These renewable insurance standalones cost very little in defraying very large medical bills.
In case you are looking out for protection against infectious diseases, something that has become increasingly commonplace, you might be glad to know that many personal accident insurance plans have turned hybrid by including COVID-19 coverage.
So yes, in a single plan, you’ve got 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 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 physiotherapy and Traditional Chinese Medicine aka TCM treatments) as well as a per diem benefit 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.
Best personal accident plans in Singapore
Here’s our roundup of the best personal accident insurance plans.
|Plan name||Price (SGD)||Main Benefit: |
Infectious diseases coverage
|Optional Riders||Other info|
|AXA SmartPA Protect+ (Silver)||$158||Only Hand, Foot, Mouth Disease for children||$150,000 for accidental death |
$225,000 for TPD
|$2,000 for fractures|
$50 daily hospital cash
$1,000 home recuperation
$10,000 emergency medical evacuation
|Higher limits for inpatient medical treatment at $4,000|
$15,000 third degree burns payout
|MSIG ProtectionPlus (Silver)||$123.05||NA||$100,000 for accidental death
$150,000 for permanent and total disablement
Up to $100,000 for permanent and partial disablement
$50/day hospital cash benefit (capped at $2,500)
|None||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 $3,000
|GREAT Protector Active (Basic)||$320||NA||$200,000 accidental death coverage
Up to $600,000 coverage for accidental major permanent disablement
Up to $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)|
|NTUC Income PA Assurance||$198||21 infectious diseases covered||$100,000 for Accidental death |
$150,000 for permanent disability
$100/day hospital cash (up to 365 days)
|Upgrade to include infectious disease coverage||Occupational loading for hazardous jobs|
|FWD Personal Accident and Infectious Disease Coverage X Singsaver||$98||COVID-19 + 23 infectious diseases |
$1,000 for COVID-19/ Infectious Diseases related medical expenses in Singapore
$50,000 for death due to COVID-19 / Infectious Diseases
|$100,000 for accidental death and TPD|
$2,000 for accident-related medical expenses (local)
$50/day hospital cash
|None||Only plan with $50,000 death coverage from COVID-19 payout|
No occupational loading for hazardous jobs
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. The foundation coverages of accidental death and total permanent disability is higher than average at $150,000, and the medical expenses for in and outpatient treatments are split: although you get only $2,000 for outpatient ones, inpatient expenses coverage is double at $4,000.
AXA SmartPA also bundles COVID-19 benefits given this year’s spate of events. COVID-19 related cause of death pays out $20,000 and hospitalisation offers daily income of $200 a day (for up to 90 days).
Annual premium: From $158
AXA SmartPA Protect+ Promotion: Receive $10 via PayNow when you apply. Valid from 1 – 30 June 2021. Terms and conditions apply.
Enjoy a 10% family discount when you apply. Minimum for 2 adults. Valid from 1 – 30 June 2021. Terms and conditions 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 $100,000 for accidental death, $150,000 for permanent and total disablement and up to $100,000 for permanent and partial disablement.
For the Silver plan, you also get up to $1,000 worldwide medical expenses coverage which includes Traditional Chinese Medicine. Should you meet with an accident, you will receive $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 $10.70 to $26.75 depending on the plan’s tier.
Annual premium: From $123.05
MSIG ProtectionPlus Promotion: Receive $10 via PayNow and a 20% discount when you apply. Valid from 1 – 30 June 2021. Terms and conditions apply.
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 $200,000 for accidental death and up to $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 $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 $3,000 per accident and up to $500 per sickness, which includes insect bites, food poisoning and Hand Foot and Mouth Disease (HFMD).
The battle of Great Eastern’s personal accident plans: Which is best for you?
