In our earlier post, we shared on TM PA, which some clients thought was a pretty good plan with its unique extensions, but there were a handful who felt that the sub limits were pretty confusing when it came to claims. Well, it is still with mixed reactions, that Tokio Marine's product team has once again launched another personal accident policy known as TM Protect PA. This is not a replacement of the old plan, but to complement the existing TM PA. What makes TM Protect PA stand out?PRO
- One of the few PA plans which you can have Outpatient Claims for HFMD, Food Poisoning, Dengue Fever, Insect Bites. Many other companies only allow it for Inpatient claims.
- Covers Weekly Income - this time with no need for proof of employment (Great for homemakers & Self Employed!)
- Double Indemnity is now extended to Private Cars (most policies only cover public conveyance)
- Definition on what is deemed as an accident is less stringent in its policy wordings, compared to its predecessor, TM PA.
- Child cover is more comprehensive compared to TM PA..which means they can enjoy same cover as an adult. (less the weekly income)
- Housewife is under Class 1, other insurers will normally place them under class 2 for PA.
- Singapore PR, Work Permit Holders Class 1 and 2 can be covered.
- Monthly premiums are available via GIRO, compared to many personal accident plans, which normally have annual modes of payment only.
- Coverage can start for babies as young as 1 month old!
- Once the child is 19 years old (ANB) and above, he/she is entitled to the accidental weekly income benefit. (No other personal accident plans offer this)! This benefit lasts till the client is 65 years old (ANB)
- The policy last entry age is 70 years old (Age Next Birthday). This means the policy really covers a wide spectrum of ages!
- People who work On Board Vessel (OBV) can finally buy a PA policy! (Most of the time, these class of people are declined risk)
CON
No more FREE child cover
Weekly Indemnity is not payable for HFMD, Dengue Fever & Food Poisoning
The product is to be launched on 5 May 2015, so if you like what you see above and want to get one for yourself, do contact us now!