TM Protect PA - Another New Personal Accident Policy From Tokio Marine

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

1. 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.
2. Covers Weekly Income - this time with no need for proof of employment (Great for homemakers & Self Employed!)
3. Double Indemnity is now extended to Private Cars (most policies only cover public conveyance)
4. Definition on what is deemed as an accident is less stringent in its policy wordings, compared to its predecessor, TM PA.
5. Child cover is more comprehensive compared to TM PA..which means they can enjoy same cover as an adult. (less the weekly income)
6. Housewife is under Class 1, other insurers will normally place them under class 2 for PA.
7. Singapore PR, Work Permit Holders Class 1 and 2 can be covered.
8. Monthly premiums are available via GIRO, compared to many personal accident plans, which normally have annual modes of payment only. 
9. Coverage can start for babies as young as 1 month old!
10. 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)
11.  The policy last entry age is 70 years old (Age Next Birthday). This means the policy really covers a wide spectrum of ages!
12.  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!

A Personal Accident Policy That is Great in Features and Price

Mention Personal Accident Policy in Singapore and one will immediately think of telemarketers calling on behalf of banks. However, have you ever stop to wonder should there be a claim, do you know the procedures or are you just like the many who think that they can call the banks to help them fill up the claim forms etc?

No doubt that with online presence, all of us who are tech savvy can submit our forms online, but are you aware that banks only have joint ventures with insurance companies for a short span of time and once the contract period is up and they have gained customer leads and sales, the finance firms (a.k.a) banks will wash their hands off the case and hand you back to the insurers, so why not just initiate your relationship right from the start DIRECTLY with the insurers' intermediaries like yours truly?

Now that the WHY ME has been covered, let's cover the WHY Tokio Marine Life Insurance Singapore (TMLS)? Recently the insurer has just launched a personal accident insurance policy known as TM PA. Listed are some of the benefits which makes it stand out from the crowd:

• Covers Dengue Fever
• Only ONE Parent needs to buy and up to FOUR kids up to age 18 are covered for FREE*
• Guaranteed Renewal up to age 75 (as long as you pay your premiums on time)!
• No requirement by persons above 65 need to make declaration on health during the renewal exercise (this health declaration can be quite inconvenient especially for the senior citizens, as the insurers will decide if they want to renew the PA policy based on the clients' declaration...ask yourself which elderly has perfect health past the age of 65?)
• Monthly modes of payment are available
• Premiums for Class 1 & 2 are the same

* The entitlement for Free Child Cover is as per the screenshot below:

If you want to know more about the rates and benefits, click here, but if you need to clarify your doubts, just click on the "Contact Us" Button on the right.

However if you want to compare solely on rates, then this site might interest you more.