Anonymous
In what sort of cases would a PA Insurance not come in handy but DI Insurance would? Would DI Insurance be necessary for a desk-bound worker?
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Jonathan Chia Guangrong
11 Aug 2020
SOC at Local FI
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May claim DI if due to illness and not accident,
accident and illness can happen to anyone. illness might have to look at family history to determine risk.
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Basically, PA is as it suggests, meant for accident related claims. Though some policies / products also extend (provide) coverage for infectious diseases like dengue. Usually there is a limit on the amount you can claim from the policy, depending on the type of incident.
For DI, its purpose is to provide a level of income when you meet the disability criteria. You may become disabled due to either illness or an accident. I've received advice in the past that the target income payout is about 75% of your current salary.
DI is usually not so much of a priority. Do get your other plans in place first - protection, hospitalisation and PA before looking at DI.
Hope this helps.