Personal Accident Insurance in Singapore – Processes and Benefits

Just one visit to a hospital after an accident is enough to understand how important it is to take personal accident insurance. For one who has had an accident, the hospitalization expenses make him go through a bad experience. Nowadays, accidents are common among people. 

With numerous good hospitals and healthcare centers around and available within our reach, people who do not have enough money for treatment cannot use their services during an emergency. You can avoid such situations by having a personal accident cover, which will help you with two months of complimentary worldwide coverage upon hospitalisation owing to an accident. It will be a boon for you and your family during emergencies. 

Why is personal accident insurance essential today?

The number of road accidents is increasing due to various reasons like speed driving, heavy traffic, poor lighting, etc. To deal with such a situation, it is essential to ensure your and your family’s safety with a personal accident cover. By taking personal accident insurance from the best financial institutions like DBSyou can enjoy benefits like:

  • Financial assistance of S$100/24-hour for you and your immediate family members upon hospital confinement for five days, which is applicable worldwide
  • No hidden costs 
  • No additional payment
  • Even if you have existing personal accident insurance coverage, you will receive additional insurance coverage 
  • Your policy and coverage will start immediately after submitting an application, and it will expire automatically after two months of consecutive premium payment failure without any request or cancelation. 

How to claim compensation?

Keeping all your documents up to date is the first process before claiming compensation. The documents and records of hospitalization and treatment should be up to date. The best way to get a claim is to apply to the insurance company within 30 days from the day you had the accident. 

What are the supporting documents necessary for filing a claim?

You must submit a duly filled-in claim form with supporting documents based on the claim type. You should also provide a medical report to the insurance company in Singapore. The type of documents necessary for filing a claim are: 

  • Medical and other certificates 
  • Evidence required by the insurance company
  • Accident reports from the police, any carriers, or other authorities 
  • Accident documentary evidence 
  • Police investigation outcome

Once you have filed your claim, you are allotted a claim number immediately. You will receive an email acknowledgment and SMS notification to your registered email. On successful claim submission, a claim handler will review and contact you for additional information regarding your claim, if required.

Once the claim assessment commences, the claim will be finalized in 5 to 7 business days. You will receive the compensation through cheque or bank transfer in the next 5 to 7 business days.

What is not covered? 

The personal accident cover will not cover pre-existing conditions, self-inflicted injury, suicide, illegal, criminal acts, or hazardous sports, like skydiving, parachuting, hang gliding, ballooning, race, the trial of speed, potholing, and mountaineering.

The first thing to check in the policy is the aspects covered under the policy and choose the right insurance company. Now foresee unforeseen events and enjoy life with personal medical insurance.