The Do’s and Don’ts of personal accident coverage for your child!

Do you have a child who is always climbing and jumping? I know EXACTLY how it feels!

And in this process of learning through physical activities, accidents do happen.

3 specialised children personal accident plans to consider!

1) AIA Star Protector Plus

AIA Star Protector Plus plan covers up to $5,000 worth of medical reimbursements per policy year.

It also has an additional HFMD compensation of $100 (every 2 years claimable).

I've attached the list of diseases covered below and HFMD, Dengue fever and food poisoning are covered.

2) Great Eastern Junior Protector Plus

GE Junior Protector Plus plan also covers up to $5,000 worth of medical reimbursements per policy year.

I realised a slight difference in this plan vs AIA Star Protector Plus. 

There is a cap on Hospital Cash Cover and Medical Expense Reimbursement arising from dengue haemorrhagic fever,HFMD and food poisoning.

On a quick glance, the best plan (Plan C) is much cheaper than AIA's best plan (Plan 3). But the most basic plan (Plan A) is more expensive than AIA's (Plan 1)

3) Sompo PAJunior

Sompo PAJunior plan covers up to $3,500 worth of medical reimbursements per policy year.

I've attached the list of diseases covered below and HFMD, Dengue fever are covered which is similar to AIA Star Protector Plus.

Food poisoning coverage is in a free extension. In addition, there is a coverage for insect/animal Bites.

Another interesting part of the plan is the "Get Well Soon" Benefit".

For SOMPO PAJunior JUMBO plan, it is at $50/day. Which means if your child has an MC due to HFMD for 5 days, its a $250 compensation.

Why personal accident coverage for your child is ESSENTIAL

My son's gotten his little toe slammed by the door, lost his nail and limped for a week. But I've a story on a more severe incident to share from a friend's son.

He fell from height and landed badly. There was cut deep near his eye.

Thankfully eye sight seems unaffected. But he had to get hospitalised for stitches.

He also needed significant followup treatment at SNEC and these are considered outpatient treatment.

In 2017, 577,433 hospital admissions in Singapore, 15.3% involved children below age 14!

Hence, consider getting personal accident coverage for your child.

What are the most common personal accident claims

Outpatient bills like those incurred at A&E are ONE OF THE MOST COMMON CLAIMS insurers receive. This was mentioned by Ms Koh Yen Yen, Sompo Insurance Singapore’s chief distribution officer.

And if it is incurred as outpatient, most of these bills cannot be paid by medisave and only by cash.

Hence, personal accident coverage for your child can SAVE YOU BIG potential cash outflows.

DO look for the definitions in the policy

I believe coverage for HFMD must be there for your child.

HFMD is so common these days. My son was even the index case for his school this year.

In addition, some policies have a restrictive definition for accident as "an event caused by "violent, visible and external means". This means accidental choking is NOT CLAIMABLE!

Sompo PAJunior policy for example has a wider definition. Read policy wordings here

It's defined as "identifiable event which is sudden, unforeseen or unexpected". This means accidental choking is CLAIMABLE!

DO NOT need to buy personal accident cover for an infant

If you are a new parent, this part helps you.

An infant is mostly home bound. Most infant care centres only accept after 2months.

In addition, an infant is mostly sleeping. Not jumping and climbing around which is a problem after 1year.

The pull to climb phase comes in 6-9months into growth and thats where accident risk starts to increase.

I've seen complimentary 6-month coverage for NEWBORN which serve little purpose.

These benefits will hardly be useful to you. Hence, be savvy about it.

An alternative for you to consider is to cover for your child FOC using a family PA plan.

"Personal Accident Insurance For Family" click here to read more!

While newborns can contract HFMD, I recommend you postpone your search for a PA plan till your child is 6months or 9months old. Save on that premium.

But once above 9 months old, look for that child personal accident coverage that suits you!

To purchase a plan now, email josh.tan@promiseland.com.sg or WhatsApp below

Last updated on October 15th, 2019 at 12:34 am

Josh Tan Jian Liang (CHFC) Principal Author

REVIEWS: https://www.josh-tan/wall-of-reviews. Practising financial planner with Promiseland Independent Pte Ltd. EXPERIENCE: More than 12years. Josh Tan is a young parent, speaker, author and founder of TheAstuteParent.

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