Last updated on March 28th, 2018 at 03:46 pm
Why do we have this post? We have personally recommended these to our existing clients.
We go beyond an platform aggregator to show you qualitative & unbiased comparisons.
How to get coverage for your child FREE! With new launch and promotion updates!
Wait, why an exclusive plan?
We believe in being transparent and helping you make informed decisions. However, we have been informed by the insurer to follow marketing agreements and provide information on this plan privately. Nonetheless, we strongly believe it provides you better coverage than most plans out there.
Top 3 FAMILY Personal Accident Plans based on coverage to cost analysis
- Comparison only for non-manual occupation rates
We have highlighted the most important components of coverage that we see claims coming in from. We have seen aggregators recommending AXA SmartPersonal accident as it is a competitive “ala-carte style” coverage. I personally use the Sompo PA Star plan as it was recommended as being efficient with claims. With its 20% discount currently, it is back up the rankings also.
Why this exclusive plan is recommended!
Firstly, your child will enjoy FREE coverage (25% coverage of your limit) once both you and spouse are onboard. From our competitive analysis, although the insurer’s brand is less known, the plan has generous benefits. A single claim more than makes up for the premium.
HFMD treatment is also claimable. Hence, it is THE TOP recommendation.
*They have higher levels of coverage to consider especially if you are a driver on the roads.
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We will pre-fill the forms of any of the TOP 3 recommended to save you time.
Your signature is done digitally on it subsequently.
BONUS: 2 main reasons why you need personal accident insurance ON TOP OF hospital insurance
1. Your integrated shield plan (IP) will pay only 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 such as long term physiotherapy.
The author is an independent financial planner and not a direct representative of any of the insurers. The author has distribution for all the products mentioned and receives commission from the insurers. The author is covered by Sompo’s PAstar plan personally.