The ABCs of purchasing Personal Accident insurance for your children
4-minute read
Parenting is a journey filled with happy memories of your growing child, mixed with anxious moments about their safety and well-being. Cuts and bruises may be part of their growing years, but serious injuries may impact their health in the long run.
According to a recent WTW Survey, the cost of healthcare in Singapore is expected to rise by 9.8% over the next few years. Healthcare insurance is also predicted to rise by 10.2% across Asia Pacific. These costs are impacted by greater demand for medical care and hospitalisation from illnesses or accidents.
With increasing costs, purchasing a Personal Accident plan for your family early may help to ease the transition. While Personal Accident plans are often bought to complement health insurance, they actually provide affordable coverage without the need for any medical checkups.
Here are the ABCs of getting a Personal Accident plan for your family, including kids from as young as one year old:
1. A-ctivity level of your child
Some children are bursting with energy. They are constantly running about and can risk injury. In PE classes, sports activities or CCAs requiring physical exertion, your child can be protected.
According to the Department of Emergency Medicine at KK Women’s and Children’s Hospital, roughly 28,700 children suffer injuries of varying severity in a year. More than half of these occur from falls, and although they can be prevented with adequate precautionary measures, having the assurance of financial protection is always recommended.
A Personal Accident plan gives you peace of mind knowing the young ones are protected when you aren’t able to watch over them. The protection can start from the toddler stage, to pre-school days to primary school, and right up to university.
2. B-etter be safe than sorry
Accidents occur anytime, anywhere. Once your child begins to crawl or walk, the risk of injury increases significantly. So consider purchasing a Personal Accident plan early.
Other situations may arise, for instance, an accident in a public place. Who will be liable for your child’s injury? Having a Personal Accident plan gives you the assurance that your child is covered even if no other party takes responsibility for the injury.
Even if children aren’t particularly careless or reckless, accidents can still happen. Should there be medical expenses arising from an accident, such as dental treatment or mobility aids, there is provision for these out-of-pocket expenses.
A Personal Accident plan provides additional coverage for treatments that General Health Insurance might not include, such as physiotherapy sessions for a broken arm.
3. C-omprehensive coverage for the family
Every family has different needs, so opt for a plan that best suits you. For instance, if you have multiple kids, MSIG ProtectionPlus insurance plan is a great option as it covers up to three children for free when you and your spouse sign up together. That way, you and your whole family can have all-rounded protection.
Also, don’t forget to compare annual premiums, coverage terms and the claims process before purchasing. Our policies provide peace of mind at competitive rates, and our claims process is fast and easy – very helpful when you are juggling work, home and care duties. We also cover your biological or legally-adopted child aged between one and 18 years old, and up to 23 years old if they are studying full-time in a recognised tertiary institution in their country of origin: Singapore.
Safeguard your child’s active lifestyle with MSIG’s ProtectionPlus
Having a child brings much joy into our lives and keeping them safe brings greater happiness. So don’t leave anything to chance and give your little ones the protection they need and deserve.
Selecting a Personal Accident plan is as easy as ABC with MSIG ProtectionPlus insurance plan. It provides comprehensive coverage plus handy benefits for you and your family.
From time to time, we have exclusive promotions on our insurance plans. Click here to view the latest deals. Policy terms and conditions apply.
