sub-limits of medical expenses benefit – TCM / Chiropractor: S$50 per day up to $500 – Physiotherapy: $1,000 | TCM / Chiropractor/Physiotherapy : $1,000 per accident, up to $70 per visit per day | Sub-limit of medical expenses benefit – TCM / Chiropractor: $500 | Sub-limit of medical expenses benefit – TCM: $1,000 | Sub-limits of medical expenses benefit – TCM / Chiropractor: S$100 per day up to $500 | |
Hospital allowance | Normal ward | $50 per day up to S$2,500 | $100 per day | With additional premiums | $100 per day up to 365 days | $100 per day up to 90 days | $100 per day up to 365 days | $50 per day up to 365 days | NA | With additional premiums | NA | $50 per day up to 30 days |
| ICU | $200 per day | $200 per day up to 90 days | $100 per day up to 30 days | |||||||||
| Weekly cash income | Up to $100 per week up to 104 weeks | Up to $100 per week up to 104 weeks | $100 up to 104 weeks in a row | Up to $100 per week up to 104 weeks | $100 up to 104 weeks in a row | With additional premiums | With additional premiums | With additional premiums | NA | |||
| Children coverage | Optional, Child coverage is 50% of adult coverage | If both parents take up the policy together together, the child is covered for 30% of the parents’ sum insured. If only one parent takes up the policy,the child is covered for 10% of parent’s sum insured. | Yes | Free children cover up to 30% of sum insured | Child enjoys 20% of your cover and additional cover for Hand, Foot, and Mouth Disease. For paid child cover, child coverage is 30% of adult coverage | Optional | NA | |||||
| Family discount | Yes | Yes | Yes | Yes | Yes | NA | ||||||
| Annual Premium (GST inclusive) | Class 1 occupation | $124.20 | $140.40 | $173.00 | $194.40 | $203.04 | $219.03 | $282.62 | $213.30 | $272.53 | $323.00 | $637.20 |
Plans are listed from lowest to highest premiums, except for AIG Silver Standard plan which is designed for retirees.
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What does it cover?
Accidental death or permanent disability benefits
A lump sum will be paid out should the worst happen. This amount can help to supplement the income loss to you and your family. The full sum assured will be paid and you have discretion on how you would like to spend it.
Income replacement
Should a temporary disability occur, a cash income—usually $100-$300 per week—will be paid to you.
Medical expenses and hospitalisation coverage as a result of accidents
This is a key benefit for most people who purchase personal accident plans. You are able to reimburse medical bills incurred as a result of an accident. This covers costs such as doctor’s consultation, X-rays, MRI, scans, TCM, physiotherapies and chiropractic treatments. Typically, these are not covered by your typical hospitalisation plan, which often only covers hospital stays, not outpatient costs.
Some providers may extend their benefits to cover additional benefits such as:
Infectious diseases such as Dengue and Covid-19
Infectious diseases and insect bites are not considered as accidents per se. But most insurers extend their personal accident benefits to cover these incidents. Dengue benefits can be useful to those living in hot dengue zones
Overseas repatriation
Accidents can happen anywhere. A comprehensive accident plan can provide additional coverage while you travel abroad. In a serious accident, chartering a flight to bring patients back home safely will be costly and this benefit can help to offset the large transportation cost.
Read more: Do I Need a Personal Accident Plan if I Already Have Life Insurance?
Frequently asked questions (FAQ)
What happens if I have company insurance too?
If you are already insured by your company for medical expenses, the same bill cannot be claimed against your personal accident policy, and vice versa.
However, accidental death or disability lump sum payouts and weekly income can still be paid on top of other insurance payouts, including company insurance.
If I have a personal accident policy, does this mean I don’t need a medical plan?
A comprehensive medical insurance plan is more essential than a personal accident policy. If you are starting out with your insurance planning, prioritise getting yourself covered for major hospitalisation bills before looking into personal accident policies.
This ensures you are well prepared for larger medical bills caused both by accidents and illness that can deplete your savings.
Read more: Best Integrated Shield Plans in Singapore
Would my Personal Accident insurance cover me outside of Singapore?
Yes, most personal accident insurance policies cover overseas bills as long as they’re caused by an accident. However, there is a limit to the number of days that you can be outside of Singapore before the coverage expires.
Do I Need Personal Accident Insurance?
As an optional add-on to medical and life insurance coverage, you should only purchase if you are able to afford the additional premiums.
Life insurance plans provide lump sum payouts upon death or total and permanent disability (TPD). If you have a personal accident plan, it’ll pay out together with a life insurance plan in the event of an accidental death or TPD.
So if you are in a physically riskier occupation or indulge in high impact hobbies, it will be good to buy a personal accident plan as additional protection for you and your family
Choose a plan that suits your needs most, at a budget that you are most comfortable paying for.