Besides the GREAT Protector Plus, Great Eastern has a range of personal accident plans under their belt that could better cater to your needs:
|Plan Name||Price (per year)||Designed For||Main Benefits||Other inclusions and information|
|Essential Protector Plus (Plan A)||$227.91||Women and those looking for guaranteed acceptance||– $50,000 accidental death coverage
– Up to $50,000 for permanent disablement
– Up to $5,000 accidental medical reimbursement, including TCM and chiropractic treatments with a limit of up to S$500 reimbursement for each and every accident
– Up to $4,000 for fractures, dislocations or burns
– $100 per day hospital income benefit for accidents, dengue haemorrhagic fever and food poisoning
|Women enjoy extra 20% coverage for hospitalisation benefit and the sum assured for accidental death and permanent disablement|
Medical expenses coverage are doubled if the accident happens overseas
|GREAT Protector Active (Basic)||$320||High coverage for death and permanent disablement||– $200,000 accidental death coverage
– Up to $600,000 coverage for accidental major permanent disablement
– Up to $3,000 accidental medical reimbursement
|Enjoy up to 150% of payout with the benefit booster|
Does not include hospitalisation cash allowance, but covers sickness due to insect bites, food poisoning and Hand Foot and Mouth Disease (HFMD)
Can be purchased from 1 year old*
|GREAT Junior Protector (Plan A)||$248||Children — providing them with coverage against accidents, food poisoning and infectious disease||– $25,000 accidental death coverage
– Up to $3,000 medical expenses reimbursement
– Up to $3,000 for fractures, dislocations or burns
– $50 per day hospital cash
– Covers 41 infectious diseases, including COVID-19 and Dengue Fever
|Includes a $25,000 education assurance fund that your child (below 21 years old) receives upon your accidental death|
Can only be renewed, and not purchased, after the age of 16 years
|GREAT Golden Protector (Plan A)||$298||Pre-retirees aged 40 and above||– $30,000 accidental death coverage
– Up to $45,000 coverage for accidental major permanent disablement
– Up to $2,000 accidental medical reimbursement
– Up to $8,000 for fractures, dislocations or burns
– $100 hospital cash per day for accident, food poisoning, infectious disease or HFMD
|Minimum entry age of 40 years* and highest entry age of 75 years*|
Family discount of 25% on premiums when you add a spouse to your policy
*All ages specified refer to age next birthday.
While the plans listed above highlight the basic tiers for each type of personal accident plan, you can always opt for a higher tier plan to enjoy increased coverage and benefits.
NTUC Income PA Assurance
If you’re looking for something more comprehensive with higher coverage for yourself and your family, NTUC’s Income PA is one to assure them with. It has all of the expected entry-level coverage, such as $100,000 in accidental death benefit and $2,000 in medical expenses. For a top-up of its $19 rider, you enjoy bumper protection against 21 infectious diseases (including COVID-19)—the closest to FWD’s list of 24.
The rider also includes a unique child support fund of $5,000, diagnostic procedures and tests (up to $1,000), physiotherapy (up to $1,000), ambulance fee, weekly cash allowance and more.
The comprehensiveness of the coverage, however, comes with a price—for new policyholders at least.
Annual premium: From $198
FWD Personal Accident and Infectious Disease Coverage
Like I mentioned earlier, infectious diseases (namely COVID-19) have taken on a life of its own recently, and insurance protection against these threats are increasingly being merged into personal accident plans. One model example is the cutting edge FWD Personal Accident and Infectious Disease Coverage, launched exclusively by SingSaver and FWD Singapore.
The standard death and TPD payout of $100,000 may come across run of the mill, but you’d be hard-pressed to find one with a higher death coverage from COVID-19 of $50,000, for the going premium of $98/year. It’s the first plan to offer the widest coverage of infectious diseases compared to others; other than COVID-19, Dengue fever, Zika, SARS and Hand, Foot & Mouth Disease make up part of the 24 infectious diseases covered on the list.
There’s an up-to-$100 daily hospital income benefit for up to 365 days, for ICU victims. FWD Personal Accident and Infectious Disease Coverage is also perfect for workers in risky professions like construction and transport; there’s no occupational loading, meaning you don’t get ‘penalised’ with heftier premiums just because you derive satisfaction from laying bricks.
Read more about the plan’s comprehensive coverage here.
Annual premium: From $98
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:
Insurers Now Cover Allergic Reactions From COVID-19 Vaccination
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
By Ana Ow
Ana has been a travel writer for various news outlets since 2007 and has a passion for crossing things off her bucket list (tiger safari in India, checked; meeting with the Dalai Lama in Ladakh, checked; Northern Lights sighting in Norway, checked thrice). She loves collecting visits to UNESCO World Heritage Sites (preferably with her husband and two children) and is obsessed with Disney parks and cruises.