When i was trying to do some planing for myself and my family, I could not find a good review on available personal accident plans in the market. Hence i came up with my own comparison and I thought I would share mine with everyone. This comparison is solely my own criteria done up at my best effort to obtain the my opinion of the best Personal Accident Plan (PA Plan). Do note that does not fully represent each plan coverage. If you would like to comment or disagree, feel free to comment below.
In my personal opinion, the primary key of PA Plan must cover the infectious diseases. Death and TPD by accidents are secondary elements. I am not saying that they are not important, I guess having a certain small cover is sufficient. I placed higher emphasis other aspects such as Infectious Diseases, Daily Hospital Income benefit and TCM reimbursement. In the table comparison below, I have only extracted out PA Plans that covers infectious disease.
Despite a PA Plan are not expensive to begin with, I do not think we should waste that additional $50 to over-protect ourselves or buying a plan to “support” a friend. The rule compounding of the $50 bucks per year can grow into something more meaningful in a long run. Double or Triple indemnity in death or TPD by accidents does not earn another dime from me.
If you are looking for simple PA plan with basic Death and TPD benefit, you can hop over to Aviva SAF Group PA Plan that only cost $1 per month.
Personal Accident Comparison
|Agency||NTUC Income - Personal Accident Insurance||Sompo - PA Star||Great Eastern - Junior Protector Plus||AIA - Star Protector Plus||Aviva - Personal Accident Lite||FWD||Etiqa - ePROTECT safety|
|Premiums (For adults)||$217||$101.65||$162.00 (Plan only applicable for kids)||$149.62 (Plan only applicable for kids)||$270||$90 (Plan only applicable for adults above 18 years old)||$150|
|Premiums discounts for Kids if Parent is also covered with the same plan.||40% off||$26.75 for kid at 25% coverage (if 1 parent is covered with this plan)|
Free if both parents are covered with this plan.
|$162.00 (Plan only applicable for kids)||$149.62 (Plan only applicable for kids)||$190 for Family Plan to cover 2 Parent and 1 Kids - Kids only have 50% coverage||$30 for kid at 20% coverage|
|Medical Expenses Reimburses||$2k||$2k||$2k||$1.5k||$3k||$2k||$2k|
|TCM||$500||(Licensed) $150 per visit||$150||$500||$500||$150 per visit|
|Daily Hospital Income (per day)||$100 (upto 365days)||$50 (upto 365days)||$40 (upto 180days)||$30 (upto 180 days)||$50 (upto 30days)||$50 (upto 180days)|
|Weekly Hospital Income (per day)||$100 (upto 104 weeks)||$50 (upto 104 weeks)||S$200/week (or $28.57 per day) (up to 104 weeks)|
|Ambulance Fee||$200||Transport allowance of $20 per bill. (Max $60)||$200||$500||$200|
|HFMD||Y||Y||Y ($50) + $50 per day in Hospital||Y (Recuperation benefit: max $50 every 2 years)||Y||Y||Y|
|Dengue||Y||Y||Y ($50) + $50 per day in Hospital||Y (Recuperation benefit: max $50 every 2 years)||Y||Y||Y|
|Food Poisoning||Y||Y||Y ($50) + $50 per day in Hospital||Y||Y||Y||Y|
FWD also offers a Family plan where you can indicate how many adults and children to cover, and their online web portal will generate a quote or you. However, do note that the child is only covered with 50% sum insured.
You may not agree with me, feel free to comment your thoughts below. Thank you!