PGI Personal Accident Insurance

Question 1

What does personal accident (PA) insurance cover in Singapore?

Accepted Answer

Death, permanent disability, and temporary disability resulting from accidents, typically paying a lump sum or weekly benefit

Answer

Only medical expenses

Answer

Only workplace accidents

Answer

Only road accidents

Question 2

How does personal accident insurance differ from health insurance in Singapore?

Accepted Answer

PA covers accidental death and disability only; health insurance covers illness and hospitalisation. PA pays lump sums; health insurance reimburses medical costs

Answer

They are identical products

Answer

PA is more expensive

Answer

Health insurance only covers surgery

Question 3

What is 'accidental death benefit' in a Singapore PA policy?

Accepted Answer

A lump sum payment to the beneficiary if the insured dies as a direct result of an accident within a specified period (usually 90-365 days) after the accident

Answer

Death from any cause

Answer

A monthly pension payment

Answer

Coverage for terminal illness

Question 4

What is 'permanent total disability' (PTD) in Singapore personal accident insurance?

Accepted Answer

Complete and permanent loss of function of two or more limbs, both eyes, or total inability to engage in any gainful employment

Answer

Any injury requiring hospitalisation

Answer

A temporary disability lasting more than a year

Answer

Loss of one finger

Question 5

Can a person have multiple personal accident insurance policies in Singapore?

Accepted Answer

Yes, multiple PA policies can be held and claimed simultaneously as PA benefits are not subject to the indemnity principle

Answer

No, only one PA policy is allowed

Answer

Only if from different insurers

Answer

Only with MAS approval

Question 6

What is the typical exclusion for pre-existing conditions in Singapore PA insurance?

Accepted Answer

Disabilities or death caused by or contributed to by pre-existing medical conditions may be excluded or subject to limitations

Answer

Pre-existing conditions do not affect PA coverage

Answer

Only diabetes is excluded

Answer

Pre-existing conditions are always covered