Why Personal Accident Insurance is A MUST for You and Your Kids

Ensuring that our kids are happy, healthy and safe is one of parents' top priorities. However, this priority is not always fulfilled. Accidents happen, and it is vital to shield ourselves financially when unforeseen circumstances occur - that's where personal accident insurance comes in.

3 reasons why personal accident insurance is important

Every Single Person is Prone to Accidents

There is absolutely no way that any parent can shield their children from danger forever. Even if we try our best, accidents are bound to happen.

No doubt, younger children may be more at risk when it comes to accidents simply due to their reckless nature. Nevertheless, teenagers also have similar levels of risk if they do sports regularly.

Medical Bills Can Rack Up

If your child gets into an accident, hospitalization fees can add up to quite a lot. If you are interested in finding out how much these fees may cost, you can click here for fee benchmarks that have been created by MOH for public and private hospitals.

Besides hospital bills, we also need to consider physical therapy and reconstructive surgery. These are all very costly, especially if you are not covered under Personal Accident insurance. In the unfortunate event that your child goes through personal disablement from an accident, the monthly expenses that you have to take care of will become significantly higher. Avoid this painful financial strain on not only yourself, but also your family - have a Personal Accident plan! Personal Accident plans can lift your financial burdens by paying a lump sum cash benefit upon permanent disablement due to accidental injury.

Personal Accident Insurance Supplements Health Insurance That We Already Have

MOH covers all Singaporeans and PRs through Medishield, a basic Health Insurance scheme. Since our children are already covered under Medishield, is it really necessary to add on Personal Accident insurance for them too?

Yes, it is! Personal Accident Insurance is crucial because it covers the shortcomings of Health Insurance.

These are the key differences between Health Insurance and Personal Accident Insurance:

Health Insurance	Personal Accident Insurance
Covers eligable inpatient hospital treatment caused by illnesses and injuries	covers outpatient medical expenses due to accidental injuries
Does not pay lump sum amounts for death or total and permanent disability	Usually pays a lump sum cash benefit for death or total and permanent disability

What are the Advantages of Personal Accident Insurance for My Child?

Even if Personal Accident Insurance is not mandatory, it certainly will be very helpful in the event that an accident occurs.

One good Personal Accident Insurance plan that you can consider is SOMPO's PAJunior, which will cover your kids from 1 month old to as long as 21 years old. Not only does it cover standard medical bills, but it also covers infectious diseases such as dengue fever and Hand, Foot, Mouth disease (HFMD).

Your children are priceless. Protect them as much as you can through Personal Accident Insurance, and you will definitely feel your anxieties about their health easing.