AXA Personal Accident Insurance Cover Review | SingSaver

AXA Personal Accident Plans: Which One is Right for You?

|Posted by | Insurance
Tags: , , , ,

AXA’s personal accident plans may look similar at first glance, but each has its own special features. Here’s a side-by-side comparison to help you find the right one.  

As a veteran in Singapore’s highly competitive insurance sector, AXA has developed a comprehensive suite of products in a bid to capture as many clients as possible. While this can be a boon for those looking for a particular level of protection, it can leave the rest of us a little lost. 

Take, for example, its personal accident category. With a total of four different policies, it can be tricky trying to work out which one you should get because personal accident plans tend to sound alike. 

But we’re here to help. In this article, we’ve done a side-by-side comparison of AXA’s four personal accident plans, highlighting their differences and their key features. 

Read on to find out which (if any) of these plans are the best fit for you – both in terms of benefits and budget.

AXA personal accident plans at a glance 

Name of plan Summary of plan Base coverage Add-ons 
AXA Band Aid Personal accident plan with 1.5x permanent disablement benefits, 2x benefits for public transport, and 3x benefits for air transport. Accidental Death: Up to S$500,000
Accidental Permanent Disability: 1.5x of Accidental Death benefit
Public transport: 2x benefits
Air transport: 3x benefits
Child cover: 10% of benefits, up to 3 children (only for highest tier plan) 
Medical expenses (diagnosis of selected diseases)
Broken bones benefits
Home modification reimbursement
Accident medical reimbursement
Weekly benefits on disablement
Daily accident hospitalisation income
SmartPA Protect+ High-end personal accident plan with top-tier benefits and comprehensive coverage  Accidental Death or Permanent Disablement: Up to S$1 million
1.5x death benefits while overseas or on public transport
Third-degree burns: Up to S$100,000
Medical expenses: Up to S$10,000 per accident
Post-accident therapy: Up to S$5,000 per year
Temporary total disablement: Up to S$1,000 per week
Lifestyle maintenance: Up to S$10,000 per year
Child cover: 20% of sum assured, + S$100 cover for Hand, Foot and Mouth Disease per year
Fractures benefits
Daily hospital cash allowance
Home recuperation benefit
Emergency medical evacuation/repatriation
Family shield (lump-sum benefit for surviving spouse, children or parent)
Funeral expenses
Loan protector
Increase child cover to 50% of Sum Assured
SmartPersonal Accident Basic personal accident plan with highly customisable add-ons that can significantly boost its benefits Accidental Death or Permanent Disablement: Up to S$300,000
Compassionate allowance: Up to S$3,000
Accidental medical expense: Up to S$6,000 per year
Child cover: Free (10% of Sum Assured), Paid (50% of Sum Assured)
 
Increase sum assured for Accidental Death or Permanent Disablement
Weekly benefit for temporary disablement
Daily hospital cash allowance
Healthcare assistance for serious injury
Recovery support
Lifestyle protection (loans and income)
Dependents cover
SmartCare Prime Well-rounded personal accident plan with 2x benefits for public transport and natural disasters Accidental Death or Permanent Disablement: Up to S$300,000
Public transport or natural disasters: 2x benefits
Temporary total disablement: Up to S$300 per week
Temporary partial disablement: Up to S$150 per week
Compassionate cash relief: Up to S$3,000
Accidental medical expenses: Up to S$5,000 per year
Daily hospital allowance: Up to S$300 per day (max 50 days)
Income protection: Up to S$30,000
Loan protection: Up to S$3,000
Children’s education fund: Up to S$10,000 per child
Parents’ Shield: Up to S$8,000 per parent (max 2 parents)

-nil-

AXA Band Aid

AXA Band Aid focuses on providing cover against accidental death and disablement. It has a high sum assured of up to S$500,000 (for the highest tier plan), and this is further increased under specific circumstances.

However, the base plan doesn’t offer very much more outside of this main benefit, but you can opt for up to six optional benefits that extend the plan to provide some additional coverage.

Increased benefits for permanent disablement, public transport and air transport

In case of permanent disablement arising from an accident, you will receive 1.5 times of the sum assured. 

This increases to two times for incidents on public transport, and three times for incidents involving air transport. 

Other notable benefits

AXA Band Aid also offers up to six different add-ons that provides the following benefits:

  • Yearly medical expense for selected disease (such as Hand, Foot and Mouth Disease)
  • Yearly broken bones benefits
  • Home modification reimbursement (selected tiers only)
  • Accident medical reimbursement (for outpatient, follow-up treatments)
  • Weekly disability benefits (selected tiers only)   
  • Accident daily hospital allowance (selected tiers only)

Premiums for AXA Band Aid

Here’s a summary of the yearly premiums for AXA Band Aid:


Plan 1Plan 2Plan 3
Occupational Class 1S$101S$201S$503
Occupational Class 2S$110S$220S$551
Add-ons (Class 1)Up to S$94Up to S$150Up to S$527
Add-ons (Class 2)Up to S$103Up to S$165Up to S$580

SmartPA Protect+

SmartPA Protect+ is AXA’s heavyweight in its personal accident lineup, designed for those seeking high sums assured in a robust and comprehensive plan. 

