Great Eastern Personal Accident Insurance Introduction:
Tagging a price on the loss of limbs or any body part due to an accident is indeed a morbid affair. The very thought of a serious accident or demise to any of your near and dear ones is distressing. Your demise or dismemberment in a grave mishap that leaves your people in calamitous financial situations. It is no wonder that a ‘personal accident’ insurance plan that disburses a giant sum of up to SGD 5 lakhs (nontaxable) can seem appealing.
Personal accident protection is generally packaged into other prevailing insurances for travel, vehicle and even household covers already. It is mostly offered free when you buy certain credit cards since it has a ‘low claim’ ratio (the amount paid for claims against that in premiums) so far. But then it all starts with the favourite quote of insurance providers, ‘you never know’.
About Great Eastern Insurance Company:
Great Eastern Life Assurance Company is centered in Singapore and is the biggest life insurance firm in Singapore and Malaysia put together and the oldest in Asia. With assets estimated to over 45 billion SGD and around 30 lakh insurance buyers to its credit, Great Eastern continues to conquer heights in the field.
It has two delivery channels, namely the tied agency force and bancassurance. Great Eastern has roughly 2.6 million policies in effect attended by 24 local offices and a wide service network of more than 17,000 representatives across the country. As the only life insurance firm to be named on the Singapore Exchange, it is no wonder that GE has emerged as the leader in both Malaysia and Singapore.
Great Eastern Personal Accident Insurance:
The Great Eastern Personal Accident (‘PA’) policies and riders include:
- AccidentCare Plus II:
- Medical Bill Reimbursement for all accident-related hospital expenses including physio, daily hospitalization charges, mobility aids, Traditional Chinese Medicine (TCM) and chiropractic cures.
- Payout Upon Incapacity: If the accident is severe enough to put you out of work temporarily, you will get a weekly benefit for up to 104 weeks.
- Receive emigration and deportation cover if you are involved in an accident abroad. In the event of death, your policy will bear the repatriation expenses as well.
- If you are woman, you get 20 percent extra coverage on the hospitalization benefit, amount assured and disability.
- For motorcyclists, this plan offers an added 15% on the standard premium of different occupational class.
- If you are hospitalized due to a vehicle accident, Dengue Haemorrhagic Fever (DHF) or food poisoning, Essential Protector Plus offers cover including daily income up to SGD 200.
- You can get up to SGD 15000 on medical bill reimbursement including Physio, Traditional Chinese Medicine (TCM) or chiropractic treatments.
- You are eligible to register for this plan if you are healthy and aged between 17 and 65.
- For women policyholders, there is a 20 percent extra coverage on the hospitalization benefit, amount assured and disability.
- If you suffer a burn, dislocation or fracture due to accident, you can claim an additional payment of up to SGD 8000, as well as medical bill reimbursements.
- Junior Protector Plus is an all-inclusive personal accident insurance policy for children and protects them globally against accidents, as well as diseases like Hand, Foot and Mouth Disease (HFMD), food poisoning and Dengue Haemorrhagic Fever (DHF).
- You can get up to SGD 5000 on medical bill reimbursement including Physio, Traditional Chinese Medicine (TCM) or chiropractic treatments for your child’s accident related expenses.
- If your ward is hospitalized due to HFMD, DHF or food poisoning, you can receive up to SGD 150 daily and get refunded up to SGD 200 on medical bills.
- Common injuries like accidental burns, dislocations, and fractures is eligible for claim up to SGD 8000.
- You are offered SGD 1500 for recovery and after-care including buying mobility aids and SGD 5000 if the need for reconstructive surgery arises.
- As a parent/ guardian, you can get up to SGD 150 per day when your charge is in hospital to compensate your loss of income for those days.
- This plan also secures your child’s financial future as it grants up to SGD 50,000 for your child’s education should something unfortunate happens to you.
- Insurance amount up to SGD 500,000 in case of decease and permanent disability.
