Every spending situation is unique. SingSaver assembles the ‘Best For‘ list, so you can decide what’s best for you.
These renewable insurance standalones cost very little in defraying very large medical bills. Here are the best ones for you to consider.
Personal accident insurance typically falls under the ‘good-to-have’ section, but is one that shouldn’t be overlooked, simply because it provides great coverage at very low cost. The annual premium is also independent of your claims and you can choose to change providers each year if you wish to.
Another aspect of personal accident insurance that is often overlooked is the coverage provided for infectious diseases, something that has become increasingly important due to COVID-19. You might be glad to know that many personal accident insurance plans have also turned hybrid by including COVID-19 coverage. So, in a single plan, you can get benefits for mishaps of both the physical and the autoimmune kind.
Let’s look at what a personal accident plan really entails and compare the best plans out there.
- What a personal accident plan covers
- Who should get a personal accident plan
- Best personal accident plans on the market
What does a personal accident plan cover?
Simply put, a personal accident insurance policy is a type of general insurance that provides benefits in the case of accidental death, disability and injury. The benefits usually cover all phases of suffering an accident, from evacuation to hospitalisation and treatment, rehabilitation and recovery. In case of a fatality, personal accident plans also provide a death benefit.
When shopping for a personal accident insurance plan, make sure that the basics are covered. These include accidental death and disability, inpatient and outpatient coverage (several good plans include) as well as daily allowance for hospital stays.
(Note: Confused about the similarities and overlaps with term life and hospitalisation/MediShield plans? Check out this handy article.)
Who should take up personal accident insurance?
It could be your go-to plan if you want higher protection against unforeseen accidents in general. It could also be for all of you who are self-employed, regularly engage in outdoor activities and sports, or simply require higher payout for your family in case of accidental death.
You could also find personal accident plans useful if you frequently make visits to the TCM, physiotherapist or chiropractor. For example, if you actively play sports, engage in strenuous activities, or if you’re simply clumsy and sprain your ankle every once in awhile.
Best personal accident plans in Singapore
Here’s our roundup of the best personal accident insurance plans around.
|Plan name||Price (SGD)||Best for||Main Benefit:|
|Optional Riders||Other info|
|Starr Urban Cover Personal Accident Plan (Bronze)||S$136.96||Most value-for-money that covers all bases||S$100,000 coverage for accidental death and disability |
S$2,000 accidental medical reimbursement for both inpatient and outpatient medical expenses
S$1,000 monthly home mortgage reimbursement of up to 6 months in the event of an accident causing temporary total disablement
S$50 Daily Hospital Cash Benefit up to S$2000
|NA||S$500 monthly child tuition fee reimbursement of up to 6 months in the event of an accident causing temporary total disablement
S$500 monthly parental allowance payout of up to 6 months to parents over six months in the event of death caused by accident
S$50 monthly utility expense of up to 6 months in the event of an accident causing temporary total disablement
|AXA SmartPA Protect+ (Silver)||S$211.33||Sufficiently covering all the basics||S$150,000 for accidental death/permanent disablement|
Up to S$225,000 if accidental death was in public transport or while overseas
Outpatient medical expenses of up to S$2,000/accident
Post-accident therapy of up to $1,000/year
|S$2,000 for fractures|
S$50 daily hospital cash
S$1,000 home recuperation
S$10,000 emergency medical evacuation
|Higher limits for inpatient medical treatment at S$4,000|
S$15,000 third degree burns payout
|MSIG ProtectionPlus (Silver)||S$123.05||Affordability and high hospital cash benefit cap||S$100,000 for accidental death
S$150,000 for permanent and total disablement
Up to S$100,000 for permanent and partial disablement
S$50/day hospital cash benefit (capped at S$2,500)
|NA||Free cover for up to 3 children and 10% off your spouse’s premiums when you and your spouse enrol at the same time|
Bereavement grant of S$3,000
|Allianz Accident Protect (Silver)||S$179.76||High coverage and great for families with children||S$50,000 payout upon accidental death|
S$50,000 benefit for total permanent disability, or partial permanent disability
S$2,500 coverage for medical and surgical expenses per accident
S$2,500 for bereavement allowance
S$5,000 for mobility aids and home modification
|Upgrade to include Hospitalisation Benefit, Weekly Cash Benefits, or Dependent Cover Benefits||Enjoy a 10% premium discount for each year without a claim, up to a maximum of 30%|
Enjoy a 15% premium discount on the adult premium payable for all couple/family plans
|Sapphire Enhanced Choices (Standard) – AIG||S$170.13||Basic coverage plus flexibility, with different add-ons available||S$100,000 accidental death and permanent disablement|
S$2,000 accident medical reimbursement
S$4,000 mobility aid and ambulance services reimbursement
S$50 per day hospitalisation allowance (injury)
Up to 25% no claim bonus
|S$100 per visit for physiotherapy, S$750 for TCM treatment, and other riders available||Higher limits for inpatient medical treatment at S$4,000|
S$15,000 third degree burns payout
Free coverage of up to 25% of selected benefits for your children when you and your spouse are insured under the same policy
|GREAT Protector Active (Basic)||S$320||High coverage and multiple plans available for different needs||S$200,000 accidental death coverage
Up to S$600,000 coverage for accidental major permanent disablement
Up to S$3,000 accidental medical reimbursement
Enjoy up to 150% of payout with the benefit booster
|None||Does not include hospitalisation cash allowance, but covers insect bites, food poisoning and Hand Foot and Mouth Disease (HFMD)|
Starr Urban Cover Personal Accident Plan (Bronze)
At first glance, what stands out the most for the Starr Urban Cover Personal Accident Plan is the affordable premiums that start from S$11 a month for the Bronze plan. This plan is extremely value-for-money as it ranks second in affordability of the list.
