Wednesday, February 02, 2011

Personal accident insurance

A policyholder is unhappy with the change of practice by an insurance company which decided to stop giving 15% discount for a 3 year insurance. He asked for my views on how to convince the company to continue the past practice.

The insurance company has already decided on the new practice and will not accommodate his views. I advised him to check the personal accident rates and cover quoted by other insurance companies and consider moving to a new insurer. As personal accident is offered by many insurance companies, it is easy to find a competitive quote.

Here are two websites that offer personal accident insurnce:


Tan Kin Lian
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1 comment:

  1. Vincent SearFebruary 03, 2011 7:59 AM

    For PA, the insured need to be clear about exclusions to accidents. The most common is motorcycle rider and pillion are excluded. Next, terrorism is usually excluded too. NTUC Income included terrorism as accident during TKL's tenure as CEO, but I'm not sure now. Do be clear about the coverage and exclusion before making a decision.

    Do also note that PA isn't the same as term. Term is a non-par life policy and claimable on death or diasbility by any cause (except suicide in first or second year).

    PA is claimable on accident only, with partial disability or dismemberment also claimable proportionately, but be clear on the coverage and exclusion.

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