- You can get up to SGD 500 weekly allowance in case of temporary disability which outs you out of employment up to 104 weeks.
- Receive up to SGD 50,000 for emergency departure or deportation due to accident overseas.
- Refund of medical bills including those by authorized Chinese physicians
- Hospital allowance every day for up to 3 months as well as SGD 1000 to cover costs sustained for mobility aids.
- Purchasing this plan along with your parent or spouse will fetch you a whopping 25% discount on the second policy.
- Medical and surgical reimbursement up to SGD 1800 which includes Physio, Traditional Chinese Medicine (TCM) or chiropractic treatments.
- Daily hospitalization payout up to SGD 120, and after-care benefits up to SGD 1200 to help you cope and get back to normal life.
- Receive up to SGD 45,000 if you cannot handle any or more three Activities of Daily Living (ADL), and up to SGD 82,500 in the event of accidental demise or permanent incapacitation.
- In case of accidental burns, dislocations, or fractures, a lump amount up to SGD 25,000 is granted.
- If you are aged between 40 and 75 (and do not have osteoporosis, mobility problems and physical incapacities), you have a definite signup and annual renewability until age 85.
- Prestige PACare doles out the ultimate protection of up to SGD 3.5 million for permanent incapacity or demise due to an accident, which is essentially a promise of great financial security.
- You have optional reimbursement of medical expenses of up to SGD 20,000 per accident, and 24 hours emergency assistance globally.
- You can renew this policy every year until age 75.
- From the second year onwards, you can avail a 5% renewal rebate on your premium.
Every Great Eastern PA insurance holder is entitled to one gift as per the PA plan or rider listed below:
|QUALIFYING PA POLICIES||ELIGIBLE CRITERIA AS PER THE PLAN/RIDER||REWARDS|
|Essential Protector||Plan My200 or Our200||SGD 30 CapitaVouchers|
•Essential Protector Plus
•Golden Protector Plus
•Junior Protector Plus
|Plan B or C|
AccidentCare Plus II
|Yearly Premium of at least SGD 300|
Terms & Conditions regarding the promotion plan:
- This Promotion is effective for new policies and riders bought in Singapore between 1 January 2015 and 31 August 2015 (the “Promotion Period”).
- The qualified Personal Accident (“PA”) plans and riders are AccidentCare Plus II, Essential Protector, Essential Protector Plus, Junior Protector Plus, Golden Protector Plus and Prestige PACare.
- Policyholder is allowed one gift and premiums that qualify yearly is basically total number of combined premiums, inclusive of loadings (if applicable) but without upgrades.
- Gift redemption letter will be sent to you one month from the day policy is issued.
- If you want to replace, cancel, lapse or surrender your policy, you will get full cash refund.
Compare Great Eastern Personal Accident Insurance With Other Insurance Companies Offering Accident Insurance in Singapore
- AIA Accident Insurance
- AXA Group Personal Accident Insurance
- AVIVA Personal 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 Personal Accident Insurance
- AIG Single And Special Risk Insurance
- AIG Group Corporate Travel And Group Personal Accident Insurance
- Tenet Personal Accident Insurance
FAQs - Great Eastern Personal Accident Insurance
- How do I make a Death Claim?
- What are the conditions to make a Revocable Nomination?
- How will be the death claim amount distributed?
- What is Permanent Disability according to Great Eastern?
You can file a claim if Great Eastern Life Insurance is the insurance issuer of the deceased. Download the form and submit the duly filled form and copies of accident-related documents online or in person.
For making a Revocable Nomination, policy owner should be of age 18 and above. This can be done at any time and changed to any entity be it a person or an organization.
As per Section 61 of the Insurance Act, the proper applicant is to use the sum for the benefit of the deceased's charges. In Great Eastern Life in the absence of a Will, death claim proceeds will be in accordance to the Rules of Intestacy specified in the Intestate Succession Act.
Permanent Incapacity is being bodily or mentally unable to ever continue in any paid job.