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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|
|AXA SmartPA Protect+ (Silver)||S$169.06||Sufficiently covering all the basics||S$150,000 for accidental death |
S$225,000 for TPD
|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
|AIG Sapphire Enhanced (Standard)||S$170.13||Basic coverage plus flexibility for different add-ons||S$100,000 accidental death total disablement|
S$2,000 accident medical reimbursement
S$4,000 mobility aid and ambulance services reimbursement
S$50 /day hospitalisation allowance (injury)
|S$100 /visit for physiotherapy, S$750 annually for TCM treatment and other riders available||Higher limits for inpatient medical treatment at S$4,000|
S$15,000 third degree burns payout
|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)|
|NTUC Income PA Assurance||S$198||Daily hospital cash and coverage for infectious diseases||S$100,000 for Accidental death |
S$150,000 for permanent disability
S$100/day hospital cash (up to 365 days)
S$1,000 for physiotherapy
|Upgrade to include infectious disease coverage||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. 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$158
AXA SmartPA Protect+ Promotion: Receive S$10 via PayNow and a 10% family discount (min. of two adults) when you apply. Valid from 1 – 30 September 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 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
MSIG ProtectionPlus Promotion: Receive S$10 via PayNow and a 30% discount when you apply. Valid from 1 – 30 September 2021. Terms and conditions apply.
AIG Sapphire Enhanced (Standard)
AIG’s Sapphire Enhanced Standard plans covers all the bases, including S$100,000 for accidental death total 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 (S$100 per session) and TCM treatments (S$750 total) — great for those that are looking for coverage for alternative treatments.
While the Standard plan (Basic) 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 AIG Sapphire Enhanced Standard, Preferred, Deluxe or Prestige. The AIG Sapphire Enhanced Prestige 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 up to 20% or 25% of the first three benefits.
Annual premium: From S$170.13
AIG Advanced Silver (Standard)
For those looking after your elderly parents, or if you’re 40 years old and above, you could instead consider the AIG Advanced Silver (Standard) that comes with benefits including:
- S$40,000 for accidental permanent disablement
- S$1,500 for fractures, dislocations, severe burns and specified injuries
- S$1,500 caregiving support
- S$1,500 mobility aid reimbursement
- S$10,000 legacy expenses
- S$18,000 for loss of independent existence due to injury and more
Annual premium: From S$113.42 for 40 to 69 years old and gets more expensive after that age band
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).
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)||S$227.91||Women and those looking for guaranteed acceptance||– S$50,000 accidental death coverage
– Up to S$50,000 for permanent disablement
– Up to S$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 S$4,000 for fractures, dislocations or burns
– S$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)||S$320||High coverage for death and permanent disablement||– 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|
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)||S$248||Children — providing them with coverage against accidents, food poisoning and infectious disease||– S$25,000 accidental death coverage
– Up to S$3,000 medical expenses reimbursement
– Up to S$3,000 for fractures, dislocations or burns
– S$50 per day hospital cash
– Covers 41 infectious diseases, including COVID-19 and Dengue Fever
|Includes a S$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)||S$298||Pre-retirees aged 40 and above||– S$30,000 accidental death coverage
– Up to S$45,000 coverage for accidental major permanent disablement
– Up to S$2,000 accidental medical reimbursement
– Up to S$8,000 for fractures, dislocations or burns
– S$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 S$100,000 in accidental death benefit and S$2,000 in medical expenses. For a top-up of its S$19 rider, you enjoy bumper protection against 21 infectious diseases (including COVID-19)—the closest to FWD’s list of 24.
NTUC’s PA plan also comes with great coverage for physiotherapy (up to S$1,000), trauma counseling expenses (up to S$5,000) and up to S$500 per accident for treatment by a TCM practitioner or a chiropractor.
The rider also includes a unique child support fund of S$5,000, diagnostic procedures and tests (up to S$1,000), physiotherapy (up to S$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 S$198
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