Baby Isaac fell off the sofa recently and we decided that it would be safer for him to play more in the cot instead. Recently, we visited Marina Square to shop for bumpers. We browsed through Mothercare and Kiddy Palace (Marina Square’s great with them side by side!) and we eventually bought one. We always seem to be only catching up with the safety precautions he requires. Once he is able to starts walking well, I guess we have to baby-proof the rest of the house too.
However, injuries will never be fully avoided. It is after all part of learning. Once baby is past 6 months old, you may consider a PA plan.
2 main reasons why you need personal accident insurance in addition to IP for them
1. Your integrated shield plan (IP) will only pay for bills relating to hospitalization.
If there is a fall or a cut but the injury requires only treatment at your paediatrician’s clinic or a quick assessment in the A&E, it may not fall under “hospitalisation”. These bills though only a couple of hundreds of dollars can happen very frequently. They are NOT CLAIMABLE under your IP and require cash payments. The personal accident plan is meant to reimburse for such bills.
2. Your integrated shield plan (IP) will NOT PAY ANY compensation for any losses due to personal accident
Personal accident plans is primarily used to compensate for serious accidents. In such an event, a lump sum compensation will be paid to you as a benefit and you can claim from multiple plans if you have. This will help you defray rehabilitation/treatment cost that your child may incur.
Personal accident plans & how to get coverage for your child FREE!
The AIA star shield and Sompo PAJunior plans are specifically catered for children personal accident coverage. Do note that this list is not exhaustive as new plans come onto the market frequently. Great Eastern also has a plan (Junior Protector Plus) that you may explore.
Now analysing the plans:
|Reimburse||Sompo PASTAR ELITE (with family)||AIA Starshield Plan 1||Sompo PAJunior Teddy Plan|
|A)||Medical reimbursement yearly limit||$1,000||Medical reimbursement yearly limit||$1,500||Medical reimbursement yearly limit with food poisoning included||$2,500|
|Food poisoning, HFMD and dengue fever (Full limit)||Food poisoning, HFMD and dengue fever (Full limit)||Only food poisoning (full limit) – HFMD and dengue fever other section limit of $1,000|
|B)||Licenced chinese physicians & chiropractor||NIL||Licenced chinese physicians & chiropractor||Yes and $150 limit||Licenced chinese physicians & chiropractor||Yes and $150 limit|
|1)||Accidental dismemberment compensation||$50,000||Accidental dismemberment compensation||$20,000||Accidental dismemberment compensation||$100,000|
|2)||Daily hospital cash||NIL||Daily hospital cash for accident of $30/day for 180days. $30/day also for hospitalization from diseases||$5,400||Daily hospital cash for accident of $75/day for 200days. $50/day for 200 days for hospitalization from diseases||$15,000|
|Premium: FOC for kids if both parents in same plan. $79.18/y for each kid if only 1 parent in same plan.||Premium||$149.62/y||Premium||$197.95/y|
Reimburse (Need original bill)
Item A Medical reimbursement limits are important. This covers for treatment relating to A&E/GP clinic/other outpatient specialist. Such expenses, while not likely a large sum, are usually payable by cash. You will be surprised that food poisoning treatment is claimable also. HFMD is another common reasons parents claim on their kids policy.
Item B shows you coverage if you need chinese physicians or chiropractor to treat injuries or specified diseases. This includes “TuiNa” if there is a sprain for example. I’ve claimed this before and all you need is a licensed physician’s receipt to be produced.
Payout/Compensate (Can claim from multiple plans)
Items 1 and 2 in the table will compensate you (as policy holder) with a sum of insurance proceeds. This is to take care for catastrophic events that fingers crossed, we avoid for life.
I have presented the solutions in increasing levels of coverage. Sompo PAStar requires you to purchase coverage also while AIA Star Shield and Sompo PA Junior are standalone child PA plans. Personally, I subscribed the Sompo PAstar plan as a family and my son is covered FOC. Any number of children can be covered under this plan and do note that their limits are 25% that of yours for the covered benefits listed.
For more information from insurers:
It is ultimately your choice how much coverage you may want for your child. Coverage applies for accidents suffered anywhere in the world.
Benefits of purchasing these plans with us
- NO additional charges
- Ensure your insurance planning is accurate
- Helping you with your queries
- Assistance in claims
Our campaign and if you would like to purchase the Sompo PAStar plan as a family NOW
(5min needed only with 3 easy steps)
Why we are doing this campaign?
Before we describe the campaign, we would like to state that we are paid a commission by all insurers. Sompo PAstar plan is recommended solely because it is a competitive offering from our analysis and there are no additional charges going through with us. In addition, we can assist you administratively in future as your representative.
Though the commission amounts are meagre, we will still eek out a $2 donation for every case done through our broker portal. It will be made to Children’s Cancer Foundation online. The amounts are small and I hope we can do it simply on trust.
At any step, you can feel free to still purchase directly from the insurer or with any other broker.
Now, the 3 easy steps – choose plan, send your purchasing information and it will be completed for you
Step 1: Check out which occupational category you are in
Contact me at firstname.lastname@example.org if your are unsure. Premium rates increase with occupational risk and we have to declare honestly. All office based jobs are Class 1.
Step 2: Check out which plan level you want and the premium.
I would suggest “ELITE” if you are driving on the roads or play sports actively. Either in my opinion is a higher accidental risk lifestyle. You may consider “STANDARD” if you want basic coverage.
Step 3: Email me at email@example.com with ALL family members you are applying for
- Name, IC, Date of birth for ALL
- Your address and handphone and email
- Occupation for ALL (For your child just indicate NA)
- Premium of plan chosen (example $281.41 for yourself)
- Credit card details
– credit card 16 digits– name on card– validity month/year
There is no need for credit card security code and OTP as I will be using my online intermediary secure gateway to make the application for you.
Policy can be issued instantaneously and an SMS will be sent to you when confirmed.
Dear Policy Admin,
The payment is successful.
Assured Name:TAN JIAN LIANG
Do email me personally if you have questions on PA plans or if you encounter any issues in the application process. Thank you.
The author is an independent financial planner and not a direct representative of any of the insurers. The author has distribution for both AIA and SOMPO products and receives commission from the insurers. The author is covered by Sompo’s PAstar plan personally.