Views personal accident plans

qazamy

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sorry for the late reply, was on business trip.

The permanent disability is a good to have thing, as far as i am concern, I do not wish to have a permanent disability. Main purpose to for personal accident plan to cover medical cost, if i meet with some unfortunate mishap anywhere i.e walking on the road, exercising, etc.

Are we derailing from TS original purpose for finding an accident plan?

Was thinking TS was referring to small case claims like sprains, food poisoning, dengue fever, animal/insect bite/sting/attack, minor road accidentals (not resulting in TPD/Death or hospitalization). In which he would be able to get full reimbursement.
 

yumyumz

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Should one get a pa plan or disability income plan to cover accidents?

If disability income covered for 2k, for eg income is 4k reduced to 2k, they will make up for the 2k difference?

Sent from hehe using GAGT
 

BBCWatcher

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Should one get a pa plan or disability income plan to cover accidents?
To cover accidents, as an insurance company would define them, of course you'd get a "Personal Accident" insurance plan. The problem is that "accidents" are not the most common reason why workers become physically and/or mentally unable to work.

If disability income covered for 2k, for eg income is 4k reduced to 2k, they will make up for the 2k difference?
No, I don't think that's the way it works in most disability income policies. If you buy S$4K/month worth of disability income coverage, and if you were to become disabled and could only earn $2K/month as a consequence of your disability, then the disability income insurance would (typically) pay out $2K/month. But $2K/month of coverage would only cover you if you fall below that amount due to a disability, as I understand it.
 

Bigoya

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How is claim experience so far ?

So far so good for sompo. No claims got rejected yet.
The only downside perhaps is that claim payment takes a week or 2 to be mailed out after approval.
 
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