A Personal Accident Insurance (PA Insurance) policy is an annual policy you can sign up for in order to insure yourself and/or your family against unfortunate events, such as injuries, disability or death caused by accidental circumstances.
PA Insurance works just like most other insurance policies. Basically, you sign up for a PA Insurance policy with specific scale of benefits and scope of coverage, and pay an annual premium in order to enjoy such benefits and coverage. In the event of an accident which causes injuries, disability or death, you and/or your family are compensated with a sum of money based on the scale of benefits and scope of coverage as stated in your policy.
Different PA Insurance policies offer different coverage and scale of benefits. Typically, the standard types of coverage provided in a PA Insurance policy include: accidental death, permanent disablement, temporary total or partial disablement, medical expenses, corrective surgery, hospitalisation benefits and funeral expenses.
Yes, all PA Insurance policies have exclusions to their coverage, which may differ slightly from insurer to insurer. Generally, exclusions include injuries, disability and death caused by war, suicide, pre-existing physical or mental defect, self-inflicted injury, childbirth, miscarriage, provoked murder or assault, hazardous sports and HIV and AIDS related diseases.
Additionally, certain PA Insurance policies may also exclude coverage for people in professions which are considered “high risk”, such as pilots, racing drivers, law enforcement officers, drivers, aircraft testers, seamen and professional sports persons.
For peace of mind, you are advised to read and understand the full list of exclusions when you sign up for Personal Accident Insurance.
To get compensated in the event of injuries or disability, you must submit a claim to your insurance company in the manner and within the timeframe as indicated in your PA Insurance policy. You will usually need to submit documents such as medical reports and payment receipts to support the claim.
To get compensated in the event of death, the nominee indicated in the PA Insurance policy must submit a claim with the necessary supporting documents, such as a death certificate. If no beneficiary has been nominated, the dependents of the deceased can make the claim, though they may be asked to show proof of dependency.
As different people have different requirements from their PA Insurance policies, you should always make the necessary comparisons before signing up for one. One way to compare is to look at the scale of benefits, which refers to the amount of compensation that is paid to you or your family under different circumstances. Another way is to compare the scope of coverage, which refers to the range of items for which you are covered, as well as, the exclusions under a PA Insurance policy.
To find the best PA Insurance policy, simply refer to the table above to compare the prevailing scale of benefits for PA Insurance offered by major insurance companies in Malaysia. To check out additional privileges and benefits of a particular policy, click on ‘+ more info’.
If you would like to be directed to the product page of a specific PA Insurance policy at the insurance company’s homepage, select ‘Visit Site’.