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

PA insurance provides financial protection against accidents resulting in death, permanent total or partial disability, and temporary disability. Benefits are typically paid as lump sums or weekly income replacement.

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

PA insurance pays benefits for accident-related outcomes (death, disability) regardless of medical costs. Health insurance reimburses actual medical expenses for both illness and accidents.

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

The accidental death benefit is a lump sum paid to the nominated beneficiary if the insured dies due to an accident. Death must typically occur within 90-365 days of the accident to qualify.

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

PTD means the insured is permanently unable to perform any gainful employment due to the accident. It typically includes loss of both hands, both feet, sight in both eyes, or any combination.

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

PA insurance pays defined benefits (not reimbursement), so multiple policies can coexist. If you hold three PA policies with SGD 100,000 each, you can claim SGD 300,000 for accidental death.

PGI Insurance Practice Test

PGI Insurance Practice Test

PGI Personal Accident Insurance