Let’s start with the basics first. With the bronze plan, you’ll get S$100,000 coverage for accidental death and disability coverage, and S$2,000 accidental medical coverage for both inpatient and outpatient medical expenses. Though the coverage falls a little on the lower side, it is worth it for the affordable premiums.
Beyond the basic coverage, this plan is catered specially to working adults who are responsible for putting food on the table for your family. Imagine being disabled due to an accident and having to take on a prolonged no-pay leave. This would definitely eat into your finances, making it extremely difficult to commit to your financial commitments.
With these concerns in mind, Starr Urban Cover Personal Accident Plan takes care of other financial aspects that most may overlook. The plan provides a S$1,000 monthly home mortgage reimbursement and a S$500 child tuition fee reimbursement in the event an accident causes temporary total disablement. Not only that, but it also provides a parental allowance of S$500 if your death was due to an accident and even utility bills reimbursements of S$500 per month in the event of temporary total disablement.
If these coverage tiers are not enough, you can easily opt for a higher-tier plan like their Silver and Gold plans that offer higher coverage for better protection.
Annual premium: From S$136.96 (based on a 30-year-old working in a non-manual occupation. E.g. accountant).
AXA SmartPA Protect+ (Silver)
AXA understands that a good insurance plan is really all about going back to the basics, and then doing it well. AXA boasts a higher than average coverage at S$150,000 for accidental death and permanent disablement at the Silver tier, and goes up to S$1,00,000 if you opt for the Platinum-tier plan.
The medical expenses for inpatient and outpatient treatments are split: you get only S$2,000 coverage for outpatient medical expenses, while inpatient expenses coverage is double at S$4,000, for hospitalisations of more than 48 hours. On top of that, there is also a sub-limit of S$500 ambulance expenses per accident.
AXA also covers you S$5,000 for lifestyle maintenance and provides reimbursement of up to S$1,000 for mobility aids and home modification in the event of any disablement.
If you’ve got a child, you’ll be pleased to know that the AXA SmartPA Protect+ offers free child cover, and even a S$100 coverage per year for Hand, Foot & Mouth Disease that runs across all plans.
Read more about AXA’s personal accident plans.
Annual premium: From S$211.33 (Based on a 30-year-old working in a non-manual occupation. E.g. accountant).
SingSaver’s Exclusive AXA SmartPA Protect+ Promotion: Receive S$10 via PayNow. Enjoy a 20% discount on all plans and a 10% family discount (min. of two adults) when you apply. Valid till 31 December 2021. T&Cs apply.
Unlike the plans listed above that extensively cover infectious diseases, if you’re looking for a personal accident plan that focuses on, well, accidents, this is one for you to consider.
Where MSIG ProtectionPlus stands out is its high personal accident coverage of S$100,000 for accidental death, S$150,000 for permanent and total disablement and up to S$100,000 for permanent and partial disablement.
For the Silver plan, you also get up to S$1,000 worldwide medical expenses coverage which includes Traditional Chinese Medicine. Should you meet with an accident, you will receive S$200 daily hospital cash benefit for a maximum of 50 days.
Parents will be glad to know that MSIG ProtectionPlus includes coverage for up to three children for free, if both you and your spouse are policyholders. However, if only one parent is covered, the child premium would range from S$10.70 to S$26.75 depending on the plan’s tier.
