facebookDoes the Sompo Personal accident insurance cover anything extra as compared to other personal accident insurance plans? Would you get this plan? - Seedly

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Anonymous

16 Nov 2020

Insurance

Does the Sompo Personal accident insurance cover anything extra as compared to other personal accident insurance plans? Would you get this plan?

I am curious if anybody has this plan and made claims with it before... is there anything worth considering?

Discussion (4)

What are your thoughts?

Hi Anon,

Sompo has one of the most comprehensive PA plans I've seen in the market. Whether covering 17 Specified Infectious Diseases such as SARS, Dengue Fever, HFMD, Zika, Bird Flu strains etc, to additional benefits such as mobility aid, domestic helper cover, trauma counselling expenses and personal effects & belongings which are not covered in your typical PA plan.

I tried the claims process before and it's been rather straightforward. You can choose to submit it to your agent who will submit on your behalf, or you can do it direct via Sompo SG app or this website: https://www.sompo.com.sg/claims/claims-list/per...

Pang Zhe Liang

Pang Zhe Liang

14 May 2020

Level 14·Senior Financial Services Consultant at AIA Singapore Private Limited

While most of the benefits for a personal accident plan are the same, e.g. lump sum payout for accidental death, accident medical reimbursement, there exists differences that you must know. Accordingly, this depends on which plan you are referring to in comparison.

In any case, I will suggest for you to have a complete understanding on your existing insurance portfolio first. Through this process, it allows us to understand the coverage that we have, any financial gap, as well as to find out whether we are overpaying for our insurance policies.

Key Reasons Why:

Why Every Client needs an Insurance Policy Summary

At the same time, we will also find out whether any of your existing insurance policies cover personal accident related benefits.

Thereafter, we need to know your needs in order to determine whether you should get this plan. In addition to the tangible benefits, you may also wish to consider other intangible factors, e.g. simplicity of policy terms, ease of claim, assistance from agent. All these are important to ensure value for your dollar.

I share quality content on estate planning and financial planning here.

Tan Li Xing

Tan Li Xing

14 May 2020

Level 9·Financial Consultant at Prudential Assurance Company (Singapore)

Hi Anon,

I think there has been quite a big handful of revisions to the personal accident plan for ...

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