The base policy provides top-tier cover – boosted for incidents happening overseas or on public transport – that not only focuses on the incident, but also the aftermath, bundling benefits for post-accident therapy, third-degree burns, and other contingencies. 

On top of that, you can also opt for an add-on pack which further extends your courage to include benefits for loan and family protection, funeral expenses, emergency medical evacuation and repatriation, and more. 

Highest sums assured for personal accidents

SmartPA Protect+ offers the highest sums assured of up to S$1 million for accidental death or permanent disability. This benefit is increased by 1.5 times if the incident occurred while taking public transport or when overseas.

In addition, the plan provides up to S$100,000 sum assured for third-degree burns, S$10,000 per accident for hospital expenses, and S$5,000 for post-hospitalisation therapy per year.

Other notable benefits

The plan also provides:

  • Lifestyle maintenance of up to S$10,000 for mobility aids and home/vehicle modifications
  • Free child cover at 20% of sums assured (increased to 50% through add-on bundle)
  • Lump-sum benefit of S$30,000 for any surviving spouse, parent or child (add-on bundle)
  • Lump-sum benefit of S$30,000 for any outstanding loans (add-on bundle)

Premiums for SmartPA Protect+

Here’s a summary of the yearly premiums for SmartPA Protect+:


SilverGoldPlatinum
Yearly premiumsS$324.90S$854.10S$2,297.70
Add-on packageS$298.90S$298.90S$298.90

SmartPersonal Accident

Maybe you prefer to have a personal accident plan that you can customise, so as to achieve a better fit for your changing life stages. In that case, do have a look at SmartPersonal Accident.

While the base plan focuses on providing cover against accidental death and permanent disablement, along with modest benefits for medical expenses and compassionate reasons, the plan also comes with seven additional coverage areas you can tweak to meet your needs. 

This allows you to have a highly flexible plan that lets you pay for only the benefits you want.

Increase base sum assured

This plan provides up to S$300,000 sum assured for accidental death and permanent disability, but you can increase this to your liking. Applicants may raise their sums assured in steps of S$100,000, up to a maximum additional coverage of S$700,000. 

You can use this add-on to increase your sum assured while choosing a lower tier plan to help keep your premiums low. 

Other notable benefits

The plan’s eligible add-ons also provide:

  • Child education fund – S$10,000 per child (maximum three children)
  • Parent’s shield – S$8,000 per parent (maximum two parents)
  • Child’s guardian cover – S$1,000
  • Daily hospital cash allowance (up to 90 days) – S$300 

Premiums for SmartPersonal Accident

Here’s a summary of the yearly premiums for SmartPersonal Accident:


SilverGoldPlatinum
Adult (non-manual occupationS$94.16 S$188.32 S$282.48
Adult (manual occupation)S$131.82 S$263.65S$395.47
Paid child coverS$61.20 S$122.41S$183.61

SmartCare Prime

Designed for those who rely primarily on public transport when getting around, the SmartCare Prime personal accident policy offers two times for accident death and permanent disability for incidents occurring on public transport. 

The same benefit also kicks in in cases of natural disasters, such as earthquakes, hurricanes, etc, providing an added layer of benefits for overseas occurrences.

Considering that the base sum assured for this plan can go as high as S$300,000, the potential of this plan should not be overlooked. 

Another highlight of this policy is the included benefits for temporary disablement, which can come in handy in case of loss of income. 

Medical benefits and hospitalisation allowance included

SmartCare Prime also bundles in up to S$5,000 per year of medical expenses benefit in case of any accidents. Additionally, you’ll also be awarded up to S$300 in daily allowance when you’re warded for a hospital stay for a maximum of 50 days per incident. 

Other notable benefits

This plan also provides:

  • Temporary total disablement: Up to S$300 per week (maximum 104 weeks)
  • Temporary partial disablement: Up to S$150 per week (maximum 104 weeks)
  • Income protection: Six months, up to S$30,000
  • Loan protector: Up to S$3,000
  • Child education fund: S$10,000 per child (maximum three children)
  • Parent’s shield: S$8,000 per parent (maximum two parents)

Premiums for SmartCare Prime

Here’s a summary of the yearly premiums for SmartCare Prime:


SilverGoldPlatinum
InsuredS$186S$328S$468
SpouseS$168S$288S$418
Each childS$68S$128S$188

Protected up to specified limits by SDIC.

Note: This is only product information provided. You may wish to seek advice from a qualified adviser before buying the product. If you choose not to seek advice from a qualified adviser, you should consider whether the product is suitable for you. Buying an insurance product that is not suitable for you may impact your ability to finance your future healthcare needs.

If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and the insurer may recover from you any expense incurred by the insurer in underwriting the policy.

Read these next:
Personal Accident Insurance: What Does It Cover and Should You Buy One?
6 Situations You Never Knew Personal Accident Insurance Plans Cover
5 Reasons Why Every Millennial Needs Personal Accident Insurance
4 Reasons Why You Need Personal Accident Insurance If You’re Into Sports
5 Types of People Who Must Get Personal Accident Insurance


By Alevin Chan
An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.