Personal Accident Plans
If you think the personal accident plans which you bought over the counter or through telemarketers are great buys to protect your nest eggs because you got them "cheap", then think again!
Before I go into the price factor, allow me to share that I've sold and seen a fair bit of personal accident plans throughout my career as an insurance agent and here are some reasons why someone needs to consider getting a PA policy:
- Higher chance of a claim compared to life or medical insurance
- Able to see the beauty of insurance through claims
Now for the definition of "cheap". When you get calls from credit card companies telling you their banks or companies are selling the PA product at only S$10 each month; half the time, we do not even know what the features of the plan has and yet we buy them just for that "peace of mind".
If you really want cheap and value for money personal accident plans or policies, I strongly recommend that you check out QBE PA Extra, because this company is actually selling policies which are meant for the retail market at corporate or discounted rates!
If you already have a PA plan, feel free to download the brochure below and make a comparison. For the basic plan of sum assured $100,000, it's only $107 (with GST) per annum and freebies like weekly benefit, medical reimbursement and even TCM benefits are claimable. For some of us, you will be glad to know that Chiropractor visits are claimable as well!
The plan even gives a no claim bonus up till a maximum of 25% of the original sum assured. With the cheap premiums, QBE doesn't even impose an excess or some might call a deductible when there's a claim. For more write up about QBE Personal Accident Plans:
Next question from you will probably be : Who is QBE?
They are basically an Australian General Insurance company and here's their link, if you are interested to read up about them.
If you prefer monthly payment, then this will be a better policy to consider.
If you want to know more of this great product, feel free to contact us here and we will gladly answer any doubts which you might have.
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