While we’re still young, it’s easy to think that we are invincible. After all, we are healthy, energetic, and bursting with youth; retirement and old age can seem like a very distant future. In fact, it’s never too late to get yourself insured because accidents can arise when you least expect it – that’s why they’re called “accidents”. One could be careless, or just super suay for being at the wrong place at the wrong time. And worst of all, accidents can be harsh on the wallet too.
So what can you do to ensure that you are protected financially in the event that you do become super suay? A good advice is to sign up for a personal accident insurance policy, which is a type of general insurance providing benefits in the case of accidental death, disability and injury. The specific type and level of coverage depends on the personal accident plan your purchase, so do get yourself acquainted with the type of benefits below!
There are people who need a personal accident insurance plan more than others, and they are included in this listicle. If you find yourself under one of these 5 categories but haven’t got a personal accident insurance plan, you know what to do!
1. Those who are self-employed
Those who are self-employed may enjoy the freedom of being their own boss, but they lack the advantages of company-sponsored insurance. If a person who is self-employed gets into a major accident, they would have to fork out a large sum of money for medical bills and lose wages by taking time off work. By getting a personal accident insurance plan, you will be offered coverage for accident-related medical bills and a weekly income benefit to make up for lost wages.
2. If you participate in sports and risky activities
Athletes get injured – a lot – so it’s no wonder they have a spot on this list. Since athletes are exposed to risk most of the time, a personal accident insurance may well benefit sportsmen. On the other hand, if the riskiest activities or sports you do are typically done when you travel, a solid travel insurance may suffice and there is no need to sign up for a personal accident insurance. Travel insurance will be good enough in covering accident accidents, injuries and death while travelling, and it can also cover lost baggage, trip cancellations and flight delays.
3. Those who are the family’s sole income-earner
If something happens to you and you’re the sole income-earner, your family may be heavily impacted in terms of financial security. Homemakers are also highly recommended to have personal accident insurance because the household may fall apart without him or her being there to assist in family matters! If you aren’t the breadwinner of the family, you can skip the personal accident insurance plan and sign up for an emergency budget or life insurance policy instead.
4. Those who are accident-prone
Some of us may be more prone to slips and falls than others, and constantly find ourselves limping in and out of the hospital like it’s our second home. If this is you, please get yourself some form of protection!
You should also consider getting a personal accident insurance plan if you have elderly parents or young kids at home because these are the people who need coverage the most. In the case of elderly parents, they would need to be cleared during health checks as pre-existing health conditions would not be covered under the plan. Only accidents with no links to health conditions will be covered.
5. Those with risky professions
Are you working in construction, as a bungee jumping instructor, or a lifeguard, perhaps? If so, you require the highest level of protection because your life is constantly at risk! If you’re a hawker, carpenter, technician, or taxi driver, you also fall into this category of “risky professions” and are a good candidate to get a personal accident plan.
If you like to find out more about how you can cover yourself with a Personal Accident Plan
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