Tuesday, August 05, 2008

Personal Accident Insurance

Hi Mr. Tan

I currently have SAFRA Essential Term (http://www.income.com.sg/insurance/safraterm/ ) and SAFRA Living Care ( http://www.income.com.sg/insurance/safracare/ ) policies.

Effectively, the two policies cover Death, TPD, the 30 major CI, and hospitalization.

In addition, as a employee of my company, I am covered for basic medical expenses incurred for seeing a doctor.

I have an agent from NTUC trying to sell me personal accident insurance. In your opinion, is there any further benefit to me for taking this up?

REPLY

A personal accident policy is low cost and is useful to supplement the cover under your life policies. If the total sum assured under your life policies is not adequate, you can buy a personal accident policy to supplement the coverage. The annual premium to cover $100,000 should be less than $80 for most occupations.
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6 comments:

Yong Kiat said...

The current SAFRA Essential Term also cover Death & Permanent and Partial Disablement accident.

I don't like SAFRA Essential Term and SAFRA Living Care as the premium is age-based.

I suggest you get these policies instead:

i) SAFRA Insurance Scheme
ii) SAFRA Living Policy
http://www.safra.sg/membership.aspx?pageid=695

iii) SAF Group Term Life Insurance scheme
http://www.aviva-singapore.com.sg/group-life/saf-group-insurance.htm

August 05, 2008 11:55 PM
Yong Kiat said...

Aviva-SAF have Group Personal Accident Insurance for the following personnel:

SAF Regulars;
SAF Operational Ready National Servicemen;
(If you have not been discharged from Ops Ready NS liability)
Defence Executive Officers;
Public Officers working in MINDEF.

The cost is S$ 4.17 per month for S$ 100,000 sum assured till age 65.
GST is payable.

They also have SAF Group Disability Income Insurance to cover up to 50% of your last drawn monthly income after 6 months deferred period up to age 55. Its have a escalation benefit of 3% annually to take care of inflation.

The monthly premium per S$ 100,000 annual disability income sum assured (it pay monthly) are as follows:

Under 25: S$ 4.60
25 - 29: S$ 5.40
30 - 34: S$ 6.80
35 - 39: S$ 9.10
40 - 44: S$ 10.50
45 - 49: S$ 11.60
50 - 54: S$ 12.00
GST is payable.

The 2 policies are not for SAF NSFs.

You can call Aviva-SAF Insurance Help Desk at 6827 8000 for information and application forms.

August 06, 2008 12:16 AM
Yong Kiat said...

For SAF Group Disability Income Insurance

The monthly premium per S$ 100,000 annual disability income sum assured SHOULD be S$ 10,000 instead as above.

If you earn S$ 1,500 monthly (basic pay), you can only can get S$ 9,000 annual disability income sum assured

Sorry for the mistake.

_____

SAFRA Essential Term
SAFRA Insurance Scheme
SAF Group Term Life Insurance scheme

The above 3 group insurance cover Death & Permanent and Partial Disablement due to accident.

I suggest those who can get all these group insurance to get them as part of their insurance portfolio as they are cheap

August 06, 2008 6:46 AM
Adam said...

Personal accident insurance supplements primarily cover the emergency room gap in the united states. Plans work with any doctor or hospital which is alot of freedom. Insuring areas like emergency rooms is a clever way to view accident insurance. It's tough to trust major medical insurnace companies in america. Indemnity insurance which is basically compensation insurance is an intelligent use of monthly insurance dollars spent. To learn more you can check out my blog.
Personal Accident Insurance Supplement

July 26, 2010 2:55 AM
ritesh said...

Thank you for sharing this information it has helped me to know more about personal accident insurance

July 23, 2019 9:05 PM
ziana roy said...


Thank you for sharing such great information.
It has help me in finding out more detail about cancer protection insurance

June 10, 2020 8:29 PM

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