We initially didn’t think much about accident insurance. We thought that it was a good to have, and that even if we bought one for Ruth, we wouldn’t need to use it. Of course, we were completely mistaken about this last October and November and were taught even more about the importance of accident insurance for children. For both admissions to NUH and Gleneagles (and of course the operation costs), we were able to receive a full reimbursement for these expenses. This was a massive weight lifted off our shoulders which were already worn down from the weariness of caring for a toddler in hospital and the guilt of not being able to protect her from her injuries.
Here, we share with you 7 different child insurance options in Singapore that you can consider purchasing for your child. For just a few hundred dollars a year, we were able to save even more. Of course, the goal is to not have to submit a policy claim. But if you have to, this makes a huge difference. We will never be stingy with purchasing accident insurance policies for our next child; it is absolutely essential for us.
This is not a sponsored post. The information in this post is accurate as of the date of posting on 18 January 2022. For the avoidance of doubt, unless expressly mentioned, the content featured in this post is adapted from the original policies and may or may not have been reviewed by the Monetary Authority of Singapore.
Photo Credits: Workday
#1 AIA – Star Protector Plus
The AIA Star Protector Plus is an Accident Protection term insurance issued to children between the age of 2 weeks to 16 years. It provides your children with affordable worldwide accident and health cover, accidental injuries and burns, and coverage for 16 common diseases (e.g. HFMD, Dengue Fever, ‘Mad Cow Disease and Food Poisoning). If your child is disabled or suffered from burns due to an accident that happened at school, on public or private transport or as a pedestrian on the road, you will receive a double pay-out. In addition, you can exercise the optional Child Critical Illness Benefit that can be converted to an AIA whole life or endowment policy when your child becomes an adult. Under this benefit, your child can be covered for Acquired Brain Damage, Bone Marrow Transplant, Leukaemia and Severe Epilepsy.
There are 3 different plans with premiums ranging from S$149.62 to S$479.72. To top up for the Optional Child Critical Critical Illnesses Benefit, this will cost you an additional S$57.60 to S$192 for the premium. You may refer to their brochure for more information. For the first 5 years, your child can also enjoy an additional coverage of 5% per renewal of their policy.
Photo Credits: CIMB
#2 CIMB – PA Junior
CIMB Bank offers a PA Junior General Insurance which provides your child with all-rounded protection against accidents (up to S$150,000 for Accidental Permanent Disablement which includes Third Degree Burns, up to S$10,000 for school or inter-school sporting events and up to S$15,000 for reconstructive surgeries from accidents) and infectious diseases until they are 21 years of age. This insurance also has an Education Fund, and allowances which range from ambulance fees, hospitalisation fees (up to S$100 per day if warded due to an accident or 1 of the 17 specified infectious diseases for up to 2000 days), recuperation fees and more.
If you are looking to purchase an accident insurance for your second child, you will be able to enjoy an additional discount of 10% on this second policy. Do note that this policy may only be purchased for Singapore Citizens and Permanent Residents. This policy is underwritten by SOMPO Insurance.
Photo Credits: Wikipedia
#3 Great Eastern – GREAT Junior Protector
Great Eastern Life’s GREAT Junior Protector is an accident insurance that provides your child with comprehensive worldwide coverage against accidents, sicknesses (e.g. Food Poisoning, HFMD, Dengue Fever) and 41 specified Infectious Diseases for just S$0.68 per day. This translates to yearly premiums ranging between S$248 to S$438 per year. This policy is suitable for children who are 15 days old or 15 days after being discharged from hospital, whichever is later. If your child is hospitalised due to COVID-19, Dengue Fever or other Infectious Diseases, you will also receive reimbursement of S$150 per day.
Some benefits of this policy that you may want to know are: (a) you can receive up to 3 times the pay out upon Accidental Death or Permanent Disablement if an accident occurs and you will be covered for hospitalisation, medical expenses and follow-up treatments (inclusive of complementary medicine) due to accidents and sickness. Please note that this policy can only be purchased by Singapore Citizens or Permanent Residents.
Photo Credits: Crunchbase
#4 NTUC Income – Junior Protection Plan
If you’re looking to purchase accident insurance for your students, you may consider NTUC Income’s Junior Protection Plan which is targeted at children in kindergartens and childcare centres.
The Junior Protection Plan provides 24-hour worldwide protection for children at just S$3 per student per year. Students are provided with protection against accidental death, accidental permanent disability and medical expenses for injuries arising from accidents. Students can enjoy the maximum benefit limit for medical expenses incurred from food poisoning, treatment of injuries (even those caused by bee/wasp/hornet stings). For each full-day hospital stay (for a period of up to 365 days from the day of the accident), a student can receive a daily cash benefit of S$10.70. The total that will paid out per accident is S$20,000 which is payable within 90 days from the date of the accident.
Please note that this group insurance is specifically for schools and MOE personnel, and is for children between 2 months to 14 years of age. Teaching and non-teaching staff will also be provided coverage for accidents which take place within the school’s premises during official operating hours, subject to the staff being below 69 years of age and being registered with the school.
Photo Credits: Logos Download
#5 POSB Singapore – Kids Protect
With POSB’s Kids Protect, your child can enjoy 24/7 protection of up to S$80,000 for just S$0,49 for injuries arising from accidents. This policy covers your children for treatment of accidental injuries and covered diseases e.g. Chicken Pox, Dengue Fever or HFMD. If your child is hospitalised for 180 days due to an accidental injury, you will receive a daily hospital cash benefit of S$150 per day. If you submit no claims at the end of every 12 consecutive months, you will receive a 15% refund of premiums paid (inclusive of GST).
For 1 child, the monthly premium for this plan will cost you S$19.90 (S$238.80 annually) and for your 2nd to 4th child, S$17.91 per child (S$214.92 per year per child). The latter premium has a discount of 10% built into the premium. Do note that this policy can only be purchased for children who are Singapore residents and by Singapore residents.
Photo Credits: Prudential Singapore
#6 Prudential – PruAccident Plan
Prudential also has their own accident plan – the PRUPersonal Accident which provides you with the necessary financial support if your child meets with an unfortunate accident. This plan provides your child with 24/7 worldwide coverage, and covers your child if they get into an accident, suffer from food poisoning, infectious diseases, animal and insect bites. For public transport accidents, you will be entitled to 3 times the pay out and for private transport and pedestrian accidents, 2 times the pay out.
If you do not make a claim, your coverage will increase by up to 25%. Premiums range from S$175 to S$2,225 per year according to your occupation class and plan.
Photo Credit: YouTube
#7 Sompo Singapore – PAJunior
Sompo Insurance carries a PAJunior child accident insurance which provides your child with comprehensive coverage against accidents and 17 infectious diseases. This plan is specially designed for children as young as 1 month old and you will receive a quarantined allowance if your child suffers from 1 of the 17 listed infectious diseases (e.g. HFMD, Dengue Fever and Zika virus). Your child is also entitled to bonus coverage for accidents arising from school sports and competitions, and a subsidy of S$500 for child care and school fees per accident.
PAJunior’s premiums range between S$85.60 to S$288.90 for your 1st child, and S$77.04 to S$260.01 for your 2nd child onwards (i.e. a 10% discount). This policy can only be purchased by Singaporeans, Singapore PRs or by foreigners with a valid employment pass or work permit.