MSIG Insurance launches new personal accident plan

MSIG Insurance launches new personal accident plan | Insurance Business Asia

Insurance News

MSIG Insurance launches new personal accident plan

What is the coverage of the new insurance plan?

Insurance News

By
Terry Gangcuangco

MSIG Insurance introduces a new comprehensive personal accident plan, PA Recovery Plus, crafted to safeguard individuals at various life stages. According to a news release, the plan extends a 360-degree protective shield, including essential, recovery support, and lifestyle benefits.

In the event of accidental death or permanent disability, PA RecoveryPlus ensures financial security through payouts. The coverage extends to vital benefits, including daily hospital income and reimbursement for medical expenses as well as alternative treatments.

“As customers progress through life, we understand their protection needs would also change. Whether they are single, married, have children or are retired, PA RecoveryPlus is an all-inclusive personal accident plan designed to meet their needs in every life stage and protect them every step of the way,” said Jeremy Lian, senior vice president of technical services at MSIG Singapore.

“We do this by offering customers the flexibility of adding on coverage to include their loved ones and even their extended family. With just one plan, they can ensure the safety and well-being of three generations.”

Protection for individuals at various stages of life

The news release said that the insurer’s new plan includes the following support:

Home and car modification expenses: Up to $10,000 for home or car modifications, including the acquisition of homecare equipment in cases of permanent disability
Home nursing and domestic support fund: Up to $3,000 in cash post-hospital discharge to assist with expenses related to nursing treatment at home, meal delivery, laundry service, and temporary domestic help
Cosmetic procedure expenses: Up to $3,000 to ease financial burdens if cosmetic procedures for face and neck are required after an accident
Permanent caregiver grant: Up to $1,000 to cover agency fees for hiring a caregiver or domestic helper due to permanent disability
Petcare allowance: Up to $1,200 to cover the expenses of hiring an animal professional to care for pets during hospitalization
Fitness and sports membership fees: Up to $300 for unused fitness and sports memberships or facility charges during the recuperation period

The PA RecoveryPlus plan features three tiers of benefits, with premiums starting from $225.09 annually or $19.19 monthly, according to the news release. Customers have the flexibility to enhance sums insured for accidental death and permanent disability, as well as opt for income protection benefits to manage daily expenses during temporary disability.

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