Compare Personal Accident Insurance in Malaysia

Personal Accident Insurance is an annual insurance policy which provides the policy holder the compensation against any accidental scenarios such as injury, disability, dismemberment and death benefit. You can either take a PA policy for yourself or by group. Personal accident policy differs from medical insurance policy as the medical insurance policy provides the medical and health services to the policy holder. There are many types of personal accident policies that offer different types of benefits and the required annual premium also differs in term of class of occupation. The table below illustrates some of the personal accident policies from different insurance company.

1. AIA Bhd

Anniversary PA & My Family PA are both personal accident policies under the AIA Bhd. The Anniversary PA offers a higher amount of accidental death benefit compared to My Family PA. Not just that, the total amount of medical reimbursement that is stated in My Family PA is also slightly lower than Anniversary PA policy.  The additional benefit for Anniversary PA is that this policy also covers the death benefit caused by dengue viral fever. For My Family PA, the policy holder is entitled for an annual allowance up to 10 years if the policy holder had a permanent disability that are caused by any accidental situations. The total amount of annual premium also differs as My Family PA requires the policy holder to pay a higher amount compare to Anniversary PA.

2. AXA Affin Insurance Malaysia

SmartCare VIP & SmartPA are some of the personal accident policies under AXA Affin Insurance Malaysia. SmartCare VIP is a premium personal accident policy that offers a higher amount of compensation that is entitled by the policy holder. From the table above, the total amount of accidental death benefit that is stated under SmartCare VIP is higher compared to SmartPA. Not just that, the amount of medical reimbursement is also higher. There is also additional benefit that comes under this policy in which the total amount of personal liability is in enormous amount compared to SmartPA. The differences between the required annual premium for SmartCare VIP are also very large compared to SmartPA. Hence, there is a special benefit that comes with this policy in which it also covers and pay compensation to third parties. For SmartPA, apart from the compensation against accidental causes, it also pays some compensation against snatch theft and robbery.

3. Great Eastern Life Assurance Malaysia Berhad

Classic PA and Family Protector are some of the personal accident plans under Great Eastern Life Assurance Malaysia Berhad. The total amount of accidental death benefit for Classic PA is a bit higher compare to Family Protector and the total amount of medical reimbursement benefit for this policy is also more higher. However, for Family Protector personal accident policy, the compensation provided for personal liability is in the same amount for all plans. The additional benefit that is included under this plan is that there is a funeral & repatriation of mortal remains expenses benefit. Not just that, for Classic PA, there are also permanent disablement & bereavement allowance benefits under this plan.

4. Tokio Marine Insurance Malaysia Berhad

The table above illustrates the personal accident products under Tokio Marine Insurance Malaysia Berhad. For Individual PA Partner, the total compensation for accidental death benefit and medical expenses is higher compared to Premier PA Partner. Thus, both policies offer double indemnity in which the policy holders are entitled for payment of double sum assured for death or permanent total paralysis or permanent disability if accident occurs whilst the insured is travelling on a public transport. Furthermore, there is a personal liability compensation provided under both plans but for Premier PA Partner, the total amount of personal liability is slightly higher compare to Individual PA Partner. The additional benefit under both plans is that there are also kidnap benefit compensation provided for the policy holder.

5. Berjaya Sompo Insurance Berhad

Ultimate Care PA & Ultima V3 PA are some of the personal accident policies under Berjaya Sompo Insurance Berhad. Both policies have almost the same product disclosure and for Ultima V3 PA, the accidental death benefit that is offered under this policy is a bit higher compared to Ultimate Care PA. Same goes with the medical expenses that can be claimed under this policy is higher than Ultimate Care PA. Both policies offer the same additional benefits such as double indemnity and kidnap benefit. The total annual premium for Ultima V3 PA is also a bit higher as the total compensation provided under this policy has more benefits compared to Ultimate Care PA.

6. RHB Insurance Berhad

SmartCare PA & Max PA are some of the personal accident policies under the RHB Insurance Berhad. Under SmartCare PA, for plan 1, the total amount of accidental death benefit, medical expenses, indemnity and personal liability compensation that are provided under this plan are similar to Max PA. For plan 2 & plan 3, the compensation amount for all categories under Max PA is higher than SmartCare PA. The special additional benefits for SmartCare PA are that this policy provide double indemnity and travel allowance for the policy holders. There are also additional benefits provided for Max PA such as kidnap benefit and double indemnity compensation against any death or permanent dismemberment caused by accidental injuries. The total annual premium for SmartCare PA for occupation class 1 & 2 is lesser than Max PA but slightly higher for occupation class 3 & 4.

Take note that insurance rate will be different for low risk and high risk group.

*Low risk groups such as white collar and those who hold desk jobs with minimal interaction with power tools, profesionals like doctors, architects, teachers and lawyers.

**High risk groups such as mine workers(in underground mines), engineers working with high tension power supplies and dangerous sports like river rafting

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Medical Card Part 2

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