Read our review of MSIG’s personal accident plan.
Annual premium: From S$123.05 (Based on a 30-year-old with no pre-existing illnesses or accidental injuries in the last five years working in a non-manual occupation. E.g. accountant).
MSIG ProtectionPlus Promotion: Receive S$10 via PayNow and a 30% discount when you apply. Valid till 19 December 2021. T&Cs apply.
Allianz Accident Protect (Silver)
Allianz’s Accident Protect is a do-it-all personal accident insurance plan. The Silver tier policy grants a S$50,000 payout upon accidental death, total permanent disability, or partial permanent disability.
But that’s not all, because the policy provides coverage for medical and surgical expenses to the tune of S$2,500 per accident.
And if you require mobility aids or home modifications after an accident, you’ll be happy to know that there’s coverage for these too. With regards to infectious diseases such as dengue fever or malaria, a S$200 lump sum payment will be disbursed upon diagnosis. Should you require additional protection, a number of riders are available as well.
These riders include hospitalisation and weekly cash benefits. Alternatively, Allianz Accident Protect has a built-in No Claim Bonus. A 10% discount off your premium is granted for every year that a claim is not made, for a maximum of 30%.
There’s also a 15% discount when you add your spouse and/or children into your policy to create a couple/family plan.
Lastly, Allianz Accident Protect boasts Gold, Platinum tiers and even a tier for children too, if you feel that you need greater coverage against infectious diseases or accidents.
Annual premium: From S$179.76 (Based on a 30-year-old working in a non-manual occupation. E.g. accountant).
Sapphire Enhanced Choices (Standard) – AIG
The Sapphire Enhanced Choices Standard plan by AIG covers all the bases, including S$100,000 for accidental death and permanent disablement, S$2,000 accident medical reimbursement and S$4,000 mobility aid and ambulance services reimbursement.
There’s also great flexibility to include add-ons for coverage such as physiotherapy treatments (up to S$100 per session) and TCM treatments (up to S$750) — an ideal solution if you are looking for coverage for alternative treatments.
While the Standard plan does not come with infectious diseases coverage, you can get such coverage when you add on the comprehensive benefits package.
If you’re looking for additional coverage, AIG offers a wide range of coverage tiers for their personal accident plan. Choose between the Sapphire Enhanced Choices Standard, Preferred, Deluxe, or Prestige.
The Sapphire Enhanced Prestige plan offers coverage of up to S$500,000 for accidental death and permanent disablement, S$10,000 for accidental medical reimbursement and S$250 per day daily hospital income for injuries.
If you and your spouse are insured under a single policy, your children enjoy free coverage of up to 25% for selected benefits.
Annual premium: From S$170.13 (Based on a 30-year-old working in a non-manual occupation. E.g. accountant).
Advanced Silver (Standard) – AIG
If you are looking after your elderly parents, or if you’re 40 years old and above, you could instead consider the Advanced Silver Standard plan. It comes with benefits that include the following:
- Up to S$40,000 for accidental permanent disablement
- Up to S$1,500 for fractures, dislocations, severe burns and specified injuries
- Up to S$1,500 caregiving support
- Up to S$1,500 mobility aid reimbursement
- Up to S$10,000 legacy expenses
- Up to S$18,000 for loss of independent existence due to injury and more
Annual premium: From S$113.42, but annual premium differs for each age band. (Based on a 50-year-old working in a non-manual occupation. E.g. accountant).
GREAT Protector Active (Basic)
A Great Eastern plan that provides solid coverage for personal accidents, the GREAT Protector Active comes with a lump sum payout of S$200,000 for accidental death and up to S$600,000 for accidental major permanent disablement. This is the highest coverage offered by the plans listed in this article.
Should you get injured, you receive up to S$3,000 accidental medical reimbursement. Your coverage is boosted up to 1.5 times payout when you are injured in a road traffic accident or while traveling in a public conveyance or while travelling overseas.
However, this plan does not include hospitalisation cash allowance. Instead, it has an accidental medical reimbursement benefit that provides up to S$3,000 per accident and up to S$500 per sickness, which includes insect bites, food poisoning and Hand Foot and Mouth Disease (HFMD).
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 are 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:
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4 Reasons Why You Need Personal Accident Insurance If You’re Into Sports
Infectious Diseases Insurance: Best Plans To Protect Yourself
Cheapest Personal Accident Insurance Plans For The Family (With Promos)
Personal Accident vs Life & Medical Insurance: What You Need to Know