Accidents are not just unpredictable, but also very dangerous and unfortunate. They have far reaching consequences and the potential to ruin the victim’s future. It is very important to take measures which will protect us against dire consequences of accidents and serious illnesses. AIG provides a comprehensive Personal Accident insurance policy to protect you and your family from unexpected and dangerous events like accidents.
Overview of AIG Personal Accident Insurance
AIG (American International Group) Asia Pacific Insurance Pte. Limited has been present in Singapore since the year 1953. One of the largest general insurance companies in the country, it offers insurance solutions to its customers – individuals and corporate clients. AIG offers products like auto insurance, home insurance, personal accident insurance, travel insurance, to name a few.
Types of AIG Personal Accident Insurance
1. AIG Junior Advantage
This plan has been especially designed for children. Children covered under this policy need to be between 1month to 12years old. Junior Advantage is a comprehensive insurance plan which protects your child against life’s unexpected events.
Key Features and Products of Junior Advantage
- If your child suffers disablement owing to an accident, the company pays a lump sum of up to $50,000. For every 10 years, this amount increases by 5%.
- In case of an accident, up to $1000 of your child’s medical fees will be covered
- If an illness or injury requires your child to undergo a surgery, this plan will cover up to $1000 of the expenses incurred.
- If the child is hospitalised due to any injury or illness, AIG will pay $60 every day. This is valid up to 365 days of your child’s hospitalisation.
- In case of your child’s death due to an accident, the company pays a sum of up to $5000 as bereavement expenses.
- If the child suffers one of the following permanent disablements due to an accident, an amount of $100,000 will be paid.
- Loss of complete eyesight, i.e in both the eyes
- Permanent loss/total loss/loss of use of two limbs
- Permanent disablement
- Complete loss of hearing and speech
- Acquired brain damage
- Loss of limbs
- Death as a result of foot, hand, mouth disease and severe Asthma
- Tuberculous meningitis
- Severe rheumatoid arthritis
- Severe Epilepsy
- Bone marrow transplant
- Diabetes mellitus – insulin dependant
- Kawasaki disease with heart complications
- Rheumatic fever
AIG Junior Advantage Eligibility
The eligible age for Junior Advantage is a minimum of 30 days to a maximum of 12 years. To get more details about the eligibility criteria please refer to the company’s official website or contact the nearest AIG branch.
2. AIG Sapphire Enhanced
The Sapphire Enhanced plan offers four different coverage options to the policyholder. These options come with additional benefits and one can also choose add-ons.
Key Features and Products of Sapphire Enhanced
- In case of medical treatment resulting from an accident, both the outpatient and in-patient can get a reimbursement up to $ 10,000
- If the policyholder faces temporary total disablement, he/she will be provided up to $500 per week. This will be his/her supplementary income for a period of 2 years.
- In case of seeking treatment from a registered Chinese physician, an amount up to $750 will reimbursed per accident (for such treatment).
- The expenses incurred due to ambulance services and purchase of mobility aids (if prescribed by the attending physician) will be covered. This is applicable only if the aforementioned circumstances are consequences of an accident.
- Covers injuries/ health issues like food poisoning, dengue, insect and animal bites and injuries due to hazardous sports.
- If both parents are insured under this plan, their children can enjoy free cover up to 20% of the limit. An unlimited number of children are eligible for this benefit.
- Other comprehensive benefits included under this plan are –
- Coverage of up to $250 per injury towards daily hospital allowance. This is valid for 365 days.
- In event of the insured’s death, a lump sum of $25,000 is payable towards compassionate allowance and child support fund.
- In case of the insured’s death, an amount up to $3000 per month is payable (to the insured’s family) towards lifestyle maintenance expenses.
AIG Sapphire Enhanced Eligibility
The eligible age for Sapphire Enhanced is a minimum of 16 years to a maximum of 70 years. The policy is renewable for individuals aged up to 75 years. To get more details about the eligibility criteria please refer to the company’s official website or contact the nearest AIG branch.
Compare AIG Personal Accident Insurance With Other Insurance Companies Offering Accident Insurance in Singapore
- AIA Accident Insurance
- AXA Group Personal Accident Insurance
- AVIVA Personal Accident Insurance
- Great Eastern Accident Insurance
- ETIQA Personal Accident Insurance
- HSBC Accident and Health Insurance
- Manulife Accident Insurance
- NTUC Personal Accident Insurance
- Prudential Accident Insurance
- Tokio Marine Accident Insurance
- Tenet Accident Insurance
- QBE Personal Accident Insurance
- Liberty Personal Accident Leisure
- AIG Single And Special Risk Insurance
- AIG Group Corporate Travel And Group Personal Accident Insurance
- Tenet Personal Accident Insurance
Frequently asked Questions (FAQs) - AIG Personal Accident Insurance
- What are the forms required for a new application?
The forms to be duly filled and submitted for a new application are
- Junior Advantage Product summary
- Junior Advantage Application form
- ‘Know Your Client’ and ‘Our Advice and Reasons Why’ forms
No, the premium amount is not dependant on the applicant’s age.
Yes, sports like scuba diving, rock climbing, skiing, etc. are covered under this plan. The insured must pursue these sports only as a leisure activity and not as a source of income.
Unlike Youth Advantage, Junior Advantage has an optional "Child Critical Illness" rider.
Yes, treatment by a Chinese Physician (for an injury) is covered under this plan.
- Are foreigners eligible to purchase this policy?
- What are the forms required to purchase this plan?
- Can more than one Sapphire Enhanced Plan be purchased?
- As a policy holder of this plan are my children covered for 20% of all the benefits?
- What is Free Child Support Fund and how does it work?
Yes, foreigners who have permanent address in Singapore, a valid employment pass/dependant’s pass or work permit can purchase this policy.
Only the application form is enough.
At any one time a client isn’t allowed to hold more than one Sapphire plan. If a client has two Sapphire Enhanced plans and there is a duplication of coverage, the company will pay out for the plan holding higher benefits.
Except the weekly benefit of Temporary Total Disability, your children will be covered for 20% of all the benefits.
If in case of accidental death of the policyholder being survived by any dependent children, the company will pay a lump sum benefit to the children. This will be in compliance with whatever has been stated in the policy schedule.