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Anonymous

24 Jul 2019

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Is it generally encouraged to take up a personal accident insurance policy?

I understand the need for insurance however I do not want to overspend on it. How does the PA insurance policy overlap with / is different from the usual hospitalisation plan?

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Zen Rogue Xuan

24 Jul 2019

PA covers accidental death and TPD. PA plans payout based on an accident are usally capped around 5k, and are subjected to a deductible of $50 and upwards. Personally, I do not feel PA plans are necessary unless you work in a high risk environment. That being said, the best "value for money" PA plan on the market would be Sompo's PA Star. They usally have 20% off their PA plans, in the first quarter of the year.

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